[Closed] debt problem

Trail rat: I have two phones on contract, a credit card and three bank accounts and still have a year left to go.

Your mate with the problem who's gone beyond six years should check his credit file, it's common some of the creditors don't clear their accounts with the agencies. If his income isn't suitable, inconsistent electoral role records etc then he may struggle even without bein BR in the past. After 6 years their should be no mention of bankruptcy, that's legally bound by the enterprise act to help ex bankrupts get back into business.

Bankrupts were traditionally risk takers who went bust and would re-start and hopefully make a success the second time round, but the moral masses now see BR's as poor financial planners, which a lot of them are but not everyone

Will relay that to him to look into mick as its quite sad that he cant have much of a life now because of poor financial choices early in life- he does seem to have learnt from his mistakes- bangernomics for him these days !

geordiemick00- well said sir.

Geordie - I appreciate what your saying about banruptcy, Mrs FD has been there and has had to fight to get her record cleared, which has taken her much time and effort to do!

Even with a completely clear credit file though, the problem still remains that nearly all financial products say in the small print that they will not deal with passed bankrupts even post 6 years!

RichieBoy - Member
geordiemick00- well said sir.
POSTED 4 MINUTES AGO # REPORT-POST

+1

I have never been in the same situation as the OP but after I graduated I was in some debt that I wanted to pay off reasonably quickly. One thing that really helped was getting an evening job in a pub for two nights a week.

This brought in the equivalent of around £50 in todays money and also expanded my social circle - it got me out of the house and meeting people without spending anything and was good fun.

Re. other ways to save money definitely check out Freecycle. I posted two Sony CRT televisions on there (plus external freeview boxes) a few months ago with no takers.

this is a really good website [url= http://www.consumeractiongroup.co.uk/forum/forumdisplay.php?163-Debt-Action-Group ]linky[/url] ,all letter templates are here so you can deal direct, If i recall correctly only payplan, cccs and national debt line will do your debt managment plan for free(well they use your money and keep the interest for 4 weeks) all these other companies will take a chunk of your money out of your monthly payment, so its easy enough to deal direct yourself, only deal in writing as they do spin all sorts of lies and crap over the phone and i speak from personal experience in the past, the powers they have on enforcement regarding unsecured loans are pathetic, they will try and use every tactic in the world to frighten you into paying, sit down,work out a budget from one of the templates and realistically offer what you can afford and remember as much as you may hate them for all the charges they apply you still spent THEIR money...and the best thing I ever did was to get rid of all credit cards overdrafts etc,that way you learn to budget properly and not rely on credit..good luck

i work in collections, in fact im ther right now, serously people like you make me lol... YOU CANT AFFORD THE STUFF YOU BUY, STOP BUYING STUFF!!!

That's harsh. Very harsh. And also rather insensitive

But it's true, weather the OP or anyone else wants to hear it or not

I've been in the OPs position, but far worse. It was my own fault. Nobody spent the money for me. I'm now out of it, and I'll never, ever do it again.

Basically, if you can't see that spending £300 on a TV is stupid when you have debt like that, then you deserve all you get. Wake up and smell the coffee.

I understand the problem, having been there myself, but I have no sympathy, sorry.

you may hate them for all the charges they apply you still spent THEIR money..

finally some one that gets it!!!

ive seen people go in to iva's over shit they brought in the Apple shop.

geordiemick00 - Member
Honestly, I despair at some of the condascending, antagonistic and down right disrespectful replies to someone's genuine request for help. I can only presume the TJ type keyboard warrior types on here have never found themselves in a position where they may have fallen on harder times to feel morally fit to disperse such plumb mouthed, silver spoon enhanced shit that I've seen on this thread.

It appears if you're not either a graduate trained Etonian then you should live like a hermit and not spend any of your daily pittance earned on living, because living has what's got you in this mess. There never seems to be any compassion or sympathy for people in debt, the OP lost his job, the fact that he probably paid his bills/debts adequately whilst employed is irrelevant but sadly debts and the cost of living doesn't cease when employment stops.

