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

rog2

Personally, I have found there to be very little stigma attached to bankruptcy. True, there will always be those who are incapable of understanding the conditions that lead to bankruptcy, but, by and large, most people now seem to accept bankruptcy as an inevitable process in today's society.
When I went for my OR interview I was given a questionnaire, which included questions relating to 'the stigma of bankruptcy'.
My OR actually confirmed that the Insolvency Service is trying very hard to reduce the 'stigma' element of the process.

rog2

Peter_Pan wrote: »

I think youngesters need to be educated by their parents and schools about finances and budgeting, the same as they learn reading and writing - should be the norm.

Very true PP, but the Financial Industry does not want an educated public.

Peter_Pan

Migz wrote: »

As a new bankrupt myself I do find myself sitting here nodding to what you are saying, and you are right there will always be the people who abuse the system, there will always be people who think it is the new fad, and I think there will always be a stigma attatched to bankruptcy.
However, the people that are abusing this system are only going to achieve one thing, and that will be the removal of the bankruptcy system for those who do actually really need it. Yes if you can pay your debts you should, but in many cases, that may not be possible and people end up at the last resort.
I my humble opinion, and everyone has been saying how 'easy' bankruptcy is, what about how EASY it is to get credit in the first place? Yes we should all be reponsible, but even the smartest person with finances can come unstuck, shouldn't it be harder to get credit in the first place, why not have it with a system so the consumer can't get into serious trouble, yes it would be very big brotherish, but isn't that the way our country is going anyway... what you borrow should only be allowed against you income... after all thats how a mortage is done!! Maybe a little of a nieve way to look at it, but to me it makes sense.

Migz

I agree that as with any system there will be people that abuse it but after OH going bankrupt a month ago i don't see how people can say its easy, yes the process is relatively easy looking back on it but its also a very scarey and stressful thing to have to go through, its easy in that if you have spent years trying to sort out the problem actually making a decision is the hardest and yes our life now seems more ordered and we are sleeping better, being more tolerant with the children but it doesn't take away the fact OH feels really guilty and feels a failure still and it doesn;t mean we have pots of money - we are still struggling but at least the main everyday bills are being paid and we aren't at each others throats all the time.

I think the word easy gets used too easily. You are in effect losing control of your assets, your ability to obtain credit in any form which isn't taken on board without a lot os stress, heartache and tears in our case. I still think we need to educate our youngesters better in the art of budgeting and looking after finances, i wish we had been taught looking back you are released from school into the wide world, start earning and have never had so much money - who tells you that you need to save for a rainy day and that think twice before getting credit. We get offers of credit everyday through the post as does my 16 yr old son.

Migz

rog2 wrote: »

Personally, I have found there to be very little stigma attached to bankruptcy. True, there will always be those who are incapable of understanding the conditions that lead to bankruptcy, but, by and large, most people now seem to accept bankruptcy as an inevitable process in today's society.
When I went for my OR interview I was given a questionnaire, which included questions relating to 'the stigma of bankruptcy'.
My OR actually confirmed that the Insolvency Service is trying very hard to reduce the 'stigma' element of the process.

I guess I have just been unlucky in that I have come across people that frown upon bankruptcy, but in my social circle it is not the done thing, I was and still am horrified I had to do it, I don't think it should become that accepted, just maybe understood more!! But then I am still beating myself up right now, maybe I will view it differently in time!!
I have educated my son on running a very budget, and he is of an age he undertands, there was a time he had to care for me when I was very ill, so he had to go pay the bill for me and do the shopping etc, he is very aware of everything, but he is in the minority, most of his mates have this game console and that, and are off out every weekend, here there and everywhere, I'm like you PeterPan I never went far until I was out of school and working, and I agree the kids should be taught more about money and about life in general instead of being nambie pambied like they are... bring back the cane :rotfl:

Graham_Devon

rog2 wrote: »

Personally, I have found there to be very little stigma attached to bankruptcy. True, there will always be those who are incapable of understanding the conditions that lead to bankruptcy, but, by and large, most people now seem to accept bankruptcy as an inevitable process in today's society.
When I went for my OR interview I was given a questionnaire, which included questions relating to 'the stigma of bankruptcy'.
My OR actually confirmed that the Insolvency Service is trying very hard to reduce the 'stigma' element of the process.

Go to other discussion forums, there have been links to them where you abused all those people on a discussion forum (not you in particular) because the other forum (not MSE) were against bankrupcy.

I'm only against it, because of exactly what Migz has stated, it won't be an option soon if this abuse of the system continues. It's also making it more expensive for those who ARE paying their debts back, regardless of the amount.

Look at what has happened when people have come along and stated it's not something they agree with over the past couple of days. Which is why I stated 'it's no good cheering someone on here and saying 'dont listen to the trolls, idiots' and various other expletives. It's out there, it's just this forum is full of people giving internet hugs about it all and actively promoting it.

If you have personally found little stigma, then you have been very very lucky. But I have noticed if anyone does come and discuss it with you and takes the opposing view, all hell breaks lose.

There is a question that I would love to ask some of you. However, you would state I'm abusing you and upsetting you. However, how many would have gone bankrupt 5 years ago under the old scheme, when it had real harsh, and longer effects on your lives?

Or how many would have struggled and continued with the payments?

I have an answer in my mind. I'm not expecting anyone to answer me either.

It's more a 'shool of thought' question than me wanting a response.

rog2

Graham_Devon wrote: »

Go to other discussion forums, there have been links to them where you abused all those people on a discussion forum (not you in particular) because the other forum (not MSE) were against bankrupcy.

I don't post on any other forum.

betterlatethannever

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.

Graham_Devon

rog2 wrote: »

I don't post on any other forum.

Yes, exactly what I was trying to say

Your surrounded by people who are all in the same boat doing the same thing. Therefore, of course your going to get encouragement, congratulations and your not going to experience any stigma.

But post that you have gone bankrupt on a forum for small business, on a forum for people who invest, or just any forum with a very wide range of people who will have differing views, some for, some against.

You will soon find that the 'stigma' if thats what were calling it, is alive, it is there, and people do not agree.

You will find people who will abuse you, you will find people who will be willing to discuss with you. You will find people like the poster 'HeadinSand' who came here just for a little insight and then draws conclusions later on. You will find people who wholeheartidly agree with you.

But stating theres no stigma, when frankly there is, and telling everyone not to listen to it, throw abuse at them, call them trolls, idiots, etc etc, does not mean theres no 'other side'.

You state you have not experienced this 'stigma' but you also state you don't post on any other board.

Therefore, your not going to get those effects.

Hope that makes sense, if not, let me know and I will try and give a couple of examples

Graham_Devon

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.

Agree, totally. And thats what the system is for

I'm trying to state please don't abuse this system. We had a post yesterday stating 'it's the new fashion, if you havent done it, you haven't lived'.

I've seen MANY like that (but not quite so in your face) on this board, but I have never commented here.

You got to see, that does not help you, these posts from people saying 'have i now got enough debt to go bankrupt' and people saying 'yer, if you play on it a bit it will make it easier' do not help your cause in putting your point across as it being your last resort.

Broken_hearted

The system is abused every day. Its the same with the welfare state, it started off there for people who needed it but over time people see it as a right rather than a safety net. As I've said before it's pointless blaming the people, it's the law that needs changing.