28 years old and bankrupt

dudleyboy

jesster wrote:

As someone who's trying to support an OH through a genuine potential BR, I too was really irked by Liz's attitude.

But let's not slam the bbc for choosing HER story to report.

Who's to say they expect us to be sympathetic with her? The bbc has to be seen to be impartial and unbiased, and to let people make up their own minds about a story. But they do get to choose their 'case study' for the article. It would be just as easy, if not easier, to find someone who's gone BR for more genuine reasons. But by choosing someone like Liz the writer's making a point about abuses of the system - and starting our debate - without being seen to make the judgements.

Good point... though if they were really that keen on starting a debate they probably would've added a comments link to that page as they often do on some of their articles. At least then we wouldn't all be "preaching" to the converted...

Steevo25

I find it very difficult to judge someone based solely on a one page report from the BBC, where obviously only the highlights are shown. I think it is very clear that she wasn't 'sensible' but we don't really know anything about her at all. There could have been other circumstances involved that are not on the report. Yes, she bought a holiday on credit, but so do many other people. At the time she did that, it sounded as though she did have the means to pay for it.

It is the same for a lot of people in that situation, you truly do believe that you can afford it. I am sure that when she got her first line of credit she didn't dream of what the ending would be.

I bought my first car on credit when I got my first job. I also bought my first computer on credit. As it wasn't long after I left school, i certainly wasn't in a high paid job and the payments did make life difficult ( not as bad as 'Liz' ).

Her problem was that she didn't stop and admit defeat. She took out new loans to get her out of trouble from the old loans. I think once you start doing that it is a very slippery slope unless it is something you have seriously thought about. I am not going to congratulate her for what she did, but I am not going to shoot her down either.

I think the article was done to serve as a warning to others. If it had ever happened to me, I certainly wouldn't wan't my life story put in the media.

robindunne1

Maybe my personal and financial situation may go someway to qualifying my opinion.

I’m the same age as Liz, but at 28 my domestic situation is much different. I am married with 2 and my wife stays at home with our 2 children. Therefore I have the responsibility of looking after the financial needs of 4 people as well as a large mortgage so I do not burden the state by living in a council house.

In the age of Child Tax Credits and Child Benefits the government more than takes care of those with children, and to use these financial demands as an excuse for getting into debt is simply wrong.

Even with these pressing needs credit cards are never an option. Because one of my kids needs new shoes, do I need a credit card to pay for them? Will that somehow mean that when I have to buy shoes in the future the need to pay for the shoes the first time round will disappear?? The answer is priorities.

Having children means sacrifice and more sacrifice. I do not have new clothes, go on holidays (except camping in Filey) and don’t run a car because we can’t afford it. Using children as a reason for getting into debt is terrible. The fact that the most important people in my life depend on me for ALL their material needs motivates me more to keep my finances in order. I will work every waking hour if necessary (and have done so in the past) to keep our heads above water. I love my family and will never point at them for the reason that I can’t go on holiday to the Bahamas every year. My kids are MY responsibility and nobody else’s.

The dependency and blame culture is one of this country’s terrible ills. Liz’s age is not an excuse. Any kind of debt (probably with the exception of a mortgage) is avoidable. I know people do need benefits to survive, but somehow I think one persons idea of being unable to get a job is different from my idea of being unable to get a job. So many people get into debt because of depression and therefore unable to work. Haven’t they thought that maybe they’re depressed because they’re not working?

It does irk me when I look at my pay slip every month and see £500 in deductions which I could use for my family being taken out as tax and NI, a good portion of which will go to people who do not work, get into debt and have to live on benefits as a result of depression. “Irresponsible banks”, “High interest rates” with the amounts I have to pay in NI as a result, who are the real victims here??

The Welfare State has been crippling this country for years. I’m an accountant for the DWP so know the amounts that are wasted.

Am I taking the moral high ground? Probably Am I proud of the fact that I have never paid interest on anything apart from my mortgage? Definitely. Will I ever be bankrupt? Never!