I had my own business and was doing well, I had a shed load of debt but the promise of more profitable work seen me borrow £50k from the bank in 2006 which I invested to grow my business and within three months of investing it the same bank took it back illegally. I was made bankrupt for £130k and the official receiver pursued the bank and got the money back only three months ago, but I can honestly say none of my customers (some of them I owed over £10k) looked down on me, belittled me or treat me in the way some of the people have in this thread.

I do wonder if people like TJ and others would treat people on here the same way if they were stood next to them in a pub after a ride, presuming the attendees had all been financially vetted for suitability to buy a pint by the Tory Social Acceptance Committe that is TJ and co...

POSTED 1 HOUR AGO # REPORT-POST

Tbh that is balls, you get yourself in the shit you should get yourself back out of it.

I've made the mistakes myself with debt(jebus who hasn't), maybe not to the same extent as some others on this thread, but enough to make me have to sacrifice quite alot just to get by for a good few years, till I earned more/paid off a load.

Plus I have vivid memories as a child heading round to the post office to pay off debts my da racked up over the years and saddled the family with, so I'm no stranger living on little and the hassles that causes a family, shit happens...

All this talk of bankruptcy is nonsense, if you spend it, pay off the debt ffs. All people are doing is asking has the OP really cut out all the luxuries, and in fairness the OP has indicated that they are willing to pay off the debt.

And trust me I'm far and a silver spooned tory.

Debt is a cruel master. Jumpupanddown is mainly right, and he's what you get at your door when the master cracks the whip.

If there's one thing I have learned in life, don't use debt for non-productive purposes. That means just about any consumer goods, even if you're feeling flush. Things change quickly.

Debt for a house is ok so long as it's not too high - you'd be paying rent anyway.

When you take on debt you are willingly placing yourself into an environment full of parasites and predators. You're also spending your tomorrows.

Jools182, it's like an amputation, sooner done quickly than a little at a time. Hope it all works out ok for you.

http://www.cccs.co.uk/
Try the above.

geordiemick00

I merely asked if the telly at £300 was reasonable and if the car really was essential.

I had no intent to belittle or judge. I was actually trying to be helpful. FWIW I have been destitue homeless and hungry - albeit only temporarily

FWIW I have been destitue homeless and hungry - albeit only temporarily

Are you housed and well fed now?

As Meat Loaf said.. "two out of three ain't bad" 😀

Basically, if you can't see that spending £300 on a TV is stupid when you have debt like that, then you deserve all you get. Wake up and smell the coffee.

I understand the problem, having been there myself, but I have no sympathy, sorry.

why be sorry?
the op has my sympathy for being off work through illness but for buying a new TV while thousands of pounds in debt?

+1 for the post by geordiemick00

Pretty much exactly 3 years ago I was made redundant and I was already scraping by thanks to a recent house move and various debt from my final year of uni that I'd never cleared so I can sympathise with the OP - it can happen to anyone regardless of upbringing, education etc. Have none of the harsh critics on here seen the stories of once-successful businessmen going from millionaire to poverty and bankruptcy?

As others have said, you need an exact expenditure/income report, every penny. Any benefits you're entitled to, claim them. Not saying to do anything fraudulent but the benefits system is there to help although for me it was a pretty soul destroying experience, it really was a bad time. On the other hand I had my rent and council tax paid for 3 months and without that I wouldn't have coped. Friends helped too and I sort of half moved in with my then-gf so that saved on food/heating etc. I did some freelance work (writing and photography) which brought in a few extra quid.

Talk to your creditors. Barclaycard were great - froze all the interest, stopped the account and just said to get in touch when I was OK to start paying it back. Barclays Bank themselves were a lot less helpful though. 🙁

I got out of it by strict rationing of what I did, help from parents/friends and the well timed death* of my grandfather. No driving off to go biking, I'd do it locally. As little going out as possible. Cut all magazine subscriptions, swap to the lowest mobile contract you can. It all helps but it will take time. Buying a new TV for £300 😯 seems to say that you haven't yet realised what you need to do.

