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A thought just occured to me while I was reading someone else's post. I got a "reminder" from Revenue to complete Self Assessment form for tax purposes. does this mean that "rental income" is like having a "small business", like the other poster mentioned.

oh dear.

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The OP in that thread has to be a troll.

Love the way she claims that they weren't stupid (to take on all that debt), just 'unlucky':

Just to clarify a point made by several posters. I know we have accumulated a lot of loans. But you see, we had the financial power to pay them back. The problem only occurred when one job was gone. We knew what we were doing because we were making decisions on the basis of the incoming income. The only thing we failed on was to have a “safety net”. We didn’t think either one of us will lose a job. Both of us had a good, reliable job and didn’t think it could happen to us!

We are not INSANE and we are not STUPID. We are optimist who love to spend money, live a good lifestyle. We were little .. or a lot naïve before. I think this economic climate has taught a lot of us the realities of life – life is not a bed of roses – it has thorns in it too!

Classic case of irresponsibly taking on massive financial commitments with no planning for adversity - then blaming 'bad luck' when it all goes wrong. The best advice they got was to move to the UK and take advantage of the lax insolvency arrangements there in order to divest themselves of their debts in as painless a manner as possible. Seems to be a popular course of action for people in other EU countries with proper bankruptcy laws that punish fecklessness.

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The OP in that thread has to be a troll.

Love the way she claims that they weren't stupid (to take on all that debt), just 'unlucky':

I suspect that the spouse's job was in property ...

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I suspect that the spouse's job was in property ...

It's Sarah Brown can't you tell? 'spouse' Gordon has only made £3k on the dinner speech circuit so far:lol:

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My head says troll, but the detail! Why would anyone go to such lengths? It's not as if the thread even produces much high emotion. But the piece de resistance has to be the declartion towards the end : "have just discovered I'm pregnant with our third child. I'm thrilled!"

Yeah, what mother wouldn't want that lot for her child?

If it is a troll, fair enough, but if true I see a grim fate for that unborn child. I'm thinking massive debt culminating in one even larger gas bill with not a warm radiator to show for it. All that talk of life insurance and "bad things" that might happen to mum or dad .... I hope she knows they don't cover that kind of eventuality ....

Edited by Sledgehead

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All that talk of life insurance and "bad things" that might happen to mum or dad .... I hope she knows they don't cover that kind of eventuality ....

Maybe she should encourage Hubby to take up canoeing?.

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The best advice they got was to move to the UK and take advantage of the lax insolvency arrangements there in order to divest themselves of their debts in as painless a manner as possible. Seems to be a popular course of action for people in other EU countries with proper bankruptcy laws that punish fecklessness.

All part of our export led recovery. Selling financial services to foreigners is what we do well.

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I think 'some' of the responses in this thread are good examples of why this site has a pretty negative image. Sure, the OP may well have made some monumental stupid decisions, but that doesn't stop this being about a family with 2 (soon to be 3) children who are drowning in debt. There's nothing to be happy about in that thread, even if we all think that this kind of behaviour was unwise.

I read through the thread, frankly I can't think of anything reassuring to tell her. The debt is massive, the income shortfall is large and without massive property value rises soon I can't see a way out that doesn't end in bankruptcy.

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I think 'some' of the responses in this thread are good examples of why this site has a pretty negative image. Sure, the OP may well have made some monumental stupid decisions, but that doesn't stop this being about a family with 2 (soon to be 3) children who are drowning in debt. There's nothing to be happy about in that thread,

You might wanna tell Emma-I'm-Thrilled-to-bring-another-child-into-this-hell-09 that before you start lecturing us.

_

Edited by Sledgehead

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I think 'some' of the responses in this thread are good examples of why this site has a pretty negative image. Sure, the OP may well have made some monumental stupid decisions, but that doesn't stop this being about a family with 2 (soon to be 3) children who are drowning in debt. There's nothing to be happy about in that thread, even if we all think that this kind of behaviour was unwise.

I read through the thread, frankly I can't think of anything reassuring to tell her. The debt is massive, the income shortfall is large and without massive property value rises soon I can't see a way out that doesn't end in bankruptcy.

