Insolvency statistics Q2 2014

DorisTrousers

Ahh, I see. My erroneous assumption by the looks of things then.

Mind you, you may have missed the deeper message in there, which is that by the time it comes around, we may be comrades on the dark side.......

It would be better if it were being held a week later though.

Depth_Charge

Hi

Yep, I must admit that I missed that one (not like me at all as you would probably agree)

Maybe you have listened to me more than I thought...maybe

If it is the genuine 'dark side' as you put it, comrade indeed, as that is where you will always find us and nowhere else, but I am quite sure you already know that.

I will look out for your 'arrival' but in the meantime the free white will do nicely:)

Regards

DC

Depth_Charge

Hi

Interesting take on the Debt Relief Order review here from ABCUL (quoted paragraph in particular)

ABCUL Policy Manager Frank McKillop said: “While it is important that people with unsustainable debts have access to debt relief, it is also very important that creditors are treated fairly. This is especially vital for credit unions, since their loans are made from other peoples’ savings and need to be recovered wherever possible.

http://www.abcul.org/media-and-research/news/view/474

Controversial comment some might say but it just shows the possible wider concerns & potential implications of any review.

Those words independent & impartial might just raise their weary heads again in all this!

Fascinating to watch how this all pans out

Just my view as always

Any comments

DC

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fatbelly

It might be that I'm a bit slow here but I'm not clear about the point that she is making. Is she saying that credit union debts should be excluded like social fund debts?

That's what I would expect her to say in her position. It's not something that I'm going to agree with, just as I disagreed with the rule change on social fund loans.

Depth_Charge

fatbelly wrote: »

It might be that I'm a bit slow here but I'm not clear about the point that she is making. Is she saying that credit union debts should be excluded like social fund debts?

That's what I would expect her to say in her position. It's not something that I'm going to agree with, just as I disagreed with the rule change on social fund loans.

Hi

I'm with you on all points here

Mr Killops comment on treating creditors fairly seems to make no sense at all to me when talking about debt solutions especially formal ones such as Bankruptcy & DROs

In my experience with Credit Unions of late they have the issue of just who they can actually lend to due to credit checks and existing debts.

New online application systems but maybe their original target customer if that is the right word are proving difficult to lend to due to the above. This combined with lending to 'lets say' existing high risk customers and potential defaulters who may end up seeking long term advice and solutions on their overall debts in the future could mean big problems ahead for Credit Unions.

At the end of the day however people enter debt solutions to become debt free and a fresh start so saying or suggesting this and that creditor should be treated differently or particular debts sitting outside formal solutions and still payable in my opinion makes a mockery of the whole process and of course the debtor still has outstanding debts!

Tricky times ahead for Credit Unions in my opinion but that could also be said for other agencies along with many people and families suffering the misery that can come with struggling in debt

Like I said: those words independent & impartial raising their weary head once again and you can never run with the hare & the hounds

Just my views and to set the record straight I always support Credit Unions and indeed have had a limited involvement with them on occasions.

DC

longtermplanner

Indeed DC. When I have seen a client with a debt to a credit union, I feel sorrry for the CU but it can't stop me giving the clients impartial advice, nor should CUs get preferential treatment in insolvency.

Depth_Charge

longtermplanner wrote: »

Indeed DC. When I have seen a client with a debt to a credit union, I feel sorrry for the CU but it can't stop me giving the clients impartial advice, nor should CUs get preferential treatment in insolvency.

Hi

I know exactly what you are saying:)

And I agree

DC