*sorry, that sounds very harsh but he was in a care home, had dementia and a very low standard of life, it brought tears to my eyes every time I saw him in that state and it was really hard on my Mum as well - his death freed up his estate and helped me, my sister and my Mum.

Main thing is to face it head on, it's not going to go away so deal with it rather than burying your head in the sand. Good luck.

I don't get how its unreasonable to ask if the OP needs a car.

He's asked for advice on debt and said what he wants to spend money on.

I know plenty of people that "need" a car for a sub 8 mile commute. Its more than reasonable to ask what its for as here on a cycling forum as he could pick up a £100 hack bike put the rest of the money towards repayments every week.

The comment about would you say the same if he was stood next to you in the pub after a ride. Yes every time I would say the same.

I don't get how its unreasonable to ask if the OP needs a car.

It's totally unreasonable imo to ask if he needs a car after he has stated that he does need a car. He might need a car for all manner of reasons, eg, to get to work/carry his tools, pick up his kids, do a weekly shop at a cheap supermarket, to drive to the nearest off-road trails, he might live miles from the nearest train station or bus route, whatever. At the end of the day you don't know his circumstances at all and he hasn't asked people to sit in judgement - just what are his legal options. Which is a perfectly fair question imo.

As far as his 300 quid telly is concerned, that's probably more than I spend on a telly, and I can afford to, but that's my choice. He has decided that for him it's a worthwhile investment, and if he rarely goes out and watches telly/DVDs instead, or has friends round, or he has kids who need entertaining, whatever, then it is very likely to be a worthwhile investment.

Furthermore it's a one-off cost, he's not going be buying a new telly every month. So if he had bought a telly for a 100 quid instead of 300 then the 200 quid saved would have made no significant difference to his situation, he owes somewhere in the region of £10k. Apart that is of course, he might enjoy staying in a little less. He needs a way out of the mess he's in - suggesting a one off saving of £200 isn't providing him with any solutions.

.

jumpupanddown - Member

i have no over draft no cards, nothing and i never will.

I'm surprised you take that attitude jumpupanddown. After all, you are convinced that the human race only has 50 years left "tops".

jumpupanddown - Member

i couldn't give a shit mate, none of youre discoverer matter, the human race has 50 years left tops.

Posted 3 days ago

Surely everyone should live for today and to hell with tomorrow. In 50 years time there will be no human beings left on earth.

So if he had bought a telly for a 100 quid instead of 300 then the 200 quid saved would have made no significant difference to his situation, he owes somewhere in the region of £10k.

that saving alone would be 2% of the total. 😕

Good point. Don't buy another 48 300 quid TVs and you'll be just fine jools.

the point, that is fair in the circumstances, is that the only way to clear the debt is to be more realistic about essential expenditure.

OP: you were bold to post this, and I admire you for it. Good luck clearing your debt.

Others: It is absolutely an totally unreasonable to respond judgementally when all someone has asked is for some helpful advice. Especially from those who have never had first-hand experience.

jumpupanddown - Member
you may hate them for all the charges they apply you still spent THEIR money..
finally some one that gets it!!!
ive seen people go in to iva's over shit they brought in the Apple shop.
POSTED 5 HOURS AGO # REPORT-POST

So it's alright for the banks to **** up and get away with it, and still get rewarded with bonuses!!
And your job is to go hounding genuine descent folk, struggling, with no work, kids to feed.
I hate your kind with a passion!!! Your just another middle class stuck up ****er that's never had any money problems cos your lifes been so ****in perfect!!! Tosser!!

Tough one. I feel sorry for the OP as I had a bit of a debt mountain when my business partner fekd off, went bankrupt and left me to pay off £40k of joint debt. I know what the stress and strains are and I know what its like to get a car repo'd. I'm lucky in that I can earn a lot of money quickly so that's what I did. Nose to the grindstone for 2 years, no social life to speak of, no holidays etc etc and that's how I paid off the debt. Bankruptcy and DRO's are a kop out tbh. Whether it affects your ability to obtain credit in future is one thing. The fact is its wrong. You should always pay your debts. The principal debt that is - charges and interest is different. You should always try to avoid that.

