I am responsible

Emby_2

Thanks for your replies.

Fiveyearplan, It was my business that dragged me down with it so that is a very valid point.

I wanted to start this thread as it frustrates me when I see others wasting their time dwelling on blame because it doesn't get them anywhere.

I started a business at a very bad time - exactly 1.5 years before the credit crunch hit so it was a fledgling so despite my efforts quickly became insolvent. I could not see the future BUT I accepted the risk when I started and therefore am responsible for losing my house and hundreds of thousands of pounds invested. Some people might find the above statement odd BUT its exactly how I do think because I am still in control. I was then and I am now. I took the risk and circumstances out of my control were a big factor in the result. I don't blame the banks as 1. It wouldn't get me anywhere and 2. I decided to take the risk in the first place.

Taking responsibility is empowering!

Emby_2

Except i was not at the time, as i stated in the other thread, christ, i was not even allowed to take a bath or shower, or go out without supervision at the time, let alone be financially responsible:rolleyes:

During that period i have many days, and weeks, i can not even remember

Blind-as-a-bat,

I think being completly out of it for weeks at a time is a clear example of an exceptional case.

I will rephrase the above title to 'I am responsible (When of sound mind and not dosed up on strong prescription drugs which delete weeks of memory at a time)

:-)

Lost2

wasn't it the banks that not only took loans from the Tax Payer, but the interest rate was reduced by the Bank of England 3 times in the first quarter of this year and tell me those people that have mortgages how much your interest rate went down erm erm yes thats right it didn't did it so you tell me who is responsible for the debt because your interest on your debt went up and if you have saving you would get next to nothing in interest Banks dont give a fu** they only want your money you are just a number

Emby_2

Lost2,

Yes its not good but those of us who took mortgages accepted the obvious risks involved with such a large sum of money. We are the ones who signed on the dotted line. It was a risk most of us agreed too, and many of us at the moment, including myself have suffered the worst case scenario involved with that risk.

Bleddry

"Yes I completly agree the banks are completly irresponsible for lending money so easily and are now paying the price for their bad and corrupt decision making"

What price is that exactly?
Last I heard, we (the taxpayer) were bailing them out, and yet they are still paying themselves whopping salaries and sky high bonuses on top.
I thought you went to your bank for trusted help and advice, like you go to a Doctor about something ailing you. If your Doctor suggested a course of action, you'd probably take his advice, because he is the trusted professional. I used to view the Banks in a similar way, until recently.
Yes, feel responsible by all means, if you are. Some of us only feel partly responsible, and need to go through some pretty negative thoughts before making sense of it all. It would help my healing process, if I saw the banks facing up to their almighty errors and being penalised for them in the same harsh way some of the poor souls on this site, are having to face up to theirs. At the end of the day, we all handle situations differently, and we must do what is right for us.
You certainly sound like you are well on track now - and for that, I take my hat off to you!

fiveyearplan

Emby wrote: »

Thanks for your replies.

Fiveyearplan, It was my business that dragged me down with it so that is a very valid point.

I wanted to start this thread as it frustrates me when I see others wasting their time dwelling on blame because it doesn't get them anywhere.

I started a business at a very bad time - exactly 1.5 years before the credit crunch hit so it was a fledgling so despite my efforts quickly became insolvent. I could not see the future BUT I accepted the risk when I started and therefore am responsible for losing my house and hundreds of thousands of pounds invested. Some people might find the above statement odd BUT its exactly how I do think because I am still in control. I was then and I am now. I took the risk and circumstances out of my control were a big factor in the result. I don't blame the banks as 1. It wouldn't get me anywhere and 2. I decided to take the risk in the first place.

Taking responsibility is empowering!

It frustrates me too because I have the same thinking as you but my husband is one of the blame everyone but himself! Very frustrating because I like to find solutions and move forward not think you should have done this, you should have done that etc - it gets you nowhere. I've done that, it didn't work, I've learned from it and moved on. At least I tried.

Lost2

I remember when we went for are mortgage and before they gave us a mortgage we had to take are wage slips in and we also had to have 100% deposit, and if they where not happy they turned you down for a mortgage and they only then went over 15 years