Massive CC debt / Cunning plan / Prison?

neas

Where does the 50k go when you only pay 40-60% of it?

or am i missing something here?

Does the money just go Pooof?

Or just like when people go bankrupt the money is written down.. and the banks put rates, charges up to stay operational/profitable?

Same way people commit insurance fraud... which raises insurance premium. The many pay for the few getting a meal ticket :P.

I know its hindsight but... how the hell you borrow 50k? Get 30% credit cards? Oo

dhassen

I don't wanna have a go but it annoys me when people decide they don't want to pay back money they owe, and try and scam their way out of things.

My advice is: you borrowed the money. Pay it back

Nightwish_2

dhassen wrote: »

I don't wanna have a go but it annoys me when people decide they don't want to pay back money they owe, and try and scam their way out of things.

My advice is: you borrowed the money. Pay it back

I don't wanna have a go "but"....... Classic!
I take it you are ok with these companies playing by their own rules then - applying unlawful charges, using scare tactics, harrassing people by phone and letter, as long as we all role over and be good children, then can do what they like yeah??
I don't think so....

Nightwish_2

jimbobc wrote: »

I think your in a similar situation to me, lots of debt and nothing much to show for it. Mine is partly the result of a business failure, but also living the high life "Champagne taste, Lemonade pockets" as my sister calls it, but such is life.

It's easy for people to take the moral high ground and say you should pay it off, people get into debt and have done for hundreds of years. Ultimately your relationship with your partner is more important, than the one with your Bank Manager.

All I would say is that if you spend all the redundency money paying off the debt, and your credit history file is still ruined, it seems a bit of a waste.

I would definately speak to the CCCS or similar, they were really helpfull. They can't wave a magic wand and make everything OK, but they are good to bounce ideas off, the guy I dealt with was an absolute Gentleman.

I just received a copy of my credit repor, and was surpised that it didn't actually look too bad. Mos tof it was good, except a few late payments... I was shocked to say the least. I thouht it would have looked far worse.

I hope you manage to sort yourself out, and ignore the yellow bellies on this site who show no support to you.

If they can't say anything nice, they should just not say anything at all.