Bankruptcy... Is it to easy?

fermi

Evenin Bat.

I do love these threads with comments by people who haven't had to go through it. Clueless is not the word.............:rolleyes:

chucky

Dooooooooooooooonut wrote: »

:rotfl:

Have you considered a career as a quant on a mortgage exotics desk? Or are you busy as a Labour spin doctor? Or just thick?

The number you quote has nothing to do with anything, really.

really!? - CML posted the figures.
and when you say it "has nothing to do with anything", it has got lots to do with 'anything'; it tells you the number of people that are defaulting on their mortgages. so that is something. you claimed this was the only cause of the problems, you're worng.

actually you've just converted me - how do I get membership to your doom club?

ps. when you call me thick - how do you know my middle name?

repoamuse

fermi wrote: »

Evenin Bat.

I do love these threads with comments by people who haven't had to go through it. Clueless is not the word.............:rolleyes:

:mad: :mad: :mad: :mad: :mad: :mad: :mad: :mad:

Clueless is MEW'ing up and going bankrupt due to consumer debts.

I'm clueless as to how they can walk away, apparantly scott-free, able to repeat in some cases.

Clueless. Not an applicable word here, sorry.

blind-as-a-bat_2

fermi wrote: »

Evenin Bat.

I do love these threads with comments by people who haven't had to go through it. Clueless is not the word.............:rolleyes:

I have to agree im afraid.

In answer to the OP,s question

repoamuse wrote: »

I have refrained from asking this question on the bankruptcy board as it's maybe a little too sensative.

Does anybody feel, as I do, that the bankruptcy system in this country, has too many loopholes and makes it too easy for a large section of society to 'wipe debt'.For those that truly need to use the BR system it is far from easy, but yes there are loopholes, but on both sides of the fence, which can make it harder for those that dont deserve it

Could this be a barrier to risk-taking and future investment? Could it deepen coming recession?Almost certainly, if the predicted figures are correct

I know personally 2 couples that have gone 'bang', kept their cars, homes and jobs, repayed nothing, and been able to keep the consumer junk and big tv's that got them in the position in the first place. Thats the sting in the tale, they are allowed to keep keep the consumer junk because its not actually worth anything, think about it;)

As for cars, it depends on what value your talking about as to whether it is wrong or right, and why they need them, if they do.

Did they tell you they whrere not paying anything in the form of an IPA by the way, or did you just assume they did not have to pay anything back?

of course that may be the case, but maybe not, depending on ther income, they may be paying up to 70% (for 36 months) of there surplus income if its high enough

blind-as-a-bat_2

repoamuse wrote: »

:mad: :mad: :mad: :mad: :mad: :mad: :mad: :mad:

Clueless is MEW'ing up and going bankrupt due to consumer debts..

Actually the debt is not the cause of the BR in most cases, its the drop in income that follows illness, or some other unforseen event in life, that PPI only covers for so long, if at all, then what does a person do?

Its a bit late to say they should not have took out the loan then is it not?

repoamuse wrote: »

:I'm clueless as to how they can walk away, apparantly scott-free, able to repeat in some cases.

Clueless. Not an applicable word here, sorry.

Only if the banks are daft enough to lend to a BR, which unfortunatly they are, or where, its not a one sided argument im afraid:rolleyes:

Dooooooooooooooonut

chucky wrote: »

really!? - CML posted the figures.
and when you say it "has nothing to do with anything", it has got lots to do with 'anything'; it tells you the number of people that are defaulting on their mortgages. so that is something.

Check the tense. It's important. Very important.

chucky wrote: »

you claimed this was the only cause of the problems

No I didn't

chucky wrote: »

you're worng

No, you are

chucky wrote: »

actually you've just converted me - how do I get membership to your doom club?

You need big knockers

fermi

Dooooooooooooooonut wrote: »

You need big knockers

Big enough?

neverdespairgirl

fc123 wrote: »

Seriously? Do they add interest to it? I have heard that your profession needs nerves of steel concerning cashflow.

1. Yes.
2. No.

You do need to be able to hold your nerve! This cheque for £70-odd won't change everything, but it's still a little irritating.

dad-of-4

leveller2911 wrote: »

You say its wrong to punish people for "nothing more than having a go at living there lives".............So what happends if we ALL max out on credit cards??????

"so a little protection for peoples worldly goods is a good thing"

Are these the 50" plasma screen TV,s 4x4 cars,expensive jewelly,designer clothes etc all purchased with credit cards? Because they wanna keep up with the Jones???

One word thats missing here is "MORAL" is it morally right to over extend your borrowing with no thought of paying it back??

And as for the "odd person out to manipulate the system" just made me laugh , I personally know of 7 people who have maxed out on credit cards and then gone bankrupt,like other posters here have said they just shrug it off, still have the "Blackberry" phones, I pods, cars, holidays etc and 50% of them are dole-ites .......

They are as bad as any long term, work shy,dole scrounging,system manipulating SCUM.........:mad: ( And No I dont mean the genuine unemployed)..

why not ban credit cards if they are so capable of moraly bankrupting us,. and you might want to realign your "moral compass" away from money and stop calling your fellow human being SCUM before making any claim of a correct "MORAL" perspective.

50" plasmas 4x4 designer clothes? yes and being lumbered with them for the next 6 years, nothing more than depreciating out of date tat the minute they leave the store. A just punishment for these folks if ever i heard of one.

it seems th official recever thought so too.

so you know 7 people who you claim had the sytem over and consider that indicative of the state of play out in the real world.

i know 7 people who drive a BMW but does everyone?

dad-of-4

Broken_hearted wrote: »

You are free to have a holiday just save up for it. If you can't afford the holiday without credit you can't afford the holiday. Surely thats what being bankrupt is supposed to teach people.

that wasnt my point and you know it, were talking "legailised legislated law-of-the-land discrimination", based on nothing more than people inability to handle their debt.

funny how houses are oh so worthy but a holiday is not.

i cant afford to buy a house for cash, and that is why i rent (seriously) why the hell i should i be discriminated against?

penalise the home owners, their the ones who caused this mess. a nice little bit of legislation to to stop people owning homes is exactly what we need.

or maybee not, cos that only suits me;)