23K 'wiped-off' in 6 months...drastic but quick way to get rid of debt

holidayguru

donnalove wrote:

i think it was the immense relief that came out when he wrote the thread, not gloating he was relieved and probably could not belive it himself, how easy it was and is.but she will still have to live with being a 'bankrupt' for many years and probably does feel ashamed.
i have read lots of threads varius forums and to me it's the relief that it is all over, not gloats.
he is a new poster give him a chance.

Yes it was a releif for her. From doing a lot of research as well myself on the web we knew it would more than likely be 6 months. She WAS ashamed as she had to go through it all in person with the official receiver & as her English is not good it was hard for her. She is no longer bankrupt but 'discharged' so it will be on her credit file for another 6 years or so during which time she'll only be able to have a basis bank a/c. Good news is that Mortgage lenders will lend-allbeit at 2%+ on base rate, maximum 90% loan. This is good because it will teach her she has to save for things...ie the deposit! Also, Capital one do a 'secured' credit card-so if you give them, say £200 that is your credit limit. This is usefull if you are travelling, renting a car etc...so it seems that the Financial Services world have moved in to the 20th century with these products.

CTT_2

As I have said before I admire her style and in particular her cheek on going on holiday and then declarng herself bankrupt.

skintchick

Oh stop it everyone! Enough sniping!

Remember - Martin asks us to be nice to everyone

HelenR_3

CTT wrote:

As I have said before I admire her style and in particular her cheek on going on holiday and then declarng herself bankrupt.

you spend a lot of time sniping at everyone i have noticed , are you a little bitter and twisted to everyone or just on here ?


Helen

coolbreezes

holidayguru wrote:

For the final time...no gloating was intended. It has been said in earlier messages that she's learned her lesson-the whole thing made her quite ill
I did try & change the title. One thing I am happy about as i care for my other 1/2 is that it's all over & her health won't suffer. Everyone has their own choices to make re: bankruptcy, paying debts off, etc.

Come on now guys/gals....seems the thread has got a tad to personal. The information on the original post may help someone else or be of interest to others. There seems to be a very old fashioned view on Bankruptcy...it no longer has the stigma once attached to it.

In fact...a lot of professional advisors reccommend it in many cases. Have a look at http://www.debtquestions.co.uk/forum/index.php3 to see what I mean.

Ok......a question! How many of you have huge debts, but no equity/assets (by this I mean big assets-like new cars, etc...second hand cars/tv's etc do not count) or savings & have no excess income after essentials & debts paid?? You may have negotiated a debt-management-plan or an IVA but it will take you six years or more to fully clear the debts. How may of you are being made ill by constant phone calls/threats etc are on anti-depressents? If you have no kids either then why put yourself through it for 6-10 years when it will be done with in one year maximum??? The only answer to that is that you want to feel you've done the right thing', paid it all off' etc.. If you genuinely have no other way to clear your debts why not bankruptcy?? To my mind it's just a moral thing...as the PRACTICAL emotionless answer (based on the above circumstances) is that Bankruptcy is the quickest and easiest option. .

Obviously if you'd lose your house & had kids, etc, lots of equity/excess income it's not the best option as the ramifications affect the children as well.

I'm not saying all should go BR but it pays to know that it can be an option.

Just to say I lost a very close friend who had been ill with depression and in debt big time. She was so ill she never did anything about the debts, nor did she get help or tell anyone. She committed suicide. God how I wish she had gone bankrupt. Sorry but in my opinion bankruptcy should not be judged so harshly. Some people are just not strong enough to cope with debts and small debts get huge. Yes you may say their choice but none of us are perfect. I hope your G/F feels a lot better now she has gone bankrupt as I am more than convinced the worry would have made her ill.

johannamse

Why did OP girldfriend think England was so different from France? In France it is illegal to write a cheque you cannot honour and has strong punishments? When she came down the mountain and accross the channel did she think she had ended up on Mars? I can't beleive she was that naive to think it was OK to run up all the credit....


having said that we can all be idiots when young, and depression is a VERY serious illness. I hope that she is healthy now.

holidayguru

CTT wrote:

As I have said before I admire her style and in particular her cheek on going on holiday and then declarng herself bankrupt.

CTT-we were on holiday 5 1/2 months AFTER she went bankrupt....still as i said before she's made up that you like her style.....after all the holiday was free (from my job)...methinks you're jelous we had a free holiday...now if you are under 21, blonde, attractive & female I'm sure I can be persuaded to take you instead...

holidayguru

johannamse wrote:

Why did OP girldfriend think England was so different from France? In France it is illegal to write a cheque you cannot honour and has strong punishments? When she came down the mountain and accross the channel did she think she had ended up on Mars? I can't beleive she was that naive to think it was OK to run up all the credit....


having said that we can all be idiots when young, and depression is a VERY serious illness. I hope that she is healthy now.

She's fine now-yes she is daft. Chamberry in France IS MARS!

helen21_2

Welcome to the boards holidayguru

helen21

robowen

holidayguru wrote:

now if you are under 21, blonde, attractive & female I'm sure I can be persuaded to take you instead...

crikey....I'm gutted !!

That rules me out !! :doh:

rob