Elantan's rant

ftbworried

Hang on, if he's opening accounts/getting credit in other peoples names- isn't that fraud??? are they ficticious names or are they family memebers- if its the latter then what are they gonna think when their credit gets ruined by him in the future (when he bleeds their accounts dry too).

elantan

no what he did was get the loans in his name then put the money by in other people's names ..sorry probably didnt make myaself clear enough

Tootsie_Roll

Unfortunately this attitude is a lot more common than you may think and explains why lenders/dca's et al chase debt in the way that they do. The majority of posters on this site have come here because they want to deal with their debt but overall you are the minority.

Wonder girl states that his bankruptcy restriction order will most likely be more severe than the usual 3-12 months but I have to say I would be very surprised if it was. The enterprise act practicaly encourages behaviour like this, although that wasn't its original intent.

richardvc

Rant time ----

Elantan, I understand your feelings of frustration and anger. You can rightly see that your nephew has abused the system but feel a sense of guilt due to family loyalty.

I can only comment on my situation but the debts I ran up on my credit cards etc were used to pay the mortgage, household bills and put food on the table and NOT to have a great holiday, new car etc etc

I still feel very guilty/ashamed/upset that I had over £36k worth of debt (£15k to the Inland Revenue)yet have managed to pay £25k of it off by sellling my house and taking full responsibility for my actions. I am now down to approx £11k and am paying that off bit by bit. I will get there but there is a road still to travel.

I have been to hell and back but now my life is looking good with ME in control of my destiny be it financial or otherwise.

THEN I read this post about someone purposely behaving irresponsibly with money/loans and then allegedly boasting about it. I am sure he will get away with it and not repay a penny.

I have fought hard to regain my self-respect and I have made a lot of sacrifices to get my problems sorted. Thanks goodness my partner took me in as without her I would be down and out.

I am so angry when I see someone take the p*** - we all get tarred with the same brush as 'spendaholics' when it really isn't the case. All I tried to do was keep the roof over my head after redundancy etc.

Let's hope justice finally catches up with him.

Rant Over (say richardvc walking away obviously still angry!!)

lynzpower

Tootsie_Roll wrote:

Unfortunately this attitude is a lot more common than you may think and explains why lenders/dca's et al chase debt in the way that they do. The majority of posters on this site have come here because they want to deal with their debt but overall you are the minority.
.

I never thought Id agree with you toosie roll, but the fact is that we ARE in the minority. I went to a mates for dinnner last night, we are all pushing 30, and Im the only one paid off my S Loans. One person said "they can whistle for it, im not paying it!"

And these are educated people who understand how the world works.

When I speak to people about becoming debt free, they ask me why I bother

I say, Id rather be 400 quid a month better off sooner rather than later :beer:

mrslawrence2003

richardvc wrote:

Rant time ----

Elantan, I understand your feelings of frustration and anger. You can rightly see that your nephew has abused the system but feel a sense of guilt due to family loyalty.

I can only comment on my situation but the debts I ran up on my credit cards etc were used to pay the mortgage, household bills and put food on the table and NOT to have a great holiday, new car etc etc

I still feel very guilty/ashamed/upset that I had over £36k worth of debt (£15k to the Inland Revenue)yet have managed to pay £25k of it off by sellling my house and taking full responsibility for my actions. I am now down to approx £11k and am paying that off bit by bit. I will get there but there is a road still to travel.

I have been to hell and back but now my life is looking good with ME in control of my destiny be it financial or otherwise.

THEN I read this post about someone purposely behaving irresponsibly with money/loans and then allegedly boasting about it. I am sure he will get away with it and not repay a penny.

I have fought hard to regain my self-respect and I have made a lot of sacrifices to get my problems sorted. Thanks goodness my partner took me in as without her I would be down and out.

I am so angry when I see someone take the p*** - we all get tarred with the same brush as 'spendaholics' when it really isn't the case. All I tried to do was keep the roof over my head after redundancy etc.