But good luck to the OP. Hope he gets it sorted.

geordiemick00 - Member

Honestly, I despair at some of the condascending, antagonistic and down right disrespectful replies to someone's genuine request for help. I can only presume the TJ type keyboard warrior types on here have never found themselves in a position where they may have fallen on harder times to feel morally fit to disperse such plumb mouthed, silver spoon enhanced shit that I've seen on this thread.

I used to be considerably more in debt than jools is. Among the things that enabled me to stop being in debt was not spending £300 on any TVs.

So I totally sympathise but talking about how you want to cut down the amount of your debt that you're repaying, while buying expensive luxuries, [i]is[/i] going to rile people.

Bit of an over-reaction to one £300 spend by the OP though. But then it is SingleHairshirtWorld (on this thread).

If any of the creditors are banks, then **** 'em - whatever you can get away with not paying them - I'm sure they'll get over it somehow.

Good point. Don't buy another 48 300 quid TVs and you'll be just fine jools.

you forgot the £100 saving of not needing a TV license if you go without a TV.

you forgot the £100 saving of not needing a TV license if you go without a TV.

To be honest, I thought the OP was quite conservative only spending £300 on a tv.

So it's alright for the banks to * up and get away with it, and still get rewarded with bonuses!!
And your job is to go hounding genuine descent folk, struggling, with no work, kids to feed.
I hate your kind with a passion!!! Your just another middle class stuck up * that's never had any money problems cos your lifes been so **** perfect!!! Tosser!!

if you didnt borrow money you couldn't afford i wouldn't be contacting you would i, grow up and take responsibility for you're own actions. A huge amount of people seem to think owning the latest apple product is a right!!

A huge amount of people seem to think owning the latest apple product is a right!!

Do banks not lend and borrow money they cannot afford occassionally?

Do multi-national companies not borrow money they cannot afford?

Do city traders not gamble with money that they neither own, nor is theirs to gamble with?

Do you have a mortgage jumpy?

Give over, life goes on, the world still turns, some people make errors of judgement, stop being so flipping holier than thou!

JUMP UP JUMP UP AND GET DOWN.

Give over, life goes on, the world still turns, some people make errors of judgement, stop being so flipping holier than thou!

yes people do make errors, their errors and when you're a big boy you take responsibility for them.
I can see what you spent you're money remember that, when you're telling me who hard you're life is, and how you cant afford a 65 quid loan payment. Remember i can see that you blew 100 quid in Marks and Spencer... and withdrew 70 in cash at 2 in the morning last Friday.

Do you have a mortgage jumpy?

no!!

To put it in context, I've not had a holiday in 2 years, the last time I did go away was with my mum who paid for my flight and has a small apartment in France

I never go out drinking these days due to my financial situation. My last tv was given to me by my brother but it died. My tv is the only thing of any value I have bought in 3 years. I have a mobile phone I won in a competition. My car cost 1500, a grand of which was donated by my mum. The other 500 was from a breakers as scrap value for my last car which fell apart around me.

My furniture is all second hand and donated. I almost never buy clothes.

Thanks to all those giving helpful advice. It really is appreciated.

To put it in context, I've not had a holiday in 2 years, the last time I did go away was with my mum who paid for my flight and has a small apartment in France

I never go out drinking these days due to my financial situation. My last tv was given to me by my brother but it died. My tv is the only thing of any value I have bought in 3 years. I have a mobile phone I won in a competition. My car cost 1500, a grand of which was donated by my mum. The other 500 was from a breakers as scrap value for my last car which fell apart around me.

My furniture is all second hand and donated. I almost never buy clothes.

Thanks to all those giving helpful advice. It really is appreciated.

Then what are you spending you're money on? you out goings must be higher than you're income!

TheArtistFormerlyKnownAsSTR - Member

Do banks not lend and borrow money they cannot afford occassionally?

Do multi-national companies not borrow money they cannot afford?

Do city traders not gamble with money that they neither own, nor is theirs to gamble with?

Do you have a mortgage jumpy?

