What is £1 worth to you?

Smodlet

Easier to fool one person than one hundred and fifty thousand, no?

Spoonhead88

sourcrates wrote: »

Debt relief order.

In a nutshell :

no more than 20k of debt.

You must have £50 or less, left after all essential bills are paid.

You can have a car worth up to £1000.

You must not be a homeowner.

You must apply through an intermediary such as stepchange, it will cost you a £90 fee.

If your DRO is accepted, your creditors are forbidden from contacting you, you make no payments to your debts for a period of 12 months, (thus making it an ideal solution for the unemployed) after which your debts are written off, and you are debt free.

Google DRO for more information.

Thank you very much, I don't meet the requirements as I have very few outgoings so i am left with more than £50 a month after essential bills.

forgotmyname

I had debt issues and wouldnt have dreamt of asking a family member for help never mind a stranger.

Instead i slapped myself around the head with a heavy object and said you fool ot words to that effect and sort yourself out. In my case it was a good job one day and having it now and paying later and then no job and bills coming in for stuff we bought or did months ago.

Quick and hard lesson, one mistake i will never do again.

One of my sisters is constantly in debt, will i offer her any money, NOT A CHANCE... say all the bad thoughts you want. But consider the situation where you give her your last penny so she can pay a bill and whilst your making meals from random tins in the cupboard that have not seen the light off day for many years. You phone her and she is in the cafe.

But she doesnt have any money? Why is she in the cafe buying dinner? Then 2 days later she is at the seaside for the day. She will have no issues spending her money and yours and still not have a penny saved.

Lynplatinum

Hiya

Over the years I have loaned many people money and they have always repaid me. Except for one. And they 'borrowed' the most.

It is a complete lack of Education about finances and how to manage money that causes much of the financial misery.

I always used to use teaching percentages as a way of showing GCSSE level children how credit cards work and how easy it is to get into trouble with them.

Reason two is the perception of how much stuff we are supposed to want and need in life - mostly due to advertising. If you look at the Not Buying it thread on the Old Style Board you will see discussion of how companies try to part us from our cash with very clever, psychologically researched methods.

Once you can Elucidate that is what is happening you can refuse to be suckered in!!

Enlightenment is often referred to on MSE as the light bulb moment when one realises that one is in trouble and there is much advice on here as to how to get out of it.

The OP is, as I read it, suggesting a kind gesture to folk in trouble by the donation of a pound from lots of people.
But would it be kindness???? What would the recipient of this learn??? that others will always pick up the tab???
I believe it would be kind to help them to get Educated and learn to Elucidate why they are in difficulties (and learn to break bad habits eg a coffee or newspaper everyday). Then , hopefully, they would become Enlightened about how to get rid of debt and how not to get into it again :j

So I would not loan a random stranger a pound but would buy a beggar a food item.
good luck avoiding the sharks of commercialism folks!

Sanctioned_Parts_List

So OP's describing Kickstarter, applied to personal debt, then?

Might work, if done well enough, but there is enormous potential for abuse, by both donors and recipients...

takman

Sanctioned_Parts_List wrote: »

So OP's describing Kickstarter, applied to personal debt, then?

Might work, if done well enough, but there is enormous potential for abuse, by both donors and recipients...

Now you say that what the OP is describing is the "Just Giving" website. Coincidentally I just went on the site and on the front page was someone seeking funding to pay off someone's mortgage and council tax arrears.

So there you go Basic_Samwell !

engineer_amy

the advice offered on this forum is worth so much more than £1.


if everyone gave someone enough £1's to pay off their debts, what happens next? That person hasn't learnt anything, and will probably continue living and spending beyond their means and arrive in exactly the same situation. Then they are back on here begging for more help.


regular posters on here will have seen it all, and give their time and advice freely, hoping to help someone get out of the debt spiral. following this advice, people are saving pennies, pounds, hundreds, thousands.... And they are changing their lifestyle accordingly, budgeting, saving, not wasting money on frivolities (like interest!)

NYGiants

Basic_Samwell wrote: »

I would donate £1 no problems to elevate someones debt.

Why would you want to increase someones debt? :think: