Debit Cards - Ex Bankrupt

garethl_2

Bankruptcy law is designed to make it less of a hinderance for people to go into business i.e. the risk is reduced making it an easier choice to go into business and/or start afresh a new business. I believe it's modelled on other countries handling of bankruptcies and it works well for those countries economies. So while some individuals may feel hard done by that someone has gone bankrupt, made themselves debt free, and are now seeking to work their way back to being solvent, bear in mind that usually going bankrupt means giving up any property owned including vehicles and your home and it is by far the most difficult and traumatic experiences a person can find themselves in. Bankruptcy is not for the faint hearted and is a last resort. If it was caused by negligence then the individual is punished accordingly, e.g a restriction order being put in place which extends the bankruptcy to up to 15 years. People who think bankruptcy is now a soft option really need to reconsider. What's better?.... Individuals being tied to debt for an eternity because society will scorn them for going bankrupt, that individual being bogged down into unfulfilling work just to pay the debts off. Business owners who have a customer who doesn't pay up, they go bankrupt and the business owner not being able to trade properly for many years (as per old rules). Or... individuals being given a fresh start, restrictions put in place to help them back onto their feet and live within their means. And businesses being able to deal with bankruptcy quickly and effectively, and to be back trading and providing jobs within a reasonable time-frame.

Remember also that credit companies account for 2% delinquancies in their profit margins. Yet in this country delinquant accounts are more in the region of 1%. So they still have a margin in hand.

Bankruptcy is a horrendously stressful thing to go through. It's not always the individual's fault. We live in a society now where credit is offered willy nilly. Jobs are here one day, gone the next. House prices are sky high. And fuel bills are ever rising. Don't be surprised if you find yourself one day in the same boat. (I hope not, but it can easily happen).

HenryWeston

good post! :beer:

suegar21

i was discharged from bankrupy april 2006 vanquis have gave me a credit card nov 2006.ok high interest but use little and pay straight off.credit limit 200.

mummytofour

Sorry cant be ar%ed to read the whole thread but why dont you get a pre-paid credit card, you load money on to it much as a pay as you go phone then you can use the card as normal.

TaurusCB

Hi everyone, I have only just joined this site and yes I was almost put off by Sparkle84 but after reading comments by Kevka, Lydia and 10mmring I thought I would add my story so that if Sparkle84 is actually actually capable of opening his very narrow mind he may just find some compassion for others and begin to realise that there are many people out there that had no option but to declare themselves bankrupt and had to follow that path for no fault of their own..its called circumstance!... My story then, in the hope that some may draw comfort from it. I ran a small printing business for 16years employing 8 people. Unfortunately chages in the industtry and the loss of my biggest client resulted in the collapse of my company in 2006. even after 16 years with the same bank, they refused to support me whilst I attempted to find replacement business. The banks were no help and contributed to my demise leaving me no choice but to go Bankrupt. I had already remortgaged my house to try and save the business and 8 peoples jobs which demonstrates my committement. the loss of the business, going into personal bankruptcy and my divorce last year as a result of the stress on my marriage, left me with absolutely nothing! I had never drawn a days benefits in my life before and going this route is very tough for me, but as friends pointed out, I have paid into the system all my life (i am now 63) and I am entitled to a little help now. Sparkle84...people desrve a little respect...you don't know them or their story, so if you can't offer practical help or show a little compassion...then shut up please and go and peddle your arrogance somewhere else.
TaurusCB

TaurusCB

Just one more thought...banks have just created the biggest financial mess in history due to one thing...Greed...who bailed them out...us!....how do they respond...more greed.
All we bankrupts ask for is a little help to get back on our feet! I believe the banks should hang their heads in shame and start thinking about helping us...the customer!
TaurusCB