Let's hope justice finally catches up with him.

Rant Over (say richardvc walking away obviously still angry!!)

interesting.

i, like you, am deeply in debt. i got there by paying for my degree, paying for a roof over my head whilst starting my career in a low paid job that meant we couldnt make ends meet for 2 years, a honeymoon (ok - not essential but we did scrimp and save for the wedding and also my parents helped) and then to make ends meet when i couldnt work for a while. yes - some of it was on fun stuff but the majority wasn't.

i cant help thinking why am i struggling like this to pay it all back - why dont i just go banrkupt? i dont own any decent possessions like a house or a car - in fact the most valuable thing i own is probably my tv that cost £150. i am only 27 and the debt is such a huge burden that i do sometimes fall over with it.

BUT, i am also responsible and honest. i can afford to pay my debt back as long as i am careful and go without things. its give me a huge sense of satisfaction to work hard and pay things back.

but my goodness, what i wouldnt give to get rid of this burden. it casts such a dark shadow over my life at times.

climbgirl

The ORs aren't stupid, I believe you have to prove that you haven't just wasted the money on ridiculous things as part of the bankruptcy. So perhaps his ride isn't going to be as easy as he thinks.

I'm afraid Tootsie Roll is right however, people on MSE aren't the majority (although reading these boards obsessively can make it seem that way!)

richardvc

mrslawrence2003 wrote:

interesting.

i, like you, am deeply in debt. i got there by paying for my degree, paying for a roof over my head whilst starting my career in a low paid job that meant we couldnt make ends meet for 2 years, a honeymoon (ok - not essential but we did scrimp and save for the wedding and also my parents helped) and then to make ends meet when i couldnt work for a while. yes - some of it was on fun stuff but the majority wasn't.

i cant help thinking why am i struggling like this to pay it all back - why dont i just go banrkupt? i dont own any decent possessions like a house or a car - in fact the most valuable thing i own is probably my tv that cost £150. i am only 27 and the debt is such a huge burden that i do sometimes fall over with it.

BUT, i am also responsible and honest. i can afford to pay my debt back as long as i am careful and go without things. its give me a huge sense of satisfaction to work hard and pay things back.

but my goodness, what i wouldnt give to get rid of this burden. it casts such a dark shadow over my life at times.

Perhaps we are the foolish ones for not going bankrupt !!

I am so desperately proud of myself for getting out of the hole that I was in but guess I am looking for something extra to show that 'yes I was in debt but chose to pay it back rather than go bankrupt' !!

Don't get me wrong, I know in this day and age that we all live on a knife edge with regard to finances and anyone who has to go bankrupt feels truly awful. But the irony of it (they walk away and I carry on paying for years at no advantage to myself) does seem to hurt a little.

saver6

People like your nephew's brother really do make my blood boil. He thinks money costs nothing and that he cannot lose in this, but whether he gets away with it or not it will be irrelevant for his family as it will be they who suffer ultimately (either by being in prison for fraud, debt ridden up to the hilt or no longer able to support them or provide a decent home) and it is truly sad that he cannot see that. I am pretty sure this is fraudulent behaviour and we can only hope that the system works to throw his bankrupty claim back in his face and makes him pay back every penny of it. Have you thought of reporting him at all? Remember, it would be for the good of his innocent family.....I wonder if they realise how dangerous his game is? If they know at all!

Reminds me of a similar situation that my OH told me about. A colleague of his said he was gonna apply for loads of credit, withdraw everything as cash, then go and travel/live in Australia, therefore never needing to pay it back. Idiot.

These sorts of people have a hell of a lot of bad karma coming their way....

fatpigeon_2

Does anyone know how this type of behaviour may affect other people? ie If a lender loses enough money from this type of scam would they come down harder on people who are still struggling? Or perhaps if enough people commit this type of fraud the govt will change IVA law and make it harder for genuinely indebted people to get themselves right?

I think it's a despicable thing to do, especially considering the wider implications for ordinary people.