Severe Debt - HELP
Scooby Regular
Joined: Jul 2002
Posts: 9,173
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From: Under your bonnet
Sounds like the story of my life.
Eat, sleep, work, get paid, log on to net banking and pay all the credit card bills.
What's left...
Enough for a hotdog and a cinema ticket on a Sunday.
Andy
Eat, sleep, work, get paid, log on to net banking and pay all the credit card bills.
What's left...
Enough for a hotdog and a cinema ticket on a Sunday.
Andy
Scooby Regular
Joined: Sep 2004
Posts: 57
Likes: 0
well said, i guess im lucky if thats the word as i realised early on that my salary at that time was finding it difficult to cover what id spent. I wouldnt have a clue wot to do had it hit 60 k plus.
In the end i dumped the debt management companies and bought a cab and started to deal with the credit card companies direct. I am earning nearly double than what i did when i got in this mess, only down side is driving a diesal as opposed to a scooby lolol.
But on a serious note, most finance providers prefer NOT to take u to court so in the end if u can find the money and are true to yourself u will succeed, and feel like youve just come out of a 3-4 year prison term, u get all your freedom back.
In the end i dumped the debt management companies and bought a cab and started to deal with the credit card companies direct. I am earning nearly double than what i did when i got in this mess, only down side is driving a diesal as opposed to a scooby lolol.
But on a serious note, most finance providers prefer NOT to take u to court so in the end if u can find the money and are true to yourself u will succeed, and feel like youve just come out of a 3-4 year prison term, u get all your freedom back.
Scooby Regular
Joined: May 2001
Posts: 1,981
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From: Newcastle
Lesson is, if you run up a big debt plan it so that all assets are in your partners or other peoples names and are untouchable by creditors.
Do what the professionals such as lawyers do and plan your bankruptcies properly.
Quite seriously with the morals shown by the banks recently who give s toss about them. They know full well when they relax lending criteria and allow easy credit that their bad debts will increase - but the amount of people who go bankrupt are much smaller than the amount whose lives will essentially become owned by the banks.
Do what the professionals such as lawyers do and plan your bankruptcies properly.
Quite seriously with the morals shown by the banks recently who give s toss about them. They know full well when they relax lending criteria and allow easy credit that their bad debts will increase - but the amount of people who go bankrupt are much smaller than the amount whose lives will essentially become owned by the banks.
If there is intent to defraud creditors the time scale is unlimited, but it would have to be nailed on for them to do that.
Scooby Regular
Joined: Jan 2002
Posts: 1,939
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Sell the scoob and buy a £1000 shopping trolley car
Cancel the Sky and get a freeview box
Forget holidays
Cancel the gym and go for a run
Raid the loft for items to sell on eBay
Get a PAYG mobile and keep about a fivers credit on it
Rather than going out on the lash get some cans in
And the biggest thing is rather than thinking "do I need it?" before buying you should be thinking "can I do without it?"
I’ve managed to clear nearly £12k in credit card debts and put £6k in savings away in a little over a year.
Scooby Regular
Joined: Aug 2004
Posts: 4,631
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Not advocating fraud or disposal of assets at all, just make sure everything is done in your partners name. Bit of a risk if you get divorced but if I was the dircetor of a business I would make sure the lifestyle I live would be protected.
Scooby Regular
Joined: Jul 2005
Posts: 9,914
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From: N.Y.S.O.C. - NORTH YORKSHIRE SUBARU OWNERS CLUB
I'll be honest ... I havnt read ALL the posts... but speak to CCCS .... they are the experts ...
CCCS is a charity, so you won't pay a penny for any of our services - whether you need immediate debt advice tailored to your situation or more general budgeting advice.
Whatever money worries you're going through right now, chances are we can help - just as we have done for all kinds of people before you. Take a look around and see what we can do for you.
CCCS -
CCCS is a charity, so you won't pay a penny for any of our services - whether you need immediate debt advice tailored to your situation or more general budgeting advice.
Whatever money worries you're going through right now, chances are we can help - just as we have done for all kinds of people before you. Take a look around and see what we can do for you.
CCCS -
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