JonMc

iTrader: (51)

I know Christmas is an expensive time of year, and yes I have splashed out big time on the kids, but how do you run up £13k of debt

http://www.bbc.co.uk/news/business-16345896

Maybe a few less pies would be a start

dpb

She looks like shes had most of them !

J4CKO

iTrader: (1)

Life is pretty tough for a lot of people, especially with all the price hikes and wage freezes, but I think partly its the fact that nowadays a lot of people think they are entitled to stuff regardless of the financial realities of their situation, stuff that used to be a luxury is now considered essential.

We spent about a grand on Christmas, that is plenty I think, could spend a lot more but to be honest we don't need anything else, the kids were stuck for what they want, I think people chase the excitement and wonder of past Christmases by spending more and more, like they wont enjoy the event if they don't spend thousands on vast amounts of food that they cant possibly eat, enough booze to kill themselves several times over and extravagant gifts and then worry about the cost in January, and then expect when the **** really hots the fan for everybody else to bail them out.

JonMc

iTrader: (51)

It may seem a bit harsh, but they ran up the debt so fvck 'em, they can pay it back. It's this sort of greed that is helping us enter a double dip, yes spend it to boost the economy, but when you can't afford to pay it back and we have to pick up the tab guess what, we can no longer afford to buy the stuff we've worked hard to get

EddScott

Think about it

If you have nothing what can be taken away from you?

More fool the credit companies for giving this type of people credit.

I know a few people who own nothing and ran up debts of about £15K then took a DRO.

If you are in that position and some idiot credit card company offers you what is in effect free money why would you say no?

jh1-2009

People get sucked in by sales ads like buy now pay next year then when the time comes they have no money so put it on a credit card, or january sales people just can,t resist even though they can,t afford it. What are they thinking. It frustrates me tbh. I don,t think people get sensible with money till their 30,s but then some never do

dpb

i would say no , but mate for instance has /had 12 credit cards - one to pay the other etc + get the best deal for swapping your debt to them ( for six months ) etc etc

He always takes the mic iv only got 2 , what the hell happens when your stranded in the middle of nowhere whilst on holiday and your cards refused , like its totally irresponsible




Think hes cutting back on the 4 foreign hols a year now , his balance probably gone over 10k or something

scoobeenut

Amen to that, so to get a DRO order you must have assets less than £300. Who the hell is offering credit to people like that?

Leslie

As you say, its worth thinking about it!

Have you heard about personal responsibility in that you can easily work out what you can afford and if you can't then you can always save up until you can. You just have to accept that if you can't afford to pay, then you have to wait! This always used to be the case anyway.

Then of course there is always that other thing called "honesty". Is it fair to take out a large debt to buy something knowing that you cannot repay the seller of the goods etc. How would you feel if that was done to you. Easy to say of course that you personally would not have lent the cash, but how are your dishonest friends managing to get someone to lend them the money? What are they saying to persuade the seller or lender to go along with what they want to do?

Do you personally think that is the right way to go through life? Don't you think that in the case of those friends of yours whom you describe, that they are effectively stealing the money?

Or would you have more personal pride than to do that?

Les

JonMc

iTrader: (51)

Here, here Les, surely taking out a debt that you know you cannot afford to repay is at least some kind of fraud - if you don't know that you benefits won't cover your debts as well as keep in a lifestyle to which you are accustomed then you really are stupid

jh1-2009

It was just on about this on the news, at the end of the day some people are too thick or can,t be bothered to pay the money back. The only time they do become bothered is when a balliff comes knocking on the door and they don,t want them to take the tv that they can,t pay for. I must admit credit company,s have made it to easy for people to overborrow, such as online applications where some people tell pork pies.
Apparently a DRO or debt relief order can be taken and this wipes the debt, stops the person getting credit for 6 years and thats the end of it. Or should i say the start of the next episode LOL

EddScott

This is one issue wit a DRO - 6 years before credit.

I think that with bankruptcy you're out within 12 months and if you can get credit the ride starts again.

As for the baliffs well it depends what you spend the money on. If its clothes, holidays and generally things that can't be picked up and walked out with, the baliffs can go whistle.

It annoys me that theses people can get away with this however the card companies should take some responsibilty for inadequate vetting procedures.

As for personal pride or the "moral compass" you're using a different set of moral rules for certain parts of the population. The same types that see housing and benefits as a right not a privilege.

jh1-2009

I would hope a DRO would stay on a persons file as a mark after the 6 years, i,ve heard some people bragg about how much they have spent, their not going to change their ways. Mind you the way the government deals with tax payers money it,s no wonder...