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Young British And Broke - Bbc3 Now

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If you're skint, on benefits, unlikely to get a job, isn't it just the case of taking out as many loans as possible and then saying ****** you I cannot repay them, and then you have to payback a pound a month or something?

if you have assets and/or a job then a different matter i'd guess.

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My advice to any 18 years old:

Take out as much debt as possible, pay off all university debt with more debt, go bankrupt, emigrate, ****** them.

That's what the system tries to do with you anyways.

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My advice to any 18 years old:

Take out as much debt as possible, pay off all university debt with more debt, go bankrupt, emigrate, ****** them.

That's what the system tries to do with you anyways.

It's genuinely not a bad strategy. Pay for your university fees with unsecured debt and improve your quality of life in your early 20s. Maybe get a few grand stashed away as well.

Default on it all, disappear travelling for a year, and then offer small full and final settlements when the letters slow down.

You can then stay in the UK and keep off the radar a little, or work abroad for a few years.

At age 25 you are likely to be in a much better financial situation with this strategy than you would have been otherwise.

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My advice to any 18 years old:

Take out as much debt as possible, pay off all university debt with more debt, go bankrupt, emigrate, ****** them.

That's what the system tries to do with you anyways.

Better still, don't take out the uni-debt in the first place :lol:

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Young people today are far too compliant, and debt based university system aids that compliance, the need to 'behave' get a good cv, land a good job with a corporate, or end up forever as an insecure rent forever looser. They are almost like the 'Stepford Wives' generation that do as they are told.

A very clever strategy by the 'powers that be.'

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My advice to any 18 years old:

Take out as much debt as possible, pay off all university debt with more debt, go bankrupt

Good luck getting your hands on £50k of unsecured debt in your early 20s.

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Good luck getting your hands on £50k of unsecured debt in your early 20s.

I know a bloke in his 30s who got around 350k in debt secured to his property, which the bank owned, he then went back to South Africa where he bought a small holiday village. He told me (back in the early 2000s) that the banks were very poor at checking up if you had existing debt on the asset. They told you they did, but in practise didn't bother.

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I know a bloke in his 30s who got around 350k in debt secured to his property, which the bank owned, he then went back to South Africa where he bought a small holiday village. He told me (back in the early 2000s) that the banks were very poor at checking up if you had existing debt on the asset. They told you they did, but in practise didn't bother.

+1

Wasn't this the way the economic boom was financed in the 2000s.

After the CC the UKs drop in GDP was just a sign of how much reckless lending was going on.

LibCon now accept this and hope that they can create a new UK housing subprime bubble to get them back into power in 2015.

Edited by Blod

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+1

Wasn't this the way the economic boom was financed in the 2000s?

After the CC the UKs drop in GDP was just a sign of how much reckless lending was going on.

LibCon now accept this and hope that they can create a new UK housing subprime bubble to get them back into power in 2015.

A.K.A

LIAR LOANS?

. :rolleyes:

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I know a bloke in his 30s who got around 350k in debt secured to his property, which the bank owned, he then went back to South Africa where he bought a small holiday village. He told me (back in the early 2000s) that the banks were very poor at checking up if you had existing debt on the asset. They told you they did, but in practise didn't bother.

I presume he had no intention of ever coming back? Holiday village bought and paid for by the bank then? And no plan what so ever to pay it back I take it?

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