Why the negativity towards not paying

PinheadSK

LOL... really wouldn't matter who owned the company.

If I owed it, then I'd pay it, unless circumstances changed and I couldn't, then I'd look for other options (and that includes a write-off)...

I'm not savvy enough to understand how a business with £716 million debts has a £50 million profit... still trying to get my head around that one!

Sean

never-in-doubt

PinheadSK wrote: »

LOL... really wouldn't matter who owned the company.

If I owed it, then I'd pay it, unless circumstances changed and I couldn't, then I'd look for other options (and that includes a write-off)...

I'm not savvy enough to understand how a business with £716 million debts has a £50 million profit... still trying to get my head around that one!

Sean

See now that's what i'm talking about! The truth of the matter is if it was a case of paying a credit card monthly payment or dinner for the kids which would you do?

So, imagine this scenario:

You work your arsey off and stay loyal to your bank for years and then all of a sudden, from nowhere get told you're being laid off.

You then do everything you can to pay the debt but all the while it is wearing you down, you give them your last £50 and still they ring you 50 times a week..... then you find a site like this and figure that if the documents you signed were never legal, you could walkk away from your debt - would you?

Too goddamn right you would, and so would anyone that has a brain! Those that cry foul are idiots for not realising family comes first - debt comes second.

Those that tried to reverse this are either homeless and family-less as a result of their pig-ignorance or skint for years when after 6 they would be debt free.

You choose :beer:

PinheadSK

never-in-doubt wrote: »

Nope it does not as I said, but long term it may (as the Gov't will not do another bail out will they!)....

I am actually one of the few people on here that fully understand this thanks, my research is essentially upto date and needs no additional material, thanks.

Businesses (all) make losses, every single company in the world makes losses but it is how they recoup them that matters, banks have insurance to cover losses in this way, and if not it is usually deducted from overall P&L meaning the actual shareholders are affected NOT the customers.

But you can't have the arguement both ways! You say it doesn't, then you say it may...

And your logic is flawed. I accept and understand that may have a lot of knowledge in this area and provide good advice to people but the mere fact that businesses have to insure themselves means there is a cost. That cost is met by their customers.

The question was asked why it may be that some people 'jump' on those that don't repay their debts. I gave an opinion as to why that may be. You then decided my opinion is worthless and I must live on Mars. If you don't like the opinion, feel free to ignore it as until you can prove to me that there is no knock on effect, then I will continue to believe there is.

That's just about my last word here as this isn't an arguement I sought or care to get more involved in.

Sean

never-in-doubt

PinheadSK wrote: »

But you can't have the arguement both ways! You say it doesn't, then you say it may...

And your logic is flawed. I accept and understand that may have a lot of knowledge in this area and provide good advice to people but the mere fact that businesses have to insure themselves means there is a cost. That cost is met by their customers.

No, the cost is not - it is met by operating margins or budgets as we call them.

Do you actually know how a business works?

PinheadSK

I accept that (Post #23). If you can't pay, then there has to be a priority list - survival first, debts later.

But that isn't how I read this thread... especially after the comment of don't use the stuff anymore so don't need to pay. To me (and I actually believe it's just a provocative comment for effect) then that's saying I'm trying to stick it to the man because I can, not because I'm in financial trouble.

Lenders have to be responsible... and so do borrowers.

Do I know how a business works? Yep, on profits and losses... over time the former needs to outweigh the latter... or the business disappears.

That's me done here. Have a great evening.

Sean

ILW

never-in-doubt wrote: »

See now that's what i'm talking about! The truth of the matter is if it was a case of paying a credit card monthly payment or dinner for the kids which would you do?

So, imagine this scenario:

You work your arsey off and stay loyal to your bank for years and then all of a sudden, from nowhere get told you're being laid off.

You then do everything you can to pay the debt but all the while it is wearing you down, you give them your last £50 and still they ring you 50 times a week..... then you find a site like this and figure that if the documents you signed were never legal, you could walkk away from your debt - would you?

Too goddamn right you would, and so would anyone that has a brain! Those that cry foul are idiots for not realising family comes first - debt comes second.

Those that tried to reverse this are either homeless and family-less as a result of their pig-ignorance or skint for years when after 6 they would be debt free.

You choose :beer:

Must have put a lot of food on the table to run up a £20,000 debt.

Sandrock

mufc689908 wrote: »

Are the majority of people on here employess of credit card companies?

Whenever the subject is raised of not paying credit card debt the amount of people on here up in arms is suprising to say the least.

Im on 8k at the moment and well on the way to making that 15k written off, when the last ones taken care of that will make it 20k.

The credit card companies have been ripping people off for years why does half the forum love them so much?

Because some of us work damn hard to pay for what we use and not get into debt and it becomes irritating when you see someone who has been stupid enough to run up huge card debts, usually by living well beyond their obvious means being allowed to simply write it off with no or little come back.

Also, 'someone' has to pay for the amount written off. It is easy to say the banks will pay - but they will simply claw this cost back from the consumer in other ways.

Also, when you say the CC companies having been ripping you off - what to you mean by this? You make the decision to spend the money on the card, no-one else.

PS. If we're talking about reclaiming bank charges, etc. I agree that this is fair.

CannyJock

never-in-doubt wrote: »

Businesses (all) make losses, every single company in the world makes losses but it is how they recoup them that matters, banks have insurance to cover losses in this way, and if not it is usually deducted from overall P&L meaning the actual shareholders are affected NOT the customers.

I've never made a loss in any of my companies

misty_blue_2

I dont think people run up debt with no intention of paying it back

peoples lives can change dramatically with the click of a finger, either losing your job, ill health or loved ones dying ect
you try to negotiate payments and pay back what you owe, but a lot of the times creditors are not understanding at all.
So you do something that you dont really want to do and go down the cca route, because creditors will not let you make reduced payments or take into account your circumstances that you find yourself in
People are being judged for being in debt without being able to pay it back, but most of the time they were able to pay it back until circumstances changed and difficulties arose.

never-in-doubt

ILW wrote: »

Must have put a lot of food on the table to run up a £20,000 debt.

:rotfl::rotfl:

Maybe big eaters>




so that's where all the pies went then lol