Do a bit of research before you make snap judgements please!

rog2

pipkin71 wrote: »

Slightly intrigued as to how Gd v Richard_S will pan out.

Thing is though guys - is it worth it? Why not both just step away eh?

Pipkin xxxx

Well said pipkin. :T :T

Migz

Graham_Devon wrote: »

Sorry, I'm on child minding duty tonight

That nearly as bad as.... I'm washing my hair :rotfl:

Toto

Migz wrote: »

Not one to watch blood sport myself, but these two... I will definately be going to watch, no offence is meant guys, but when you start its better than the telly :eek:

Migz

Oh I agree

fight fight fight fight.... sorry got carried away there, will there be any mud and G strings? :j

Rachman_2

Toto wrote: »

I don't understand how that works with buying goods though. If I have 5k in the bank earning 6% and I take a loan for 5k at 6% (if I'm lucky) the interest is cancelled out, the same as if I'd bought the goods from my savings. But I own the liability of that item, if a buy a kettle with loan money and it breaks, it's still mine to replace.

Toto, that's not necessarily right.

If you have £5K earning you 6%, unless it's in ISA or other tax efficient savings plan (or you are not earning anything else), then the numbers are roughly as follows (not compounded, which exaggerates it):

bank interest (gross) - £300, less 22% tax (or 40%) - £234 (£180).

bank loan, to earn £300 net to service that debt, you have to earn (ignoring NI), £384.60 or as a 40% tax payer, £508.

Massively different.

I am also intrigued as to why so many people get stiffed by customers, other people etc. Do you not do your diligence on people you are effectively giving credit terms to ? DO you not consider factoring if you are a small business. I won't take on a client unless I know they are good for the bill - if I have doubts, I ask for fees on account, if I am doing a large transaction, I insist on monthly billing - I would be slaughtered by my partners for ending up with a very large write off for a non-paying client (I do corp finance law BTW). If a client won't agree to the terms (or if I am not 110% comfortable they are good for the money), they can go somewhere that will let them pay in arrears and I will happily let that person take the risk

Migz

Toto wrote: »

Oh I agree

fight fight fight fight.... sorry got carried away there, will there be any mud and G strings? :j

:rotfl: now theres a mental image I could of done without Toto :rotfl:

Oggyoi

Toto wrote: »

Oh I agree

fight fight fight fight.... sorry got carried away there, will there be any mud and G strings? :j

I am sure both the guys won't mind if the watching women wish to sit in g-strings and are covered in mud :rotfl:

Toto

Rachman wrote: »

Toto, that's not necessarily right.

If you have £5K earning you 6%, unless it's in ISA or other tax efficient savings plan (or you are not earning anything else), then the numbers are roughly as follows (not compounded, which exaggerates it):

bank interest (gross) - £300, less 22% tax (or 40%) - £234 (£180).

bank loan, to earn £300 net to service that debt, you have to earn (ignoring NI), £384.60 or as a 40% tax payer, £508.

Massively different.

I am also intrigued as to why so many people get stiffed by customers, other people etc. Do you not do your diligence on people you are effectively giving credit terms to ? DO you not consider factoring if you are a small business. I won't take on a client unless I know they are good for the bill - if I have doubts, I ask for fees on account, if I am doing a large transaction, I insist on monthly billing - I would be slaughtered by my partners for ending up with a very large write off for a non-paying client (I do corp finance law BTW). If a client won't agree to the terms (or if I am not 110% comfortable they are good for the money), they can go somewhere that will let them pay in arrears and I will happily let that person take the risk

Sadly rackman it depends upon your industry. We have a production company, sound lighting staging for tours. We do get a proportion as a deposit however tours are always paid in full 60 days after the event, that's just how it is. If we insisted on payment up front we simply wouldn't get any work, the record company take the cost of the production from the revenue the from the ticket sales. Obviously we would love to be paid before the event but it's never going to happen and ours is an entire industry based almost soley on reputation and trust. I don't like it, but that's sadly how it is.

Graham_Devon

Richard won't play anymore, not here anyway, lol

penguin83

Just to add my tuppence worth!

Please remember that we only see a small insight into bkcy on these boards. There are many people working hard to route out the fraudsters and less genuine bankrupts back in the real world.

People do have their foreign holiday homes discovered, they are summoned to court if they don't comply with the OR and are arrested if they don't comply with the court.

I believe that 99.9% of people on here are genuine and that bkcy is a last resort. The ones who are 'playing' the system wouldn't come to this sort of forum.

We should support and guide the people here who are at the end of their tether financially and remember that the real fraudsters (I don't believe anyone here is btw!) will be found out x x

Perhaps people should spend a day at a court to witness the emotions people really go through on the day x

squirrel_pigeon

betterlatethannever wrote: »

Graham..many of us went BR as a very last resort. I would've had to go BR, even if it meant a public flogging while wearing a tutu and singing a chorus of the birdie song!
It is a good question though and goes along with the bit about divorce. Divorce became easier and more people got divorced. How many would have stuck it out in a marriage (albeit a miserable one) if divorce was harder.
You must remember for many of us (though not all) BR is the last resort.
I battled for 12 years trying to get my debts down, by which time with interest etc they were almost twice as high. The vicious cirlce had to stop, whether i stopped it or someone else did.

Re the divorce point. My Grandma stayed in a marriage full of emotional abuse until she died. My Mum was in her 40s before she found the courage to leave my Dad. I wasn't married but after 7 1/2 years of emotional and physical abuse I found the courage to leave.

BR is not an easy option and is comparable to divorce. It is a last resort when you have tried the other options. You have to consider your sanity and your health and that is something that I have realised recently. I have had my second LBM.

This board has been invaluable to me in the last week. Talking to people who actually understand has been a godsend and weirdly enough, it has made me realise I can talk frankly to my friends as well.

I'm not the only person who feels like this. If these 'abusive' threads continue, all that will happen is the board will be closed.

The majority of people on here have valid points - please don't let these be taken away.