28 years old and bankrupt

sparkle84

Hi Slash can I too just explain that it wasn't people in your situation I was having a go at it is people who run up debts with no intention of paying them back and then going bankrupt.

I also very much agree with Western that "shopping addiction" is a joke I find it offensive I owe loads of money I wasn't addicted to anything I just didn't have a clue what I was spending until it was too late and now the party is over and I have to pay it back

slash40

hi sparkle84, i think in my case the old saying look after the pennies and the pounds will look after themselves is very true. thats why i hate taking cash out of the bank and prefer using my card. i always think twice about putting a purchase on my debit card and have a mental bank balance in my head. cash just seems to disappear, little things that add up over the week or month and you can never remember what you have spent it on.
the only time i use much cash is for bills and i always take the exact amount out. also at the end of the month for shopping, leaving my bank card at home. because i only have a basic bank account they have threatened to close my account if i ever go overdrawn.slash

trevored

Hi

I've been following this thread with interest & I share dudleyboy & others opinion on the BR as an 'easy option'. I came to this opinion well before this thread started as a result of someone I met. This is not purely anecdotal as I know this person. She currently has £65,000 worth of debt and is approaching her second bankruptcy which is likely to occur in Sept/Oct time.

She has no assests, car, property etc. and is so distressed at her predicament that she has booked five foreign holidays between now & August (it was six but she's already on one!!).

How has she managed to accrue so much access to credit? I've no idea. But she's clearly taken full advantage of it.

Now who are the loosers - the banks, credit card companies, store card companies?

No, it's those of us who are determined to clear our debts, making sacrifices & scrimping & saving.

The "Liz's" of this world are taking us for mugs without actually intending to or being aware of it. I'm afraid, in this country, the more you are prepared to do for yourself the more you are penalised.

Exactly who are the POOR in this country?

sparkle84

trevored wrote:

Hi

I've been following this thread with interest & I share dudleyboy & others opinion on the BR as an 'easy option'. I came to this opinion well before this thread started as a result of someone I met. This is not purely anecdotal as I know this person. She currently has £65,000 worth of debt and is approaching her second bankruptcy which is likely to occur in Sept/Oct time.

She has no assests, car, property etc. and is so distressed at her predicament that she has booked five foreign holidays between now & August (it was six but she's already on one!!).

How has she managed to accrue so much access to credit? I've no idea. But she's clearly taken full advantage of it.

Now who are the loosers - the banks, credit card companies, store card companies?

No, it's those of us who are determined to clear our debts, making sacrifices & scrimping & saving.

The "Liz's" of this world are taking us for mugs without actually intending to or being aware of it. I'm afraid, in this country, the more you are prepared to do for yourself the more you are penalised.

Exactly who are the POOR in this country?

Well as I have mentioned on this forum before if it is any consolation this bankrupcy will be different for her she will not be discharged in one year it will more likely to be 10 years and as she obviously has surplus income to book all these holidays the OR will want surplus money back for her creditors. I think she might be in for a bit of a shock this time around

slash40

hi, i back that too .being her 2nd bankruptcy and booking 5 foreign holidays in such a short space of time she cant exactly say the debt was due to every day living expenses, adverse change of circumstances etc.
but again i stress bankruptcy is not an easy option for most, but a last resort with many implications. for those who abuse this option there are now severe penalties. slash