Kevicho

I think liz should be ashamed to look at herself in the mirror at night

As said before she has not contributed at all to her debts, and said on a number of occasions that she knew there was a problem but didnt deal with it, that i think is a disgusting attitude

So whilst i, and many others on here, battle on with nights in paying off as much as possible in repayment for enjoyment earlier in life, bankruptcy would be an easy option for me, but i choose to pay this off, Liz will be off skiing again and having a laugh.

Sometimes it feels like there is no justice

Liz i solute thee

Frugal_Fox

dudleyboy wrote:

I feel really sorry for Liz. Fancy being exploited by all those nasty credit card and loan companies and being forced to make all those purchases and take all those luxury holidays overseas on money that wasn't hers and then being expected to pay them back. Have they no shame?!! ...

DudleyBoy

Well Done ! I daren't even say that I'm in a similar position to Liz - because I'm not. I wasn't bright and I wasn't always clever about what I spent - hence my debt. However, there is no way I'd ever think about shirking my responsibility to pay. Our debts are the result of some rash spending - but mainly due to poor planning. We are climbing out, and doing it the hard way. We are cutting back, and maximising our income. We still have days out with the children - why should they suffer for our mistakes - but our days out involve minimal if any spending. We will learn from our mistakes, and these will not be repeated. I doubt Liz will learn from hers.

skintchick

Steevo25 wrote:

I seriously do think that what happened to 'Liz' IS a type of illness. Not an ilness as in you are sick, .

And what other kind of illness is there?? Confused.

Dudleyboy's post was purely about Liz, and regarding her he was spot on - fantastic post, well written and I wish I had written it myself.

I appreciate people on this board are in trouble (I have derbts myself) and no-one is having a pop at anyone here, but only the person who takes out credit can be responsible for that - it is not the banks' fault you took out credit, it is yours.

We have to take responsibility for our own actions in this life

lottie26_2

Totally agree with you Skintchick, its far easyier than it was 10 years ago but I certainly am here because it was my fault , yes easy to get credit but I commited myself and signed the credit agreements.

Steevo25

skintchick wrote:

And what other kind of illness is there?? Confused.

Dudleyboy's post was purely about Liz, and regarding her he was spot on - fantastic post, well written and I wish I had written it myself.

I appreciate people on this board are in trouble (I have derbts myself) and no-one is having a pop at anyone here, but only the person who takes out credit can be responsible for that - it is not the banks' fault you took out credit, it is yours.

We have to take responsibility for our own actions in this life

I agree,we do have to take responsibility. But what I am saying is that it is very easy not to see the forest for the trees. Most people that have got to the stage of being seriously in debt never thought it would get that way when it started. I can't imagine anyone that took out there first loan or credit card with the intention of going bankrupt at the end. The way 'Liz' has been protrayed is that the only intentions she had were spending, spending, spending with the purpose of going bankrupt. I don't believe that to be so. I have been there and luckily pulled myself out of it at the very last breath and recovered and now I am comfortable. At no time did I ever consider I would ever go bankrupt ( luckily I didn't ). She got out of her depth early and instead of seeking help tried to borrow more money to keep her self afloat. Stupid mistake yes, but I don't believe that she just spent and spent for a luxurious lifestyle. I have taken out loans for holidays or to buy PC equipment. It is very easy to convince yourself that you can afford it and things will sort their self out. Some people have better will-power than others. I am not saying the post was badly written, but judging someone on a one page article doesn't sum everything up.

skintchick

But whatever the reasons for her spending, a lack of willpower or self control is not an illness. A weakness, maybe, but not an illness.

ash333

If we can all manage it, why can't she.
I am not one of these people that will tell you that credit cards are the work of the devil etc etc. However, they are a tool, and as such must be used effectively. As a hammer is a tool, it is no longer a tool if used to hit someone, it then becomes a weapon. If credit cards are used correctly then they can be a very useful tool, but otherwise, like the hammer, they become a weapon.

Thats my philosophy for the day anyway - enjoy:)

Ash333