Im not having a go...

tight_jock

MrsBees wrote:

Large companies may be able to budget for losses - but they do that by charging other people more - banks for instance - if everyone paid their loans back as agreed, instead of £1 a month as some people seem to be - (or even not at all) then the people who have full intentions of paying back what they owe, would get a better deal.

I think you may be confusing those who CAN`T pay back with those who WONT pay back. There is a huge difference here.
Circumstances can change in an incredibly short space of time regarding employment and especially small businesses. You only have to look in the gazette to see how many are failing week after week. All those people have had a circumstantial change. Nobody WANTS to go bankrupt but most have no other option.

The banks and finance houses also must shoulder some responsibility for irresponsible lending. I believe it is now possible to get a mortgage for SEVEN times income. That is plainly unsustainable and irresponsible.

MrsBees

If someone takes out a mortgage for 7 times what they are earning and does not consider how they are going to pay it back then in my view they deserve what they get.

Same with a loan - if you cant afford to pay it back then dont get one. I understand that circumstances change, but you should not be allowed to 'wipe out' a debt - it should go on hold until your circumstances change and you can pay it. As the OP shows - someone has to lose out and why shouldnt it be the person who owes the money in the first place.

skint_geordie2007

MrsBees wrote:

Same with a loan - if you cant afford to pay it back then dont get one. I understand that circumstances change, but you should not be allowed to 'wipe out' a debt - it should go on hold until your circumstances change and you can pay it. As the OP shows - someone has to lose out and why shouldnt it be the person who owes the money in the first place.

Some people just dont get it and never will.
I give up.

MrsBees

skint_geordie2007 wrote:

Some people just dont get it and never will.
I give up.

What is there to get???

I have had financial problems myself, but wouldnt dream of not paying someone back if they lent me money, or should i say STEALING FROM THEM. I would never borrow more than was physically possible for me to pay back. I would always consider worst case scenarios - i.e. ilness, my business going under and I would account for that when borrowing money. If someone owed me money and didnt pay I would be FUMING!!!! I would have done a lot more than the OP and I wouldnt stop either..

If I owed someone money and then couldnt pay them back I would sell everything I owned to pay them! its not THAT PERSONS fault if somthing happens to me.

I am insured if I die and so is my partner. My assets outway my debts. I have everything covered. Sorry but I just dont know what else there is to get. If others dont consider all this then it is their own problem and they should deal with it!

skint_geordie2007

The point of being insolvent is your assets outstrip your debts.
So you could sell all you want, it wont make a bit of difference.
Your getting back into cuckoo land where its small businesses being effected by bankruptcy. Its not its 99% big banks. And as I have mentioned some other time, these guys can print money. Read this if you dont believe me.

http://www.moneyreformparty.org.uk/

I dont really want to repeat again, that this is the last resort for everyone. If you dont like what people have done here, go somewhere else. If you want a proper arguement about it , going call some random a thief in the street. If it was stealing we would all be in jail. You can make up laws if you wish.

Most peoples assets dont outweigh their debts, as soon as you get a mortgage that normally ceases to be the case. Your obvisouly one of the lucky few, it still doesnt give you the right to call bankrupts thieves.

Maybe your just after attention. You are getting it, until people get bored and just realise you have issues. Good night, and enjoy yourself.

NekoZombie

MrsBees wrote:

What is there to get???



If I owed someone money and then couldnt pay them back I would sell everything I owned to pay them! its not THAT PERSONS fault if somthing happens to me.

I am insured if I die and so is my partner. My assets outway my debts. I have everything covered. Sorry but I just dont know what else there is to get. If others dont consider all this then it is their own problem and they should deal with it!

Sadly, this thread continues to go and go and go. I just wanted to say that I'm facing bankruptcy - not because I went on a mad shopping spree, but because my life hasn't turned out how I expected it to. If you think bankrupts get off scott-free, then remember that they pretty much end up selling everything including their self-worth. In my mind that's a pretty steep price. I find the inability for some posters on here to empathise really quite frightening. This is the 21st century, yet you seem to be advocating a victorian system where people get thrown into workhouses to face a lifetime of servitude for not paying their debts. If only we were all infallible! What a perfect world it would be...

Richard_S

MrsBees wrote:

What is there to get???

I have had financial problems myself, but wouldnt dream of not paying someone back if they lent me money, or should i say STEALING FROM THEM. I would never borrow more than was physically possible for me to pay back. I would always consider worst case scenarios - i.e. ilness, my business going under and I would account for that when borrowing money. If someone owed me money and didnt pay I would be FUMING!!!! I would have done a lot more than the OP and I wouldnt stop either..

If I owed someone money and then couldnt pay them back I would sell everything I owned to pay them! its not THAT PERSONS fault if somthing happens to me.

I am insured if I die and so is my partner. My assets outway my debts. I have everything covered. Sorry but I just dont know what else there is to get. If others dont consider all this then it is their own problem and they should deal with it!

Mrs Bees,

I love self righteous people like you, it just makes me appreciate the people more who are prepared to take risks in business and when things go wrong, dust themselves down, take the punishment, get themselves going and have another go.

If everybody had the same blinkered view as you in a capitalist democracy then this country would never have dragged itself out of the dark ages. How do you think overseas trade was financed in the days of sailing ships, thats where the concept of a company limited by shares was born. An enterprising individual would raise the money from a pool of wealthy investors, set sail, do his business, whether it was trade or piracy and if the voyage was a success everybody won, if it wasn't the guy ended up in the debtors prison.

I can well imagine you'll never find yourself in a bankruptcy court, you're that careful I'm almost falling asleep, but you'll never make a worthwhile contribution to the country. Banks expect companies and individuals to default on their loans, not every copmpany by definition can be successful, not every individual will accurately assess their future earnings.

I sympathise with the OP who picked up a bad debt, but that's business, if you can't accept that then they should be working for a living.

If you can't understand the difference between bankruptcy and stealing then might I suggest a trip to the library, there's a really good book on "Basic Economics for Imbeciles" I think it was by a guy called Marx, it never really caught on, bit of a dinosaur like people with your world view.

"You would have done a lot more" would you, I'm trembling in the shoes I never had to pay for. xx

NekoZombie

Richard_S wrote:

If everybody had the same blinkered view as you in a capitalist democracy then this country would never have dragged itself out of the dark ages. How do you think overseas trade was financed in the days of sailing ships, thats where the concept of a company limited by shares was born. An enterprising individual would raise the money from a pool of wealthy investors, set sail, do his business, whether it was trade or piracy and if the voyage was a success everybody won, if it wasn't the guy ended up in the debtors prison.

Yay! Great minds think alike! I guess we both read Charles Dickens...

MrsBees

Richard_S wrote:

Mrs Bees,

I love self righteous people like you, it just makes me appreciate the people more who are prepared to take risks in business and when things go wrong, dust themselves down, take the punishment, get themselves going and have another go.

If everybody had the same blinkered view as you in a capitalist democracy then this country would never have dragged itself out of the dark ages. How do you think overseas trade was financed in the days of sailing ships, thats where the concept of a company limited by shares was born. An enterprising individual would raise the money from a pool of wealthy investors, set sail, do his business, whether it was trade or piracy and if the voyage was a success everybody won, if it wasn't the guy ended up in the debtors prison.

:rotfl:

I bet the OP feels so much better knowing that people are taking risks with her money!!!!

MrsBees

Richard_S wrote:

"You would have done a lot more" would you, I'm trembling in the shoes I never had to pay for. xx

Sorry - no - if that was me I would go round to his house and take him a bottle of whiskey to say thanks for helping out the country and taking risks with money!