Neil Morrisey in Millions of £'s of debt due to Property Investment Collapse!!

Graham_Devon

pd52 wrote: »

now ignoring posts by Bendix

You were in the first place anyway.

You never actually read any of what they were saying. They have defined their problems and said who they have problems with, and it did NOT cover every single bankrupt out there.

lemonjelly

bendix wrote: »

It's a sad reflection on modern society that we have to rely on employers to develop three month training programs to teach us something which should be instilled at birth.

I work in a college. It's a theme we're trying to re-enforce to all the students. We hope to get in there early so they are aware in the big wide world that they will have to take responsibility for their choices, actions etc.

lemonjelly

lostinrates wrote: »

I think people are judgemental, but I think the real problem is we judge ourselves less harshly. while we scream about failings in education we ignore the massive absenses and discipline problems our children confound the system with. we look at what other people haven't done for us, not we we haven't done to get the most out of things. Or we find excuse for our limits rather than accepting them: thus we have forgotten that somepeoplem, regarless and not in a fingerpointing way, have lower limits. This is part of the problem I'm struggling to describe as I see it.

Brilliant points LIR.

I get sick of (eg) parents going mad about the fact that their 12yo daughter got burnt on the sunbed, whilst missing the point that they gave the kid money for it and obviously weren't supervising her or hadn't discussed the potential dangers. All too often, we are too quick to pass the responsibility buck.

JCS1

abinanthanb wrote: »

I am totally against Bankruptcy. People should be held responsible for their entire life unless they repay the debt totally. How on earth someone can wash his/her hands off a debt when they are very much alive? Its totally unfair on people who repays it.
QUOTE]

I've interviewed people who went bankrupt becauase they were forced to take out credit by abusive and violent partners. When they get the courage to leave home, they also often have to leave work to avoid being traced.

Would you have these people repaying debt for their entire life? Haven't they gone through enough already?

Graham_Devon

bo_drinker wrote: »

Look @ this in D T board??

http://forums.moneysavingexpert.com/showthread.html?t=1893145

Good innit! Trust dippy

Nice quote from that lot, not a very apt username...

Originally Posted by headoutofsand
There is no need to lose your marbles over debt, it is only bits of paper and some load of tosh on a computer screen in some black tower in the universe. I for one will lose no sleep over going BR, but I lost plenty before.

b0rker

JCS1 wrote: »

I've interviewed people who went bankrupt becauase they were forced to take out credit by abusive and violent partners. When they get the courage to leave home, they also often have to leave work to avoid being traced.

Or possibly that is what they told you?

I can imagine it would be very difficult to prove that someone was 'forced' to take out credit. Unless there was voice recordings or maybe email/sms proof. That would surely only be a handful of cases.

So what about the hundreds of thousands of people going bankrupt in our once generally prudent and financially sound country?

I want hundreds of consumer goods that I cannot afford. I won't buy them as I don't need them and I cannot afford them without credit/debt.

I only want them.

Swishy_bell

If I ruled the world (heaven forbid) people who went bankrupt would have their debts turning into something resembling the current student loans. A percentage of future earnings taken staright from earnings before it hits thier banks.

Their take home pay still increases as wages go up encouraging ambition but payments also go up meaning they pay it back quicker. Debts are not fogotten but stop becoming unmanageable. Interest rates would have to be fixed/ adjusted inline with inflation. whilst out of work or below a certain icome level repayments are not expected but obviously the debt increases as said interest rate so it doesn't just deflate away.

Just a thought that came to me whilst reading this thread. Disucuss??

Probably not in any way implemtable but a thought none the less.

b0rker

Swishy_bell wrote: »

If I ruled the world (heaven forbid) people who went bankrupt would have their debts turning into something resembling the current student loans. A percentage of future earnings taken staright from earnings before it hits thier banks.

Sounds like a good deterrent. That is what we need. With no deterrent then we end up getting clowns like the ones we are seeing quotes from on this thread. People taking advantage of the fact that there are very little consequences to going bankrupt.

Sad.

lostinrates

Sounds likea good deterrant to not bother trying to build yourself up again if depressed (Iwould be if I were bankrupt) and starting from scratch.Would only''work'' with a full overhaul of the benefit system.

I think the best way topreventit is tighter controls in advance of debt, not after it.

b0rker

lostinrates wrote: »

Sounds likea good deterrant to not bother trying to build yourself up again if depressed (Iwould be if I were bankrupt) and starting from scratch.Would only''work'' with a full overhaul of the benefit system.

I think the best way topreventit is tighter controls in advance of debt, not after it.

Clearly there needs to be some kind of deterrent put in place as there is no longer a moral nor social/self respect deterrent for many.

I agree that it may not work for those already BR as they would just sit on the dole most likely but there needs to be a deterrent for those without debt now and considering taking on lots of debt in the future.