..negative image...?..... :rolleyes:

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My head says troll, but the detail! Why would anyone go to such lengths? It's not as if the thread even produces much high emotion. But the piece de resistance has to be the declartion towards the end : "have just discovered I'm pregnant with our third child. I'm thrilled!"

Yep, its all written as if its normal thing. When being told your best chance is to emimrate I think I'd panic.

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I think 'some' of the responses in this thread are good examples of why this site has a pretty negative image. Sure, the OP may well have made some monumental stupid decisions, but that doesn't stop this being about a family with 2 (soon to be 3) children who are drowning in debt. There's nothing to be happy about in that thread, even if we all think that this kind of behaviour was unwise.

I bet you'd been itching to write this for a long time but you've chosen the wrong thread. All I read here so far is understandable astonishment and if anything I am surprised by the restraint of the posters.

You forget the harm these brainless people have done and still intend to do to others, beginning with their own children. They deserve all the abuse that is coming to them.

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The level of detail makes me think that it is real, which only makes it more shocking.

I am amazed at the level of debt that they have accrued, unbelievable that the lenders have been so stupid. Reading between the lines, it seems that she does want to get on top of it and has some sense of obligation towards dealing with the debt and not just running away from it.

The fact that her partner is unemployed for around 2 years, this is a disaster, the big problem with this is that debt can snowball so quickly and the slide is almost unstoppable. The effort required to slow down the increase in debt, level off and start paying it down is enormous, particularly when charges, late payment fees, fines, interest and legal fees are thrown into the mix. Her partner needs to get a job asap, once that happens they need to work out if they can realistically pay down their debt instead of just servicing it while also bearing in mind the current economic climate.

To be honest, I have some grudging respect for her to try and deal with the mess, but the reality is that unless more money is brought in, they simply wont make it. Also the bank probably dont want to repossess the houses as they are in so much negative equity, but if she cant make the payments even on IO, they probably will (perhaps other posters on this board who are more familiar with bank policies regarding this would know how this would play out).

The level of debt is truly astonishing, she has close on 1million debt and has a salary of 46k!!!!!!! most people I know who I consider have high levels of debt bring in 4 to 5 times what this person earns and have anything from 1/4 to 1/2 this debt level.

Either their income increases dramatically and soon and they will be paying off their debt forever or it will end in bankruptcy which I hate to say is the most likely outcome. Sometimes people just dont want to admit defeat until that decision is just taken away from them.

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Yep, its all written as if its normal thing. When being told your best chance is to emimrate I think I'd panic.

I was wondering whether I was the only one who thought the whole thread rather over-moderate. Hubbie seems to be as laid back about the situation as she is. Two years unemployed, living off the missus, hopeless investment and business history, massive, unsusstainable debts, unfunded household deficits: I think I can speak for the majority of men here when I say that such is not generally the staus quo conducive to baby-making, and yet, even so, we are to believe she's up the duff again ... I was waiting for somebody to suggest she goes on the game, but with wood like that, I'm thinking he's the porn star ... B)

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I think 'some' of the responses in this thread are good examples of why this site has a pretty negative image. Sure, the OP may well have made some monumental stupid decisions, but that doesn't stop this being about a family with 2 (soon to be 3) children who are drowning in debt. There's nothing to be happy about in that thread, even if we all think that this kind of behaviour was unwise.

I read through the thread, frankly I can't think of anything reassuring to tell her. The debt is massive, the income shortfall is large and without massive property value rises soon I can't see a way out that doesn't end in bankruptcy.

What I don't get is why you don't pick up on the complete lack of remorse at having so badly screwed up. We even get the odd petulant remark "I would prefer if anyone has any constructive opinion here." directed at some poor schmuck who mentions she needs business advice, forgetting that the schmuck is the one, together with his children and grandchildren, who will have to pay back the loans that THAT COW should never have taken on in the first place.

I'm sorry but sympathy would be thoroughly inadvisable in this instance IMO. One ginormous kick in the behind would be more appropriate.

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  • 261 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?


      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%



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