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Antsy

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Had to go to Croydon county court this morning to sign an affadavit (trying to get deposit off ex-landlord circa June 2004, got county court judgement but it's worth bugger all and so have ordered him to go to court to disclose his financial situation...blah blah). Anyway, man next to me in the queue was petitioning for bankruptcy. 'I owe about 70k' he said (gulp). "What about any mortgage?' said the clerk. 'Oh - didn't think that counted' he said. 'Join the list then sit and wait but it might be some time - they're snowed under' said she in bored voice, handing him a sheet with about 20 names on it to sign. Oh dear.

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I bought two new car tyres this morning - £120 for the pair - and put them on my credit card. I also have my AA membership on the card this month and about £40 of books I bought. I don't like having that much on credit so the idea of having 70K is simply frightening. I can't see how someone could ever repay that kind of money. Very sad.

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I bought two new car tyres this morning - £120 for the pair - and put them on my credit card. I also have my AA membership on the card this month and about £40 of books I bought. I don't like having that much on credit so the idea of having 70K is simply frightening. I can't see how someone could ever repay that kind of money. Very sad.

When I got married I payed for the honeymoon on my credit card. It wasn't a fortune, but I hated having that much money on it. We ended up setting an extremely tight budget for ourselves to make sure we could pay it off ASAP. Ever since we only use credit cards when it makes sense (e.g. to use the internet fraud protection when shopping online) and always pay it off in full every month.

If I owed £70K i don't think I'd be able to get to sleep at night.

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I bought two new car tyres this morning - £120 for the pair - and put them on my credit card. I also have my AA membership on the card this month and about £40 of books I bought. I don't like having that much on credit so the idea of having 70K is simply frightening. I can't see how someone could ever repay that kind of money. Very sad.

Most of it will be due to interest, penalty charges and bailiff fees, if you leave your £160 bill for a couple of years and don't bother paying I'm sure after they've sent somebody after you it would soon develop into £2K in no time at all.

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watched a woman this morn at the cash machine.

i was there pulling out money to put directly in my gold coin dealers bank account

she was taking ages and well as i waited wondering what the heck she was doing that took so long, i saw her sticking credit card after credit card into the machine, and drawing paltry amounts like 10 pound out of each.

looked to me someone just paid the minimum on there cards and was now drawing out the maximum again.

its there life not mines

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i dont use credit cards i use debit cards. i did have one with capital one, but i cancelled it. boy did they harrang me to keep it. it took 3 phone calls to cancel it.

whats in your wallet. thats what made my mind up.

sort of speaks for itself.

nothing for you, id mutter in my mind.

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Guest Charlie The Tramp

Listening to the Bankruptcy cases in the County Courts is more interesting than the Criminal Courts today. What an eye opener they are to the real debt problem.

My accountant who also deals with Insolvency says the problem is growing day by day.

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we are told that we need 1,000,000 more homes in this country..

although that is not area specific.

Well 100,000 are now three months or over.. behind on their mortgage repayments.

so thats 10% of the "percieved" number..

ouch..

and the 100,000 is growing every month...

more and more...

no relent..

Is this the tip of the ice berg?

how many more are piling their debt into credit cards each month.. heading toward crisis..?

Speculate...?

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Looks like the government is going to bail out bad debtors – it’s no longer a dirty word

More Help If You're Deep In Debt

Market Comment

By Jane Mack

People in deep in debt may now get help from a new pilot scheme launched by the government this week.

http://uk.biz.yahoo.com/051003/35/ftjmn.html

Edited by look to the past

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Still have to pay it back though.

I can imagine Gordons next tax.

Tax for non home owners.

The tax would be constructed to heavily tax us to supplement BTL Landlords, Mewers and Lie To Buyers

....

direct payments to stop their debt from crushing them..

come on.. we are an untapped resource...

pockets bulging we can rush to trescue the poor dears..

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Looks like the government is going to bail out bad debtors – it’s no longer a dirty word

More Help If You're Deep In Debt

Market Comment

By Jane Mack

People in deep in debt may now get help from a new pilot scheme launched by the government this week.

http://uk.biz.yahoo.com/051003/35/ftjmn.html

How is changing the final demand notice into a more user friendly format (i.e. telling people what they can do / must do to resolve the problem) bailing people out.

Many people who got into debt are foolish or ignoring the problem. This may at least get people to do something rather than running away.

The credit charities are not going to like it. They are currently totally swamped without new people appearing.

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I do feel bad for those in horrible amounts of debt..

too many were mislead by a government and banking structure more interested in their own plans then the people themselves.

Bankers.. well.. am I suprised..

Government..

shame on you.. shame..

Of course some were gready wan*ers with no more financial idea then my cat...

to them..

It wasn't free money... look.. they want it back

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"Tax for non home owners.

The tax would be constructed to heavily tax us to supplement BTL Landlords, Mewers and Lie To Buyers"

yes, this is exactly what I expect in Ireland. It will be spun such that, as the wider economy falters, the renters need to "pay their fair share" etc...

the flipside of taxes are subsidies... if the housing market looks like taking down the wider economy, then watch out for sleath subsidies for mortgage holders... taxes on non-mortgage holders going directly to mortgage holders, e.g 'key money' or stamp duty on new renters going into a fund indirectly benefiting landlords

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Still have to pay it back though.

I can imagine Gordons next tax.

Tax for non home owners.

The tax would be constructed to heavily tax us to supplement BTL Landlords, Mewers and Lie To Buyers

....

direct payments to stop their debt from crushing them..

come on.. we are an untapped resource...

pockets bulging we can rush to trescue the poor dears..

Err, it's called inflation, if you have cash then you're being robbed blind without realising, if you have a debt mountain it's being eroded (hopefully faster than the higher interest rates).

Your joke is so true it's just not funny <_<

Edited by BuyingBear

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they cant take yer gold

seriously if i was someone about to go tits up i would bang out the last bit of credit and money i could and buy some gold. leaving of course no paper trail just good old pay cash and hide it.

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they cant take yer gold

seriously if i was someone about to go tits up i would bang out the last bit of credit and money i could and buy some gold. leaving of course no paper trail just good old pay cash and hide it.

I was thinking the very same thing last night...I think some people may cotton on to this.

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Actually they can and have done in the past, Roosevelt seized the citizenry's gold in 1933.

a fool and his money are easily parted. Only the stupid handed theirs in. Most (IIRC) wasn't handed over.

edit...looks like a stash has turned up on robinson crueso island:

http://news.bbc.co.uk/1/hi/world/americas/4291334.stm

Edited by bottletop

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a fool and his money are easily parted. Only the stupid handed theirs in. Most (IIRC) wasn't handed over.

It still made it essentially untradable with anyone besides the government, who would pay you their gold fix ($20) and could then sell it on ($35).

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  • 338 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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