worst case of unsecured debt you have heard of?

Tommy81

blisteringblue wrote: »

When BR is only option? Are you having a laugh, 200k spent on the hi-life and walking away 2 fingers up to everybody, but its a shame they lost the Range Rover. BR should be a last resort when you are totally at your rock bottom, not after a massive spending spree in your early 20s.

60K here, not proud of the fact, but I will be paying every penny back.

Just remember though the amount is not the important factor, it's debt to earnings ratio that is important. 20k of debt to somebody earning 12k is the same as 70k to somebody earning 60k.

I think that when you are 22 and 143k in debt that BR probably is the only option!!!! I am not saying that I think it's right or that the behaviour of the person is acceptable but realistically how are they going to clear that debt??

purdyoaten

Tommy81 wrote: »

I think that when you are 22 and 143k in debt that BR probably is the only option!!!! I am not saying that I think it's right or that the behaviour of the person is acceptable but realistically how are they going to clear that debt??

Yes - this is what I meant when I said:

not my job to advise about the obvious other concerns that most would fear

To simply walk away from the court having paid £495 (or so, with even that borrowed from her fiance) and 'reassuring' the judge that she would be a good girl from now on did leave a sour taste in the mouth.

Tommy81

purdyoaten wrote: »

Yes - this is what I meant when I said:

not my job to advise about the obvious other concerns that most would fear

To simply walk away from the court having paid £495 (or so, with even that borrowed from her fiance) and 'reassuring' the judge that she would be a good girl from now on did leave a sour taste in the mouth.

It does seem too easy although I do try to not be too judgemental as I am in 30k of debt myself purely down to mismanaging my money and buying things that I couldn't afford. I can see how I may have ended up in 100k of debt if I hadn't had my wake up call.