What would happen if everyone in Debt stopped paying

tru

I spose I'm one of the moral-high-horse-brigade, though we ended up in debt because of redundancy - twice. No flashy cars or anything like that, it was all normal household bills, food and clothes. The last car we bought cost us £300 Two of our debts are catalogues and we only bought from those because we couldn't afford to buy a hoover or clothes and pay for them all in one go :rolleyes: The moral-high-horse bit comes in here...........I didn't sign credit agreements for the catalogues but I can't bring myself to refuse to pay because I know I bought the stuff and would feel so guilty if I didn't pay it off. Though I only get moral-high-horsey with myself - if someone else got out of paying I'd say 'good for them'

Having said that, if there was an organised do-not-pay-your-debts-day I'd be the first to cancel my dd's

System

lennymfo wrote:

Thanks for the input Mrs optimist and all input is always welcome. But when you use words like 'No sympathy' in an evironment (DFW board) where mutual support is the one of the only things that brings us all to bear our crosses, be careful what you say. We all have our problems we are all in debt on this board for one reason or another, some irresponsible some not so. But we dont lock someobody up nowadays and throw away the keys, we rehabilitate them. Let us do this and dont judge us all or tar us all with the same brush.

Lenny

BTW, didnt mean to sound nasty!

Mrs_Optimist

No worries lennymfo - no offence taken ! I don't mean to sound or come across as unsympathetic, its just that some debt can be avoided - it is a bit like shutting the stable door after the horse has bolted saying that on here - but the one common theme throughout these threads is that when the lightbulb moment comes, posters do realise that they wasted money on unecessary things. I am debt free through choice - althought I would love to splurge and have a new tv (and even a video since ours has gone to the dogs) but we can't afford it without getting into debt. My perception of debt stems back to my childhood with our house being reposessed and having to live with an aunt and uncle (away from my parents) for months because my mum ran up debt on crap and we lost our home - so I suppose I do have a warped view perhaps. I didn't mean to sound negative, just that I am a victim of the debt scenario throught no fault of my own if that makes sense?? Just a bitter, twisted Mrs Optimistic!!

System

Mrs_Optimist wrote:

No worries lennymfo - no offence taken ! I don't mean to sound or come across as unsympathetic, its just that some debt can be avoided - it is a bit like shutting the stable door after the horse has bolted saying that on here - but the one common theme throughout these threads is that when the lightbulb moment comes, posters do realise that they wasted money on unecessary things. I am debt free through choice - althought I would love to splurge and have a new tv (and even a video since ours has gone to the dogs) but we can't afford it without getting into debt. My perception of debt stems back to my childhood with our house being reposessed and having to live with an aunt and uncle (away from my parents) for months because my mum ran up debt on crap and we lost our home - so I suppose I do have a warped view perhaps. I didn't mean to sound negative, just that I am a victim of the debt scenario throught no fault of my own if that makes sense?? Just a bitter, twisted Mrs Optimistic!!

Good still friends then! You're dead right and it is the money secret, 'never spend more than you earn!' Don't want something now want if you need it an can afford it! As my dad told me when I became a father at 17 "You've made your bed now and you must lie in it, you must cut your cloth to your means no" and he was right, you can apply that to most things in life especially finances. Ive learned my lesson the hard way and want to resolve all my debt. The DMP has allowed me to do this!! Cheeeeeeeeeers
Whereas my other friends dad told him 'if you're not home by 9pm, come home' I think in my case this may have been more valuable!
Lenny

surfcat

amosworks wrote:

I'd be careful y'all before you start suggesting not paying back your debt or the moral-high-horse-brigade will be hot on your trails telling you that you're a sinner and are going straight to hell and do not collect £200 etc. etc. etc. yawn.

Gordon Brown decided that "developing countries" will have their national debt wiped out. I say damn him, I'll buy those accounts and happily collect those debts. After all, they ARE debts are they not?

Now watch the moral-high-horse-brigade get hot under the collar trying to set double standards and explain that one away :rolleyes:

Well if you don't pay back the debt, who do you think does? Do you think it falls out of the sky into the hands of the creditors? Do they go to the money tree and pluck off a few crisp notes or mine for some more gold? I'll tell you where it comes from - the pockets of those who stick to the rules, the pockets of the frugal, the pockets of those who work hard and pay their taxes, the pockets of those who don't claim benefits because they're too proud to take from an overloaded system. Good for Gordon Brown trying to wipe out the debts of a continent we raped for decades, rather that than throwing more money at baby popping chavs on council estates who then demand their rights to more handouts.

I'd rather be up here on a moral high horse than down in the gutter. And I DO have debt too.

amosworks

amosworks wrote:

Now watch the moral-high-horse-brigade get hot under the collar trying to set double standards and explain that one away :rolleyes:

surfcat wrote:

Well if you don't pay back the debt, who do you think does? Do you think it falls out of the sky into the hands of the creditors? Do they go to the money tree and pluck off a few crisp notes or mine for some more gold? I'll tell you where it comes from - the pockets of those who stick to the rules, the pockets of the frugal, the pockets of those who work hard and pay their taxes, the pockets of those who don't claim benefits because they're too proud to take from an overloaded system. Good for Gordon Brown trying to wipe out the debts of a continent we raped for decades, rather that than throwing more money at baby popping chavs on council estates who then demand their rights to more handouts.

I'd rather be up here on a moral high horse than down in the gutter. And I DO have debt too.

Quod erat Demonstrandum.

molesworth

If you don't pay back your debt then other people will have to pay it back for you (the other customers of credit card companies/banks) over time through various charges. It won't be the banks etc who lose out - they make sure of that because they are businesses.
Why should Martin start a campaign to make other ordinary people pay off our debts?

isgman

OR... maybe... it would be very nice if we all were given one month a year in which we don't pay TAX,, that would give us all a "boost".. then if that did not work,, we could look at your first thought again.,.LOL Dream On...