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Lambie

Credit Card Debtors Sleeping Like Babies

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http://www.thedailymash.co.uk/news/society/credit-card-debtors-sleeping-like-babies-201101133430/

Slightly O/T but please leave for a little while mods!

The Daily Mash is the only paper willing to print the truth..

Credit card debtors sleeping like babies

MOST people are managing a sumptuous eight hours sleep a night despite crippling credit card debt, it has emerged.

She's counting iPads jumping over smoothie makers

Researchers have exploded the myth that people with large debts lie awake worrying about bailiffs after finding that most snuggle happily under a Egyptian cotton duvet cover they will never actually pay for.

Professor Henry Brubaker, of the Institute for Studies, said: "Increasingly people are recognising that there's no heaven and even if there was, St Peter would probably tell the bailiffs to go piss up a rope.

"What are they going to do? Jump in your coffin and wait there until you set up a direct debit?

"So we basically have two choices. Stop buying stuff - it's all shit anyway. Or buy an insane amount of stuff, sign up with one of those unusual companies that somehow negotiates half of it into oblivion and then eventually die.

"The credit card people will get all upset but it serves them right for doing something so boring in the first place".

Edited by Lambie

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An element of truth in it. If you don't pay your unsecured debts and don't own any assets, what are they going to do to you?

Put you in prison?

Break your legs?

Or just send you whiny letters and phone calls which you can ignore or avoid quite easily?

I'm amazed that people struggle under the weight of thousands of pounds worth of debt. Just bin it off, it serves them right.

Edited by Kyoto

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An element of truth in it. If you don't pay your unsecured debts and don't own any assets, what are they going to do to you?

Put you in prison?

Break your legs?

Or just send you whiny letters and phone calls which you can ignore or avoid quite easily?

I'm amazed that people struggle under the weight of thousands of pounds worth of debt. Just bin it off, it serves them right.

Yeah, time was that I was firmly in the 'off with their heads' camp of dealing with debtors but when you sit down and think about it, it's the lenders problem and not the debtors (assuming the loan is unsecured).

Really, why should you run around being a slave to bits of paper or numbers on spreadsheet if cretins are prepared to credit large amounts of said monopoly money to you with no proper research into whether you are able to pay it back and no security if you can't/won't.

The bottom line is that in our model of society the people who overborrow and/or scrounge off the welfare system are the smart ones. The rest of us who share/foot the bill because of moral/ethical considerations are the fools.

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I quite agree and it's about time the Daily Mash had people on news programmes like BBC Newsnight and were on the panel of Question Time.

Edited by billybong

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The bottom line is that in our model of society the people who overborrow and/or scrounge off the welfare system are the smart ones. The rest of us who share/foot the bill because of moral/ethical considerations are the fools.

They've simply adapted faster to suit the environment in which they're living, unlike us dinosaur savers. :(

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So true.

This is my problem

Stop buying stuff - it's all shit anyway

Issue number one is i hate shopping

Issue number two is other than wanting to own a house with a bit of space, i dont want anything. Todays music sucks, todays movies suck, todays video games suck, and anything over a couple of years old of the above things is somewhere free on the internet.

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Issue number two is other than wanting to own a house with a bit of space, i dont want anything. Todays music sucks, todays movies suck, todays video games suck, and anything over a couple of years old of the above things is somewhere free on the internet.

And all the kids have silly haircuts these days.

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So true.

This is my problem

Stop buying stuff - it's all shit anyway

Issue number one is i hate shopping

Issue number two is other than wanting to own a house with a bit of space, i dont want anything. Todays music sucks, todays movies suck, todays video games suck, and anything over a couple of years old of the above things is somewhere free on the internet.

So true. I'm beggining to hate having 'stuff' and am yearning for a minimalist life.

i would add that any amazing offer isn't really an amazing offer, just a 'clever' way of fooling stupid people into thinking it is. and they absolutely lap it up!

example. Orange mobile phone 'pay as you go phone fund' for every £10 you top up, they add £1 into a 'phone fund' which allows you to ugrade further down the line.

Hmmmm, i wonder where they get this £1.00 from to put in your special little upgrade account. why of course, that's YOU, you stupid little *******. They make you pay more, then give it back to you and you're supposed to be grateful.

Same with loyalty schemes like nectar / boots cards. They add a few pence here and there on the products YOU PAY FOR ANYWAY and give it all back to you in confusing little reward systems.

As a matter of fact, it's not unlike what the government do.. tax the buggery out you, then give it back in winter fuel allowances and tax credits

JUST MAKE EVERYTHING AS CHEAP AS POSSIBLE AND STOP ******ING AROUND WITH WHAT SHOULD BE A SIMPLE TRANSACTION YOU *****.

This isn't capitalism, its crapitalism.

aaaand relax.

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JUST MAKE EVERYTHING AS CHEAP AS POSSIBLE AND STOP ******ING AROUND WITH WHAT SHOULD BE A SIMPLE TRANSACTION YOU *****.

Amen :)

Hmmm, that quote would make a great sig ;)

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An element of truth in it. If you don't pay your unsecured debts and don't own any assets, what are they going to do to you?

Put you in prison?

Break your legs?

Or just send you whiny letters and phone calls which you can ignore or avoid quite easily?

I'm amazed that people struggle under the weight of thousands of pounds worth of debt. Just bin it off, it serves them right.

This is quite true...a former collegue at work and whose dad is friends with my dad got about 50k over his head in debt many years back. It was in the form of:

Secured Car Loan

8 Credit Cards

4 Student Overdrafts

Overpayment of the old LEA grant (he took the money for a year but had quit Uni)

2 Unsecured Loans to consolidate debt (did he f*ck)

Student Loans

10k CSA debt

Salary: 14k a year (when he finally got a job).