Give over, life goes on, the world still turns, some people make errors of judgement, stop being so flipping holier than thou!

yes people do make errors, their errors and when you're a big boy you take responsibility for them.
I can see what you spent you're money remember that, when you're telling me who hard you're life is, and how you cant afford a 65 quid loan payment. Remember i can see that you blew 100 quid in Marks and Spencer... and withdrew 70 in cash at 2 in the morning last Friday.

You really are a snidey little creep, aren't you?

jumpupanddown - Member

Do you have a mortgage jumpy?

no!!

Paid it off, or wasting your money on renting then - oh, please tell me you live with mummy!

I don't want to be the one to wee on your bonfire, but don't you think that rather than life going on during this global credit crisis, those are precisely the reasons why we're up shit creek without a paddle?

Yeah, fair comment don, but just trying to point out that it's not just the unfortunate man in the street (that jumpy manages to bully) that isn't always in control of their finances.

you out goings must be higher than you're income!

Well done. You obviously have a razor-sharp mind. Indispensable no doubt, in your job as a debt collector.

You really are a snidey little creep, aren't you?

well its our money dont you think we keep a check on what you waste it on, were legally obliged to any way.

Well done. You obviously have a razor-sharp mind. Indispensable no doubt, in your job as a debt collector.

this seems to be the problem, why should you live a life style you cant afford.

Does debt collection pay well jumpy and do you require a decent education to access such a delightful profession?

Oh, and do you still live with your mummy? You didn't answer.

@ jumpupanddown I ran the debt up when I was unemployed 😕

that jumpy manages to bully

so what should the banks do the,

hi ive lost my job....

that's ok, just forget about the 30 grand you owe us....

i dont think the banks would last long do you? Also much of that money is peoples savings...

also i dont bully the nicer you are the more money you collect, being very nice gets you more payments.

i thought most of it was the tax payers money now

so what should the banks do the,

that's ok, just forget about the 30 grand you owe us....yeah they probably did say that Because "we will write it off as a loss and sell the debt for pittance to a debt collection agency"

i dont think the banks would last long do you? Also much of that money is peoples savings...Oh could someone also get the taxpayer to bail us out

jools182 - Member
@ jumpupanddown I ran the debt up when I was unemployed

from what you have said, you ran the debt up whilst employed & then it spiraled when your became unemployed.

What a feeling
When you're dancing on the ceiling

@ jumpupanddown I ran the debt up when I was unemployed

did you claim all you're benefits, what did you spend the money on? did you have payment protection for you're debits?

Oh could someone also get the taxpayer to bail us out

you do realise the whole crisis started because people were not paying there mortgages and debits don't you!!!

from what you have said, you ran the debt up whilst employed & then it spiraled when your became unemployed.

That's not what he says in his OP :

I was out of work for almost 2 years and during that time ran up and overdraft and a credit card bill with natwest.

I had an average overdraft facility and I had some money owing on credit cards. I know its not very clever but I wasn't planning to lose my job. I'm sure it wasn't unusual at the time for people to have overdrafts and owe a little on a credit card (it was just the one credit card, typo in the op)

I was out of work for almost 2 years and during that time ran up and overdraft and a credit card bill with natwest.

it took two years to get as job???

you do realise the whole crisis started because people were not paying there mortgages and debits don't you!!!

No, the creditors forgot their responsibility for a duty of care to check capability to repay when frivalously lending money with pound signs in their eyes. You can't just blame the people who borrowed.

Payment Protection.

The kind of stuff mis-sold by your colleagues?

Does debt collection pay well jumpy and do you require a decent education to access such a delightful profession?

Oh, and do you still live with your mummy? You didn't answer.

i have a degree, and i live at least 300 miles away from my mumy.. i bet you're pissed coz you owe the bank a shit load of cash and have some how managed to convince you're self you shouldn't have to pay it back as the bank are such nasty people!

it took two years to get as job???

