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Bankrupt Twice At 24

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And people moan about people on benefits. If he was on benefits, most he could have claimed by age 24 would be around £56k.

With a credit card he has managed to 'claim' twice as much as that.

Bankruptcy should probably last longer than one year, or at least it could last 7 years the 2nd time around.

This guy could have been cunning and bought and buried gold, after being discharged the 2nd time he cold buy a house outright. I could do that and retire in about 3 years. Well before my 30th birthday!

Who the hell was lending him money in the first place?

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Who the hell was lending him money in the first place?

More important than that is who the hell is left picking up the tab? Johnny Taxpayer no doubt via the bailed out farces we call banks.

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Incredibly, Lee encourages other youngsters to copy him — and claims lenders are to blame for making inadequate checks on clients.

He's right and why wouldn't you. I recommend they do the same. It beats working for a living.

When I was 24 I didn't behave like this for all the obvious moral and ethical reasons. I'm now 33 and wish I had as I'm financially worse off for not doing so.

Fair play to him for not having a conscience; few others in the UK have one either. It's the only way to get ahead in this country and good on him for figuring it out at such a young age.

And seriously: anyone considering a student loan should consider a credit card instead.

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He's right and why wouldn't you. I recommend they do the same. It beats working for a living.

When I was 24 I didn't behave like this for all the obvious moral and ethical reasons. I'm now 33 and wish I had as I'm financially worse off for not doing so.

Fair play to him for not having a conscience; few others in the UK have one either. It's the only way to get ahead in this country and good on him for figuring it out at such a young age.

And seriously: anyone considering a student loan should consider a credit card instead.

he has good official examples to follow to...most banks, several PIIG governments, deficit spenders and SMI issuants.

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If you have been bankrupt once and they give you credit again you might as well spend it and go bankrupt twice.

Reading the bankrupt posts on MSE eventhough it is not as harsh as it was a few years back once bankrupt and disscharged after only a year there will always be certain avenues of life closed to you . The chances of getting a mortgage are now almost non existant and that can remain for life as the disscharge does not stop you being barred and they can always check, the mark is always there no matter how long you remain disscharged. Certain jobs will always be off limits , and you find yourself in that position for ever .

If you have gone down that route why not do it all over again ? After another year of being bankrupt you will end up back where you were a year after the first bankruptcy in the same place as those who only went bankrupt once.

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If you have been bankrupt once and they give you credit again you might as well spend it and go bankrupt twice.

Reading the bankrupt posts on MSE eventhough it is not as harsh as it was a few years back once bankrupt and disscharged after only a year there will always be certain avenues of life closed to you . The chances of getting a mortgage are now almost non existant and that can remain for life as the disscharge does not stop you being barred and they can always check, the mark is always there no matter how long you remain disscharged. Certain jobs will always be off limits , and you find yourself in that position for ever .

If you have gone down that route why not do it all over again ? After another year of being bankrupt you will end up back where you were a year after the first bankruptcy in the same place as those who only went bankrupt once.

no, the "Mark" is gone after 6 years.

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no, the "Mark" is gone after 6 years.

No it is not the " Mark " is gone from your credit file after 6 years , but can and is traced on the London Gazette for ever , some financial companies ask the question " have you EVER been bankrupt and do check it out.

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If privately owned and operated credit companies are stupid enough to give this guy money, then its their problem.

"You're a cleaner on minimum wage and you'd like to buy this £30,000 BMW? Not a problem sir. Just fill out this credit agreement."

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And people moan about people on benefits. If he was on benefits, most he could have claimed by age 24 would be around £56k.

With a credit card he has managed to 'claim' twice as much as that.

Bankruptcy should probably last longer than one year, or at least it could last 7 years the 2nd time around.

This guy could have been cunning and bought and buried gold, after being discharged the 2nd time he cold buy a house outright. I could do that and retire in about 3 years. Well before my 30th birthday!

Who the hell was lending him money in the first place?

I'd go for a minimum of 3 years if it's deemed "reasonable debt" ie: loss of job/ill health

if it's because you're a looney spender then it should be life.

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I like the comments.

@Willowandme, the difference is this guys name will be blacklisted and may never again be able to get a bank loan or a mortgage if he ever needs one,

How awful. At some point being a debt slave might be denied him.

What punishment.

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I like the comments.

@Willowandme, the difference is this guys name will be blacklisted and may never again be able to get a bank loan or a mortgage if he ever needs one,

How awful. At some point being a debt slave might be denied him.

What punishment.

I think you will find that most people on this site want a house of their own at some point . For a few they will buy with cash but for most they will have to take a mortgage unless you have any other idears how they might buy. Being blacklisted for a mortgage is not something most people would want . Quite simple if you think about it. :lol:

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I think you will find that most people on this site want a house of their own at some point . For a few they will buy with cash but for most they will have to take a mortgage unless you have any other idears how they might buy. Being blacklisted for a mortgage is not something most people would want . Quite simple if you think about it. :lol:

He's a cleaner. Probably got a half dozen kids by half dozen wimmin. Housing benefit will see him sorted.

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He even paid a £495 bankruptcy fee by credit card.

I'm surprised he hasn't come a cropper over this; as paying a bankruptcy fee by credit card is prima facie evidence of deliberate and pre-meditated fraud.

Borrowing money without the intention of repaying it is, by definition, fraud. If the money is being used to file a petition for bankruptcy, then it is clear cut that the intention is not to repay the money. There is previous case law to this effect.

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He's a cleaner. Probably got a half dozen kids by half dozen wimmin. Housing benefit will see him sorted.

How do you know he has half a dozen kids by half a dozen women ? Is it something that most cleaners have ? If he has the HB will sort the mothers out but not him if the women don't want him under their roof. Unmarried mothers win when it comes to social housing unmarried fathers are at the wim of the women.

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If privately owned and operated credit companies are stupid enough to give this guy money, then its their problem.

"You're a cleaner on minimum wage and you'd like to buy this £30,000 BMW? Not a problem sir. Just fill out this credit agreement."

An "irresponsible cleaner" as well apparently. So likely to leave a trail of shite everywhere.

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I'm surprised he hasn't come a cropper over this; as paying a bankruptcy fee by credit card is prima facie evidence of deliberate and pre-meditated fraud.

Borrowing money without the intention of repaying it is, by definition, fraud. If the money is being used to file a petition for bankruptcy, then it is clear cut that the intention is not to repay the money. There is previous case law to this effect.

I expect the Sun are just giving him enough rope story to hang himself.

Looking at the mug shot, you wonder whether a large majority of 'bad borrowers' could be weeded out simply by insisting all applications are submitted with a recent facebook picture..

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It seems that, as usual, our laws are unfit for purpose.

Bankruptcy law needs to be able to distinguish the well-intentioned but failed business venture from the self-indulgent spendthrift. As of course should the lenders!

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It's good to know that part of our great national banking investment that will pay our way in our uncertain national future is in having turned some things temporarily orange.

Page31_04_1377782a.jpg

Steroids and tanning parlours are expensive.

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  • 337 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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