Here's an idea-live like a king then......

grex9102

..... Go into an IVA or trust deed or whatever, then start all over again!!!

I'm actually half-serious!

Here's the plan, rack up a HUGE debt - say £30k+, then simply declare you cant afford it, go into a deed or an IVA, 3-5 years later thats you. Repeat until you're pensioned off. Sorted.

What's the point of being a "have not"? Live the high life and let the banks pay!

Obviously you need to have no assets, house etc, but hey. Life's too short....

Anyone agree?

earwig

this is the reason why people who go bankrupt or have a iva get such a hard time on these boards but if you think it is so easy to do it then go and try and do it and when you find its not quite like that and your worried out of your head then you can come over to the bankrupcty board to see what it is really like to be in that postion

GirlRacer_2

Having a IVA absolutely shatters your credit rating for years and years. Whose going to lend to you again?

Have you been through Bankruptcy, IVA, debt problems. Don't think you could constantly stick the stress and sleepless nights!

Toto

I did work out once that the total credit I had ever been given could have bought me a house. I had around 14 credit cards at one time, I was transfering balances to 0% so had many which had used the 0% period and were empty. But had I have wanted to I could have withdrawn around £150,000 and bought a house cash! At least I would have had something to show for my debt. I guess I could have then done an IVA and got my house half price LOL. But, in reality it isn't that easy probably for this reason.

Makes you think about how much credit is offered to people though.

livinginhope

grex I think you are very mis-informed about the implications of debt,it is not as easy as 'just get an IVA' you have to justify why you got into debt in the first place.I agree that some people enter into BR and IVA too lightly,but the majority go through many sleepless nights,health problems caused by stress,fear of answering the phone or opening letters and some even consider suicide.
Please consider these things before you make a post like this again,some people,like I was when I first posted,really are at the end of the line,this can be the tipping point for many,so have some heart,please.
LIH

Lynne41

I think this post was ill-judged when you read the pressures that people on this board and the BR board are facing.

And it's never the "banks" that "pay". They are businesses. They pass their costs on to their customers. It's ordinary people who pay when banks lose money.

dang

"Anyone agree?"

I hope not!

Otherwise why dont we all just grab a gun,walk into our local bank and take all the money we want - we could live like kings that way to.

mrsmortenharket

grex9102 wrote:

..... Go into an IVA or trust deed or whatever, then start all over again!!!

I'm actually half-serious!

Here's the plan, rack up a HUGE debt - say £30k+, then simply declare you cant afford it, go into a deed or an IVA, 3-5 years later thats you. Repeat until you're pensioned off. Sorted.

What's the point of being a "have not"? Live the high life and let the banks pay!

Obviously you need to have no assets, house etc, but hey. Life's too short....

Anyone agree?

I am going to assume you are being sarcastic.

anyway, you'd live like that for what, a year. Then for most of the rest of your life cos your credit rating will be shot you won't be able to have anything. Its better to have the odd honestly paid for treat than screw up your life for frippery.

Lisa

piptiddlepip

...and if you don't keep up your payments on your IVA, and the Insolvency Service get hold of you, they will take away all your nice toys and slap a 15 year Bankruptcy Restriction Order on your backside. Try living like a king then.

Of course, you could try it...if you can live with being little better than a thief.

Crown

I too hope your are being sarcastic as people who do live there lifes running up debts with no intention of paying it off are complete scumbags in my eyes.

because of a couple of these scumbags I was left with £7000 of debt when they didnt pay there rent and refused to leave the property they had rented from me.

Its also immoral and and outright theft. its this very reason why most of us who are trying to sort out our debt issues have such a hard time from our creditors. how do they know we havent done exactly this? so were all are labelled with the same tag and in the end all pay the price with the outragous bank fees. someone has to pay for this debt and it certainly isnt going to be the banks.

rant over

immoral_angeluk

grex9102 wrote:

..... Go into an IVA or trust deed or whatever, then start all over again!!!

I'm actually half-serious!

Here's the plan, rack up a HUGE debt - say £30k+, then simply declare you cant afford it, go into a deed or an IVA, 3-5 years later thats you. Repeat until you're pensioned off. Sorted.

What's the point of being a "have not"? Live the high life and let the banks pay!

Obviously you need to have no assets, house etc, but hey. Life's too short....

Anyone agree?

Yea ok the highs would be great but the come down would be MASSIVE.