Yes you ****ing idiot. Why don't you read his post since you are so keen to comment

No, the creditors forgot their responsibility for a duty of care to check capability to repay when frivalously lending money with pound signs in their eyes. You can't just blame the people who borrowed.

i totally agree, i mean we shouldn't let the working classes borrow money should we, and people should not be held responsible for there own actions, its our fault there morons!

you do realise the whole crisis started because people were not paying there mortgages and debits don't you!!!

As we have seen the banks are more than capable of shafting themselves in their arses ad infinitum without the help of the average man/woman on the street.

It therefore seems somewhat hypocritical for the employees of banks and their partners to be critical of how others manage their own financial affairs. Pot Kettle Black.

jumpupanddown you really should not be so quick to judge. Have you not figured it out that it is down to the likes of Jools and all us other tax payers which mean you still have a job.

What better business to be in than one where you are rewarded for such gross incompetence and failure.

Yes you **** idiot. Why don't you read his post since you are so keen to comment

you mean it took two years to find a job he considered him self worthy of. Lots of jobs out there if youre willing to do whats available, min wage is better than the dull.

jumpupanddown you really should not be so quick to judge. Have you not figured it out that it is down to the likes of Jools and all us other tax payers which mean you still have a job.

my bank didnt borrow any money from the goverment.

jumpupanddown - Member
Oh could someone also get the taxpayer to bail us out
you do realise the whole crisis started because people were not paying there mortgages and debits don't you!!!
POSTED 37 SECONDS AGO # REPORT-POST

- The banks got greedy!! I bet you don't have many friends do you? Or if you do, I bet you don't act like the complete cock you are on here! Please will you do me a favour and go and hang yourself? Cheers 😆

[i]jumpupanddown - Member[/i]

[b]Does debt collection pay well jumpy and do you require a decent education to access such a delightful profession?

Oh, and do you still live with your mummy? You didn't answer.[/b]

i have a degree, and i live at least 300 miles away from my mumy.. i bet you're pissed coz you owe the bank a shit load of cash and have some how managed to convince you're self you shouldn't have to pay it back as the bank are such nasty people!

I see the degree didn't help your punctuation and grammatical skilz. Maybe you don't need them in your job?

I'm not pissed about anything pal, well maybe with the exception of your attitude. I always pay my debts, however various lending facilities have still chosen to give me a shit load of cash that they have no reassurances I could repay if I fell on hard times.

jumpupanddown - Member

you mean it took two years to find a job he considered him self worthy of

[i]Nice...[/i]

jools182 - Member

I lost my job a few years ago. During my time off I had some health problems with stress and anxiety.

you mean it took two years to find a job he considered him self worthy of.

No. I mean if you are going to repeatedly comment on a thread, such as you have on this one, then why can't you be bothered to read the original post ?

Are you that lazy and incompetent in your job ?

you do realise the whole crisis started because people were not paying there mortgages and debits don't you!!!

Yeah they were in the prime position to gamble with literally millions....

various lending facilities have still chosen to give me a shit load of cash that they have no reassurances I could repay if I fell on hard times.

pleas understand the bank is a business, its not there to be nice to you its there to make money for its share holders, get over it!! Yes it pays well!

Am I right in thinking the charmer that was ilovemygears and jumpupanddown are one and the same?

Could be Brycey. The spelling is a bit of a clue, ain't it ?

no doubt ill be in touch with some of you soon.

jumpupanddown - Member

no doubt ill be in touch with some of you soon.

Can't wait

Am I right in thinking the charmer that was ilovemygears and jumpupanddown are one and the same?

Oh get you Columbo. 🙂

Liking your work though Brycey.

I live in Manchester so at least you're nowhere near me...

pleas understand the bank is a business, its not there to be nice to you its there to make money for its share holders, get over it!! Yes it pays well!

Doea this mean that all those lovely adverts where the banks are offering to help me and make my life more beautiful are, infact, bull crap?

yes utter shit!

Obnoxious - tick
Offensive - tick
Terrible spelling and grammar/dyslexic - tick
Four word continuous name - tick
Lives in Manchester - tick

CSI Brycey signing out.

False advertising? Tsk!

Don Simon; I've heard with some banks when you go in the staff all gather together and sing and/or DJ for radio stations.