Guardian BANKRUTPCY Article

was_bankrupt · 29 September 2006 at 6:56PM

The following article was published in the guardian today. It provides an insight to bankruptcy as well as other solutions.

The Road to Ruin

Mike_St_Helens · 29 September 2006 at 7:00PM

Thats a really good article.

Thanks

Broken_hearted · 29 September 2006 at 7:57PM

Boy was that depressing, I've just started an OU course and it made me think whats the point.Poor lass she was trying to better herself.

**purpleprincess** · 29 September 2006 at 8:19PM

This was in the town where I live.

Mike_St_Helens · 29 September 2006 at 8:19PM

Do you know her ?

towseriv · 29 September 2006 at 8:26PM

Morale boosting article or what!!!!!!!

**purpleprincess** · 29 September 2006 at 8:33PM

Mike_St_Helens wrote:

Do you know her ?

Don't think so :think:

We get a large number of bankruptcies each week at work.

Pobby · 30 September 2006 at 10:47AM

Pretty much sums it up.Great article.One thing that occurs to me{as a middle aged bloke},when I was a young man starting out at the beginning of the 70`s I earnt,pre tax,£24 for a 6 day week.That was considered a good wage.By 1980,agreed that I had enjoyed promotions,I was earning £200 a week plus a company car and benefits.In1974 my first house was a little under £10,000 and my income was £35 a week{plus long suffering wifes income of just over £20 a week}.

Inflation,this was the key to staying ahead of the game.Any debt that was taken on was drifted away by huge pay rise inflation.That is very unlikely to happen now.The BOE is commited to keeping a firm control on inflation.Whilst government figures state that inflation is below 3% the real fact of the matter is that it muchigher than this.Gas and electric,council tax to name two things are rising way above the 3% figures and as for homes goodness knows what ahs happened there.Wages,however,are not keeping up,taxation is an increasing burden.

To quote that there will be 100,000 bankrupties by the end of the year,I feel that this figure is very conservative.

rog2 · 30 September 2006 at 10:49AM

An excellent article. Should be enforced reading for those who are so quick to judge.

was_bankrupt · 3 October 2006 at 6:28PM

It was surprising how honest the article is. People say that it is depressing but they are real life stories.

HokeyCokey_3 · 3 October 2006 at 6:54PM

It's interesting to read stories such as these. Made me realise how I must get on top of my own debt now, rather than later. I found their stories quite inspirational.