Bankruptcy... Is it to easy?

blind-as-a-bat_2

mitchaa wrote: »

I can walk into a bank with a gun and walk out with £100k 5mins later. I would of course be criminally convicted and spend 10yrs or so behind bars but i could do it.

Instead of that option, i could do it legitimately, spend an afternoon or so applying for every credit card, bank loan, and finance option under the sun, live the life of Reilly for a year or so, max out the credit limits and then when the threats of bailiffs are mentioned, declare myself bankrupt.

Once im declared bankrupt, wait a year before im discharged from the OR, move to a rental property (Fib about previous addresses) and then start the whole thing rolling all over again.

Hey i can even get the wife to do the same. Rack up £150k debts between us and go joint BR, that would save me having to work for a few years

BR is far too easy, dont let half of the numpties over on the BR section convince you otherwise, the majority have been keeping up with the Jones's and its come back now to bite them in the ar*e.

.

Take it from one of the Numpties from the BR board, if you tried the above you would have as much chance ending up behind bars for fraud as you would if you had gone in with a gun:rolleyes:

louiser123

it really does amaze me that there are still people out there that feel it right to judge everyone, they are so secure and sure that nothing will jump up and bite them in the a@@ that they are happy to band a group of people together into the same category without even knowing them or knowing the facts.

Paulgonnabedebtfree

mower5 wrote: »

I disagree with the finger waging vindictive posts i have read here. I prefer the USA model which encourages risk taking and new start up businesses. It gives people a chance to learn from their mistakes. If your business fails you can walk away and try again without ignomy or debts around your neck.

No judgement here. I may have to do it myself if I have any more largish mishaps. But I wonder how much the American model has caused some of the problems we are seeing? From what you've posted, it sounds like a business person can walk away from their business without being chased for money. Also, I was surprised to learn some while back that the same applies if you can't pay your mortgage. If you hand the keys back you relinquish the debt too. Maybe I haven't understood correctly as media reports are often flawed. I wonder if there was a system that did make things more difficult for a few years if that would make people stop and think about what they're doing? Could the result be a much slower growing economy in the good times but without a rapid descent into "bust" during the bad ones?
Due to the polarisation that occurs on the internet, I am also wondering how many posts it will take before someone accuses me of advocatng a return to debtors' prisons .
As I say. No judgement, but just a few thoughts of mine.

mitchaa

blind-as-a-bat wrote: »

Take it from one of the Numpties from the BR board, if you tried the above you would have as much chance ending up behind bars for fraud as you would if you had gone in with a gun:rolleyes:

Now now, i dont think you would.

As wreckless spending on credit is not illegal, even if you did have no intention of ever paying it back.

The only part fraudulent in my suggestion would be to lie about your black listed address but this would only become apparent 2nd time round, and its doubtful you would get a custodial for doing so.

Not all BR cases are as i said, and i did give a few examples of what i would deem acceptable reasons for going BR, but there are clearly people (Yes some on the BR forum) that have clearly taken the Michael Fish.

Broken_hearted

blind-as-a-bat wrote: »

Take it from one of the Numpties from the BR board, if you tried the above you would have as much chance ending up behind bars for fraud as you would if you had gone in with a gun:rolleyes:

Depends how you do it. You could have depression or other mental illness and have lost control of your spending. Do it slowly of a couple of years consolidate a few times then say nope can't cope. Slapped risk and off you go again.

louiser123

mitchaa wrote: »

Now now, i dont think you would.

As wreckless spending on credit is not illegal, even if you did have no intention of ever paying it back.

The only part fraudulent in my suggestion would be to lie about your black listed address but this would only become apparent 2nd time round, and its doubtful you would get a custodial for doing so.

Not all BR cases are as i said, and i did give a few examples of what i would deem acceptable reasons for going BR, but there are clearly people (Yes some on the BR forum) that have clearly taken the Michael Fish.

all debts are looked into on br by the official reciever and any suspected activity of the sort you mention would be investigated, and yes you can serve a custodial sentence as you also can for trying to obtain credit when br.

mitchaa

louiser123 wrote: »

it really does amaze me that there are still people out there that feel it right to judge everyone, they are so secure and sure that nothing will jump up and bite them in the a@@ that they are happy to band a group of people together into the same category without even knowing them or knowing the facts.

I will continue to label and judge people that i deem are wreckless, those that benefit fiddle along with those that run up credit with the sole intention of never paying it back i will continue to label as waste of spaces.

Now i refer you to my original post where i clearly state why i support BR, it helps those in genuine need but it also helps those that are abusing the system of which to that part i do not agree with.

Nothing wrong with my opinion, and im not having a dig at anyone in particular.

Shall i state again, that i do support the need of BR (But only for those genuine cases)

louiser123

mitchaa wrote: »

I will continue to label and judge people that i deem are wreckless, those that benefit fiddle along with those that run up credit with the sole intention of never paying it back i will continue to label as waste of spaces.

Now i refer you to my original post where i clearly state why i support BR, it helps those in genuine need but it also helps those that are abusing the system.

it was the bankruptcy board numpties bit that made me assume(rightly or wrongly) that you were labeling everyone in the same nutshell.

i did say i agree some do abuse the system as will all systems they are not foolproof, all i was saying was its very wrong to judge without the facts and just make presumtions which the equality and diversity legislation we have in the uk is suposed to prevent.

no malice intended at all in my past post.

Paulgonnabedebtfree

Zelie wrote: »

From the little I know about it, it does seem too easy. While the reactions of the past may have been too extreme I don't think it's a bad thing to have a stigma attached to being bankrupt. Being bankrupt is a sign of someone who is fundamentally unable to control themselves, it's not a minor problem with a creditor!

I'll readily admit to not knowing the exact details of how much money a person gets to live on but I'd have thought the equivalent of JSA, LHA and CT would be sufficient. And I don't think that a bankrupt needs to remain in the same house if they had owned it - that's an asset which should be sold.

I feel that you have oversimplified. I believe the majority of people who go BR have not done so by being overly frivolous or excessively careless. I suppose there may be a small minority who could regard going BR as part of their longterm financial planning but I believe (and I've no evidence of this) that this is exceptional.
I am not BR. It may happen but I intend to avoid it - even if it means working hard for a few years while living on a disposable income (after debt repayments) not much higher than benefit levels. I had debt while I lived with my ex-cohabitee. I was too soft and allowed the debts to be in my name (yeah I'm a mug). When the relationship floundered, the debts were in my name and I could no longer let my flat as I needed to return there for somewhere to live. All that, I could have coped with but then I needed six months of work because I was found to be ill and needed gruelling medical treatment. That was the tipping point.
So I live on reduced late night bread that I stockpile in a freecycle freezer, veggies, fruit , pasta and other basics plus any bogof deals I can grab and freeze. I don't drink or smoke and only run a vehicle because it's an essential work van. A night out for me is visiting friends at their houses. My little luxuries are a very basic TV package (£66 a year), internet access (though that is partly for work), and an occasional bit of chocolate. In fact, I would probably have a better standard of living if I was BR (though I would have to rent I guess) because I don't think they can take essential work tools (such as a van) though I may be wrong on that.
I'm not complaining though. I just want to show that not everyone is on the make from BRs. In fact, it's starting to sound very enticing

dad-of-4

mitchaa wrote: »

I can walk into a bank with a gun and walk out with £100k 5mins later. I would of course be criminally convicted and spend 10yrs or so behind bars but i could do it.

Instead of that option, i could do it legitimately, spend an afternoon or so applying for every credit card, bank loan, and finance option under the sun, live the life of Reilly for a year or so, max out the credit limits and then when the threats of bailiffs are mentioned, declare myself bankrupt.

Once im declared bankrupt, wait a year before im discharged from the OR, move to a rental property (Fib about previous addresses) and then start the whole thing rolling all over again.

Hey i can even get the wife to do the same. Rack up £150k debts between us and go joint BR, that would save me having to work for a few years

BR is far too easy, dont let half of the numpties over on the BR section convince you otherwise, the majority have been keeping up with the Jones's and its come back now to bite them in the ar*e.

If there has been an unexpected circumstance, accident, death, redundancy, business not doing well then i support the need for BR 100%.

It's the idiots that abuse the system (probably the same idiots that abuse the welfare system) that boil my blood.

If anything like a Plasma tv or a sportscar or proof of foreign holidays has been paid for with the outstanding amounts then BR should be made about a million times more difficult.

If i was made BR through my own neglicence, i would be ashamed of myself and look at it as a massive failure in life, but hey that's just me.

Rightly so, it does follow you for life, a visa to America/Australia and the likes would i assume be declined as would thousands of job opportunity paths.

That was 1 of the 1st questions asked after the obvious in my job application pack.

i like what your saying, my only problem is how can it be done so that the more genuine cases dont suffer, i hate this whole lets change things cos a minority of people abuse things idea, that realy is my only problem in this whole discussion, everone suffers, for the actions of a few. it just an extension of the governments "were taking away your freedom, its for your own good". mentality.