Going Bankrupt

[Gaz_1989 9,539]

But what about all the people you owe money to?

 

Terry I don't profess to know your circumstances but I don't get the mentality, all this talk about rent free living, clearing off the debt with a fresh start, somebody somewhere will pick up the tab.

 

I've known many a good little business go under from someone deciding to go bankrupt on them.

Good post.

 

Not a rant at Terry, like you say, don't know his situation.

 

But too many are too willing to get in debt and just not give a f**k.

[The Seeker 3,048]

 

But what about all the people you owe money to?

Terry I don't profess to know your circumstances but I don't get the mentality, all this talk about rent free living, clearing off the debt with a fresh start, somebody somewhere will pick up the tab.

I've known many a good little business go under from someone deciding to go bankrupt on them.

 

I am referring to an individual who has maybe amassed debt over the years to banks, credit cards etc though bad luck or misfortune or just being daft. Grafting like an idiot getting no where fast and constantly paying interest off with out making a dent in any thing while things get worse and worse. But different ball game for a business to run up debt with there suppliers for example then just throw the towel in and leave every one in the lurch

No I mean busineses going pop by someone deciding to declare themselves bankrupt.

 

For example I knew a great Kitchen fitter, one man band self employed sole trader, worked his b*llocks off had a nice holiday each year with the missus, got a nice 2nd hand Mondeo, he was a proper grafter.

 

Fitted a kitchen for a guy who lived beyond his means, new iPhone everytime one came out, Sky, XBox 65" TV on the wall new 3 series BMW in garage , turns out he racked everything up on loans and credit cards, got credit cards to pay off credit cards but still kept on spending. Anyway my kitchen fitting pal did work for him at the wrong time this guy declared himself bankrupt and took my pal out for £8K. His argument was it was the banks fault for lending him the money......

 

I grew up with f**k all, we were taught not to spend what you don't have. If you want something bad enough then you will save for it. If you don't save for it then you don't need it bad enough. That's it.

 

Again no criticism aimed at anyone it's just in today's society it seems too easy for someone else to pick up the pieces.

[nothernlite 18,080]

You owe money pay your debt simple as not a dig to anyone just the way I was brought up done borrow if you can't afford to pay back or live without your reach

[BIGLURKS 874]

 

But what about all the people you owe money to?

 

Terry I don't profess to know your circumstances but I don't get the mentality, all this talk about rent free living, clearing off the debt with a fresh start, somebody somewhere will pick up the tab.

 

I've known many a good little business go under from someone deciding to go bankrupt on them.

Good post.

 

Not a rant at Terry, like you say, don't know his situation.

 

But too many are too willing to get in debt and just not give a f**k.

but you still got too remember what is debt say the house your living in right now have you still got the mortgage on it what about the car you've got is it on finance there debts as well it's like saying folk get in debt on silly things aye your right pay off your debts but what happens if your circumstances change tommorow how much of a hit would the intrests on the things you own are going too be I know it too we'll the 3 k I originally borrowed was actually paid back but the 12k I own is just acoumalated intrest

[JDHUNTING 1,817]

 

 

But what about all the people you owe money to?

 

Terry I don't profess to know your circumstances but I don't get the mentality, all this talk about rent free living, clearing off the debt with a fresh start, somebody somewhere will pick up the tab.

 

I've known many a good little business go under from someone deciding to go bankrupt on them.

Good post.

 

Not a rant at Terry, like you say, don't know his situation.

 

But too many are too willing to get in debt and just not give a f**k.

but you still got too remember what is debt say the house your living in right now have you still got the mortgage on it what about the car you've got is it on finance there debts as well it's like saying folk get in debt on silly things aye your right pay off your debts but what happens if your circumstances change tommorow how much of a hit would the intrests on the things you own are going too be I know it too we'll the 3 k I originally borrowed was actually paid back but the 12k I own is just acoumalated intrest

a 3k debt should under no circumstances be able to become a 12k debt. If I was in your shoes I would f**k them off in anyway possible with zero guilt.robbing basterds.

[Gaz_1989 9,539]

 

 

But what about all the people you owe money to?

 

Terry I don't profess to know your circumstances but I don't get the mentality, all this talk about rent free living, clearing off the debt with a fresh start, somebody somewhere will pick up the tab.

 

I've known many a good little business go under from someone deciding to go bankrupt on them.

Good post.

 

Not a rant at Terry, like you say, don't know his situation.

 

But too many are too willing to get in debt and just not give a f**k.

but you still got too remember what is debt say the house your living in right now have you still got the mortgage on it what about the car you've got is it on finance there debts as well it's like saying folk get in debt on silly things aye your right pay off your debts but what happens if your circumstances change tommorow how much of a hit would the intrests on the things you own are going too be I know it too we'll the 3 k I originally borrowed was actually paid back but the 12k I own is just acoumalated intrest

Yes I've got a mortgage. But we are talking about people being silly with money aren't we?

 

I don't think getting a small mortgage to buy a house that you can easily afford is being silly.

 

I've never had a car on finance or anything else for that matter. I'm getting married next year and have saved up to pay for it.

 

It's just this borrow borrow borrow attitude in society that needs changing.

 

This government help to buy scheme is a joke. People on average salaries being talked into buying £250,000 houses. Which they can't afford. Because the government help them. I wonder how many will ever actually own them houses?

 

Edited to add - did I read that right? You borrowed £3k and now owe £12k?

[Lusitano 294]

I've always been quite sensible with my money, apart from my mortgage and the odd large bit of furniture bought on 0% finance I've never really had any debt. I couldn't sleep if I was in debt or in serious money problems, I also worry to much about a possible rainy day and even if it's a few hundred or a few thousand I always try to have something on the side... Just incase! I don't want to work all my life, I want to pay my mortgage, have a nice holiday with the fam every year and look forward to my retirement mortgage free so I can enjoy the little things in life before I go!

[terryd 8,410]

Used to get a lot of rainy days in the forestry lol