Repossession, Repossession, Repossession

neverdespairgirl

dhassen wrote: »

And buying race horses on credit! and winning £310 for coming 3rd.... great investment mate! I don't undsertand how banks can give people a £20k overdraft! Makes me feel normal....

Some people can and do have much higher overdrafts, it depends on the nature of their income and cashflow.

I know someone in his 50s who has an overdraft facility of over £100k, for example.

WTF?_2

emmy05 wrote: »

i thought his mortgage went up that high cos he kept taking out loans against the house.... the trouble with buying council is you get them so cheap with a discount, its got to be too tempting for ppl to take out the extra money on the houses to their real worth?

Yep - he'd pretty obviously MEWed himself into extreme debt on the back of the rising value of his property.

This wasn't covered in the programme though as they just said that he hadn't been able to afford the mortgage and had borrowed more to meet the repayments. Given that the original mortgage was something like 27k and he ended up >100k in debt I find it very hard to believe it was all just about borrowing more to meet repayments on a very small mortgage. Especially when he started moaning about losing his expensive fish pond in the back garden.....

I suppose there could have been more to it (sickness of family member or something) but the programme never mentioned it and I could see no evidence. As such I thought that they were pretty hypocritical to be throwing blame around and anyone but themselves for their predicament.

As mentioned by others, probably the biggest flaw of the show was that they picked extreme examples of people in debt. Even though the examples were extreme there are plenty of people out there with large amounts of debt that they are unlikely to be able to service or will find it increasingly difficult to service.

emmy05

yes, agreed.

well this program couldve been more informative, quite frankly i find spendaholics and 'beat the bailiffs' more helpful than this, lol x

Phirefly

I love spendaholics. Its the hidden gem of the schedules. Its so much more credible than these silly sensationalist freakshows.

BenL

Did the model women get her house repossessed?

I only saw her in shops being told by a saleswomen how good she looked in things.

She should have gone to a whole of market independant clothes shop for proper advice.

She was trying to sell you something from her shop!! of course she is going to say how good you look!

Lotus-eater

She didn't get her house repossessed, not even sure if she owned one.

I've just had a quick peek at her website, she's used the show as a publicity thang :DThe latest from her resume "Shoot for Closer magazine in connection with my ITV documentary, Repossession, Repossession, Repossession"
She's just another wannabe famous wannabe .........

When she smiled as the debt guy said, do you realise you are spending £1700 a month overspend and are you going to stop now?.......... "well I'll try" she tittered "but it will be hard" we both looked at each other and almost fell of the sofa laughing.

Guy_Montag

Lotus-eater wrote: »

She didn't get her house repossessed, not even sure if she owned one.

I've just had a quick peek at her website, she's used the show as a publicity thang :DThe latest from her resume "Shoot for Closer magazine in connection with my ITV documentary, Repossession, Repossession, Repossession"
She's just another wannabe famous wannabe .........

When she smiled as the debt guy said, do you realise you are spending £1700 a month overspend and are you going to stop now?.......... "well I'll try" she tittered "but it will be hard" we both looked at each other and almost fell of the sofa laughing.

What's the web address?

Generali

Guy_Montag wrote: »

What's the web address?

You'll go blind.

Lotus-eater

Google "Shelley Short"

Innocenti

eco123 wrote: »

The "glamour model" (& I use that term VERY loosely) had a face like a smacked ar*e, if that's what botox does to you then no thanks. The phrase minger springs to mind (like her face...it probably 'springs' into her mind too). To laugh at her own debt of £41,000 just shows her lack of intelligence.

My general view on the program was that it's simply a lack of education, people just have no idea on how to manage money & can't fathom simple finances & that a shame. I agree with the comment that it's a greedy have it now culture.

If I had a mortgage 17 years ago for 20k I would have been over the moon. The point the programme missed was HOW it occurred to the Bouncer family, had that been mentioned it would have been far better to understand the reasoning behind the eviction.

Exactly, I wanted to know how they got into such much debt. Why had their mortgage gone from £20000 to over £147000? What did they spend the money on? Why did they struggle to make the repayments? It would have been better if it was explained more and made the viewer understand how they ended up in so much debt.