In the end he told them all to feck off but left his parents with 6 years (and still it continues) of misery! At some point like 15 different debt collectors were after him plus Private Investigators too.

Just about once a week people phoned his parents and made threats...even though they had changed their number loads of times! He knows that what they said was ******** but his parents didn't take it in their stride like he did! They near enough begged him to go bankrupt to get the "normal lenders" off his back but he refused????

The secured car loan business was an embarrasment to him though! The baliffs tailed him and his tarts to a popular pub and then went in and showed him up by presenting the repo order to him in front of his tarts and mates. He said to them "can we do this outside?" and they replied "no sir we'll do it in here. Please hand over the keys to the vehicle"! Of course all his tarts dropped him because they didn't have their free "ride" home...wot a tw*t.

And then of course the unsecured debt. The debt collectors hassled him, his parents, his friends, family and the next door neighbours too...that went on for years! Any fecker that the debt collectors thought were linked to him were hassled to give the details of his whereabouts.

then the CSA...feck...they went to town on him! Catching him out by phoning up his folks house and pretending to be his mate "Dave" or just a "mate". So of course he'd take the call off his folks and then bam "Hi Mr Tw*t, it's the CSA...we're putting the court summons in the post to you...bye bye"

In the end he left the country...that was 12 years ago. His parents don't want him anywhere near the house, he has no mates here and his kids wish him dead! He tried phoning up family members but they told him to feck orf too!

So yeah...you can walk away from any debt! But be prepared to lose a lot in the process as they are some things that you cannot put a value on!

Edited by Chest Rockwell

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So yeah...you can walk away from any debt! But be prepared to lose a lot in the process as they are some things that you cannot put a value on!

It's not that bad for most people. A few letters and then you move house and they lose track of you.

Different if you have lots of ties, but if not then it's a very thin tie maintained in the head of the debt slave.

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It's not that bad for most people. A few letters and then you move house and they lose track of you.

Different if you have lots of ties, but if not then it's a very thin tie maintained in the head of the debt slave.

Yep agree, however, i remember a former band mate telling me about how he lost his home in the late 80s through unsecured borrowing and IR going up on his mortgage. Eventually he defaulted on the lot, lost the house and him the missus and the kids moved to his parents house.

10 years later he was able to get a mortgage again and move from renting blah blah blah. He then told me that he got a phone call out of the blue from a debt collection agency. They told him that he still owed 10k from an unsecured loan that he'd defaulted on back in the late 80s. BUT the guy on the phone "offered me a deal" and said "make us an offer". So he offered 2k, guy told him "try a bit more...like double" so the guy I knew offered 4k and the debt collector accepted that. After loads of paper work "the debt was finally paid off".

A few years later I realised that debts over a certain time frame (6 years?) are statute barred. I then thought back to the above tale and realised that this guy could have told the debt collector to feck off! But he didn't...he paid up?

Now I know that most on HPC are pretty savvy on this, but I don't think the sheeple are...I think most think "ach...I'll go bankrupt and that'll be it" without realising that some p1ssy little debt collector will buy the debt at 1/50th of it's worth and then "try their luck" to get something! How many folk have fallen for that one I wonder?

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Yep agree, however, i remember a former band mate telling me about how he lost his home in the late 80s through unsecured borrowing and IR going up on his mortgage. Eventually he defaulted on the lot, lost the house and him the missus and the kids moved to his parents house.

10 years later he was able to get a mortgage again and move from renting blah blah blah. He then told me that he got a phone call out of the blue from a debt collection agency. They told him that he still owed 10k from an unsecured loan that he'd defaulted on back in the late 80s. BUT the guy on the phone "offered me a deal" and said "make us an offer". So he offered 2k, guy told him "try a bit more...like double" so the guy I knew offered 4k and the debt collector accepted that. After loads of paper work "the debt was finally paid off".

A few years later I realised that debts over a certain time frame (6 years?) are statute barred. I then thought back to the above tale and realised that this guy could have told the debt collector to feck off! But he didn't...he paid up?

Now I know that most on HPC are pretty savvy on this, but I don't think the sheeple are...I think most think "ach...I'll go bankrupt and that'll be it" without realising that some p1ssy little debt collector will buy the debt at 1/50th of it's worth and then "try their luck" to get something! How many folk have fallen for that one I wonder?

Insolvency is a formal thing in the public domain. Sometimes you'll wind up a defunct ltd trading company (not through going bust but just a tidying up exercise because it's no longer trading).

You may then get some overlooked, or trying it on creditors like power co's with standing charges, pop out of the woodwork years later. It's enough to tell them it's in administration and they can verify this as a matter of public record and they are not supposed to make contact with anyone other than the administrator/receiver about the debt again.

Debt collectors can, I suppose, make enquiries about finding missing debtors but once insolvency was a matter of public record. I'd have thought they'd have to pack it in.

I would guess it's similar with IVAs and personal bankruptcy excluding student loans/court fines or anything else exempt.

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Now I know that most on HPC are pretty savvy on this, but I don't think the sheeple are...I think most think "ach...I'll go bankrupt and that'll be it" without realising that some p1ssy little debt collector will buy the debt at 1/50th of it's worth and then "try their luck" to get something! How many folk have fallen for that one I wonder?

Once you've gone bankrupt the debt ceases to exist. No-one can pursue you any portion of the debt. Fact.

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  • 312 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% +
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      • Even
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      • up 5%



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