Is “national debt expert” legit

sammyjammy

Cheesephetamine said

Uhm.... why do you not WANT to pay off your debts? I understand if you can't pay for whatever reason (ie no income), but (i might be wrong and if I am, I am sorry) for the tone of your post it seems like you don't pay because you don't want to (and kind pf feel proud of being a bad debtor??) and that it's not fair. At the end of the day no one forced you to get credit (one would hope) and you signed a contract so not paying just because it's... icky.

I feel awful when I think of the debts I still have even though I am slowly paying them off. I cannot imagine being able to sleep if I completely stopped paying them. I would go insane

Everyone feels differently about debt, perhaps later down the road when you know more about how it works you might change your mind. 

Nobody has judged you so you could try repaying the favour 

Rob5342

Cheesephetamine said:

I think my total debt was over £80k most of it on credit cards, they had a load of interest until I got advice on here to just stop paying.

It is not for everyone but in my circumstances it was right solution for me.  There was a certain sense of satisfaction as each one went off statute. One got a back door CCJ but they  never got a penny either.  Never had a visit, I have a ring door bell which caused some to do a U-Turn, I do not know who they are, it seems they are camera shy or do not want to go on YouTube!!  I would not have engaged them anyway. 

Uhm.... why do you not WANT to pay off your debts? I understand if you can't pay for whatever reason (ie no income), but (i might be wrong and if I am, I am sorry) for the tone of your post it seems like you don't pay because you don't want to (and kind pf feel proud of being a bad debtor??) and that it's not fair. At the end of the day no one forced you to get credit (one would hope) and you signed a contract so not paying just because it's... icky.

I feel awful when I think of the debts I still have even though I am slowly paying them off. I cannot imagine being able to sleep if I completely stopped paying them. I would go insane

There can be very good reasons. If you have a debt that's old and the DCA/lender can't produce the CCA then it's unenforcaable and they can't get a CCJ against you. In that case it would make sense to stop paying it and use the money to clear the debts that are unenforcable to reduce your risk of getting a CCJ. 

Cheesephetamine

Uhm ok but unless the debt has been pinned on you unfairly, as in, a debt you never actually took yourself and it's an error or a scam, you should try to pay off your debts and learn from your mistakes. Just because a debt is old doesn't mean it should not be paid back. And also yes some debts have horrendous interests but all that is explained to you before you accept the money.

And you don't "feel differently" about debt, it's just a matter of being an honest person or not and how you actually behave towards your debts. I can sympathise with people who can't genuinely pay the debts and try to find a solution and work a deal with their creditors, but people who purposefully "disappear" as that "BadDebtor" user did and has explained in many of his posts, to try to make the debt go away after 6 years just because they can't be bothered to find a solution that is agreed with the creditors is just being selfish and fraudulent. I hope he never lends money to a friend and has that friend ghost them to avoid paying back. Maybe then they would see how it feels XD So yeah I might be passing judgement but that is the type of person that give the rest of people with "honest" debt and honest issues a bad rep. Sorry not sorry

fatbelly

BadDebtor said:

Do you care about something wrecking your credit score?

Is your credit score not already wrecked?

If you do not have a mortgage or own a property, do you expect to ever?

You said "as per change of circumstances" and you talk about being debt free in 5 years

If you have no assets. no mortgage and no job or a job with hardly any disposable income then with a TOTAL DEBT APRIL in 2022: £20929.08 why not consider DRO?  Cost £90, if you have nothing you have nothing.

Or if you do not qualify then go off radar, do not service or acknowledge the debt for 6 years and it will go off statute.

I think my total debt was over £80k most of it on credit cards, they had a load of interest until I got advice on here to just stop paying.

It is not for everyone but in my circumstances it was right solution for me.  There was a certain sense of satisfaction as each one went off statute. One got a back door CCJ but they  never got a penny either.  Never had a visit, I have a ring door bell which caused some to do a U-Turn, I do not know who they are, it seems they are camera shy or do not want to go on YouTube!!  I would not have engaged them anyway. 

The way debt advice works - proper debt advice anyway - is that all possible options are presented and the potential outcomes of each option explained.

The debtor makes the choice as to which strategy is best for them.

As such BadDebtor's post is pretty good - he makes the point about credit history already being affected, and discusses the options of DRO and do nothing.

The other options of course are a debt management plan, which is fine if you have surplus income sufficient to repay debts in 60 months or less, and bankruptcy, which would only demand payment from income for 36 months.

You've already been advised about an IVA.

The aim of this board is to help people get debt-free by the best way possible. The name says it all really.

We try to avoid moral arguments as that's very subjective and unhelpful. BadDebtor says in his post that his strategy is 'not for everyone'

sourcrates

I have to agree with FB above, we could get into the whole argument of the bank never having had the money it leant you anyway, Google "fractional Reserve Banking".

They are just numbers on a spreadsheet, the money you borrowed, never existed in the first place, its a very murky world when you dig beneath the surface, certainly not an industry that wears its morals on its sleeve.

Rob5342

I have an unenenforcable debt that I'm not paying, with the money going to an enforable one instead. I'm not proud of it and would rather not be in this siutation at all, but given where I am doing it this way minmises the risk to me if I lose my job etc.

fatbelly

Rob5342 said:

I have an unenenforcable debt that I'm not paying, with the money going to an enforable one instead. I'm not proud of it and would rather not be in this siutation at all, but given where I am doing it this way minmises the risk to me if I lose my job etc.

Seems reasonable (in the sense that it is a reasoned argument) to me. If a business cannot get their paperwork together in a way that complies with the law, it cannot be enforced through the court.

Debt advice starts with prioritisation of debts and a debt like that must have a low priority.

Some people clear their higher priority debts first then offer a low sum in settlement of the lower ones. That's an option for you somewhere down the line.