Naughty with Credit Card debt but it had to be done

NPowerUser

I will never need to remortgage, who is going to lend someone any money with no accounts or unproven income?

Whether I have a brilliant credit record or not, it will make no difference to me.

When I decided to do what I did, I did so in the knowledge that I would never need to borrow again. If and when I ever move it will be mortgage free. I put over 75% of the bungalows equity and borrowed the rest. I could sell up tomorrow and still buy somewhere if I wanted, new windows, new damp work, total rewire has already added value.

I was wrong to do what I did but if the system is there to be used to ones advantage then sometimes you have to grasp it. The weird thing is I wouldn't care where I lived or rented, as long as it wasn't the old house I lived in.

Lets see over the next 6 months what happens. They will probably offer me another 6 months interest free deal but until they threaten more serious action I will sleep like a baby at night. :beer:

CannyJock

Don't know anybody in their 40's who's successfully self-employed who only earns £14k.

Can't see what the big deal is personally. Two cards with a total of £7.5k should be chicken feed. 12 months max to clear them if you got your finger out.

NPowerUser

CannyJock wrote: »

Don't know anybody in their 40's who's successfully self-employed who only earns £14k.

Can't see what the big deal is personally. Two cards with a total of £7.5k should be chicken feed. 12 months max to clear them if you got your finger out.

Part time self employed income does vary. When I paid my old mortgage off in 2006 I worked less hours as being mortgage free was nice not having to work to meet those payments. I really had visions of staying put but things got very bad in my neighbourhood to the point I could have thrown the house keys away, it got that bad.

This in turn presented a problem. I had to go to an IFA who fast tracked me (self cert in all but name only). Explaining to my bank (the normal route) that I worked less in 2006/7/8/9 as I was mortgage free only made borrowing difficult, nigh on impossible, even though I said I would increase my hours. The IFA got me a good deal and I jumped at the chance to get away.

So wrong I know but one day I will pay them off just not anytime soon.

£600 repayment a year on both cards until such time as the credit card company no longer accepts the arrangement. If I have spare cash maybe better off saving it to help with the moving costs in 2 years time?

Rupert_Bear

dmg24 wrote: »

I take it you are not still intending to be debtfree by the end of this month, as you were in this thread?



What happened to the fortnightly updates ... and the £14,000 income that halved in a later thread?

Methinks this guy makes it up as he goes along! :rotfl:

w


Me thinks he is full of the brown stuff:rotfl:

Any

Rupert_Bear wrote: »

w


Me thinks he is full of the brown stuff:rotfl:

And so do I!!!

"Drastic measures" - and then "my wife sees rent as dead money:rotfl::rotfl:"
Yeah, because he is definitely going to get the money back from this house!!

OMG!!! He is either seriously thick (and I don't swear on forums) or psychopath.:eek:

Or.... simple and most likely answer - a troll!!!

hullight

I hope where you now live turns into a rotten sinkhole over the next couple of years and you get stuck there just so you realise what you have done is sooooo silly!

No wait that's pretty mean...:D

NPowerUser

hullight wrote: »

I hope where you now live turns into a rotten sinkhole over the next couple of years and you get stuck there just so you realise what you have done is sooooo silly!

No wait that's pretty mean...:D

Yes, as mean as ripping off the credit card companies. :rotfl:

HouseHuntr

NPower, I can't make out what you're more of.......a Troll or a D I C K, probably both though !

NPowerUser

I didn't realise so many people would get worked up over someone not paying their proper dues to a credit card company and then hoping they end up homeless, tut tut, some people need to take a chill pill.

You can see that many people on this forum have thanked me for previous posts so you can see there would be no need to make this up. My income has fluctuated, so what, many self employed peoples income do all the time.

All I wanted to do was see whether people would take the same risk with their credit rating I have taken if it was the only way they could move away from noisy, anti social, druggie neighbours.

As for the expenditure on credit cards, the window frames in the new house were rotten, you could stick a screw driver through them and many of the panes were cracked. The wiring was lead sheathed, no heavy electrical appliances previously being used, I couldn't afford to take the fire risk. What started out as a simple damp job, turned into woodworm throughout the property. The guttering was missing and a lean to roof was rotten, all this needed replacing.

I couldn't afford a proper survey so relied on the basic lenders report, which was very basic to say the least.

The IFA regs are probably being tightened so such opportunities to fast track will not exist in the future. The house we sold was under time pressure as my buyer wanted to avoid stamp duty, I was worried that if we didn't exchange and complete within a reasonable timeframe we would lose our buyer and lose the mortgage offer.

In hindsight, it would have been sensible to buy a semi as opposed to a detached bungalow needing so much work but there wasn't the choice when I was looking.

I wont add anymore to this thread as it clearly upsets some of you but there is more to life than protecting banks profits. It was never BS and if it offended anyone I am sorry. I have tried to help others in the past and as I clearly indicated early on, this should only be done if you don't mind ruining your credit rating which I clearly have.

Take care and have a great Tuesday folks. Be happy. :j

Rupert_Bear

NPowerUser wrote: »

I didn't realise so many people would get worked up over someone not paying their proper dues to a credit card company and then hoping they end up homeless, tut tut, some people need to take a chill pill.

You can see that many people on this forum have thanked me for previous posts so you can see there would be no need to make this up. My income has fluctuated, so what, many self employed peoples income do all the time.

All I wanted to do was see whether people would take the same risk with their credit rating I have taken if it was the only way they could move away from noisy, anti social, druggie neighbours.

As for the expenditure on credit cards, the window frames in the new house were rotten, you could stick a screw driver through them and many of the panes were cracked. The wiring was lead sheathed, no heavy electrical appliances previously being used, I couldn't afford to take the fire risk. What started out as a simple damp job, turned into woodworm throughout the property. The guttering was missing and a lean to roof was rotten, all this needed replacing.

I couldn't afford a proper survey so relied on the basic lenders report, which was very basic to say the least.

The IFA regs are probably being tightened so such opportunities to fast track will not exist in the future. The house we sold was under time pressure as my buyer wanted to avoid stamp duty, I was worried that if we didn't exchange and complete within a reasonable timeframe we would lose our buyer and lose the mortgage offer.

In hindsight, it would have been sensible to buy a semi as opposed to a detached bungalow needing so much work but there wasn't the choice when I was looking.

I wont add anymore to this thread as it clearly upsets some of you but there is more to life than protecting banks profits. It was never BS and if it offended anyone I am sorry. I have tried to help others in the past and as I clearly indicated early on, this should only be done if you don't mind ruining your credit rating which I clearly have.

Take care and have a great Tuesday folks. Be happy. :j

Keep taking the tablets and with time and patience you will hopefully revert back to a credit worthy person. :rotfl: