Absolutely no stigma anymore with borrowing and not paying back.

Yet another attemt(IMO) to keep the credit culture fire burning and avoid a collapse.

You were happy to borrow the money..tough if you get into difficulty.You should have saved for your Plasma!!

Government's court order plan will allow people in debt to keep their creditors at bay - Times Online

 

I'm reading that as a years payment holiday rather than people 'just getting away with it'. Additionally the interest during the holiday period still accrues

Owe £20,000 when you start the 1 year payment holiday, owe £25000 when you start paying it back after the year Makes sense to me

Better just to rack up a load of debt on CC's and loans and declare yourself bankrupt surely

 

Appalling isnt .

Cause it costs money for them in jail - what with teh 5 star level of service on offer inside


And this way theres a a good chance theyll be able to rack up more debt and thus keep the gdp figures turning over .


What a TOTAL farce ..!

 

I don't know what to make of the new legislation.

If I was in debt because I had spent money I didn't have and I lost my job, I'd just go and declare bankrupt. I'm almost starting to think it's worth it, the government will let you get away with anything nowadays. Why not have a high flying lifestyle on credit whilst you can?

Edit: mmmmust read previous posts...