Giraffe Cat Posted February 14, 2005 Share Posted February 14, 2005 Browsing the front pages of the papers on the BBC website this morning, I found this on the Daily mail: I couldn't find the article on http://www.dailymail.co.uk *spit*. But I heard a bit on 5 live that said more than half of personal bankruptcies are for people under 30. *Edit: I just noticed it says 60% over the headline up there ^* Looks like those who struggled to get on the ladder are getting stung. On a side note, whilst on http://www.dailymail.co.uk *spit* I couldn't help notice the weather forcast at the top of the page: Are they adding seasonal adjustment to the weather now? Quote Link to comment Share on other sites More sharing options...
OnlyMe Posted February 14, 2005 Share Posted February 14, 2005 More worrying, these figures are apparently based on Scottish figures - where the new rules on easy bankruptcy aren't in place, the E&W figs are likely to be worse.. Reasons - student debt and other borrowing - £60K a pop (from R5). Quote Link to comment Share on other sites More sharing options...
Guest Charlie The Tramp Posted February 14, 2005 Share Posted February 14, 2005 Remember the TV programme Bank of Mum and Dad? That showed the timebomb waiting to explode with the attitude, I want it now, and I`m entitled to it. Quote Link to comment Share on other sites More sharing options...
ianupton Posted February 14, 2005 Share Posted February 14, 2005 duh..when you ask a generation to stump up 5 times the going rate for housing, what did people expect to happen. ? Quote Link to comment Share on other sites More sharing options...
weezer Posted February 14, 2005 Share Posted February 14, 2005 How is the £60k debt calculated? Is that what students graduating now are expected to be in for? I'm under 30 and graduated with £5k owing to the student loans company which when your just starting out is a big enough pain. Quote Link to comment Share on other sites More sharing options...
AteMoose Posted February 14, 2005 Share Posted February 14, 2005 How is the £60k debt calculated? Is that what students graduating now are expected to be in for? I'm under 30 and graduated with £5k owing to the student loans company which when your just starting out is a big enough pain.<{POST_SNAPBACK}> Student Loans arent inclusided in Morgage calculations.... Quote Link to comment Share on other sites More sharing options...
pendragon Posted February 14, 2005 Share Posted February 14, 2005 I read the same story yesterday (I think it might have been the Sunday Times). If I remember rightly, the Daily Mail's headline is based on a hard figure of 9,000 - that's 5,400 Under 30 bankrupts. Probably more worrying is the huge loads of debt carried by hundreds of thousands of still-solvent people. Quote Link to comment Share on other sites More sharing options...
dogbox Posted February 14, 2005 Share Posted February 14, 2005 MORE FANTASTIC NEWS FOR HPI. The new rules mean going bankcrupt is a doddle (just pretend youve split with partner, earn cash for a while etc), and the bankcruptcy stigma is not waht it was. Many lenders now offer mortgages 1 year out from bankcruptcy. Student debt - just go bankcrupt. More fule for the fire!!!!! (BTW - a bad thing for society IMO, but another new factor underpinning HPI. IE - Cant pay mortgage, just go bankcrupt and start again in 12 months.) Quote Link to comment Share on other sites More sharing options...
Casual Observer Posted February 14, 2005 Share Posted February 14, 2005 MORE FANTASTIC NEWS FOR HPI.<{POST_SNAPBACK}> .....he says, as he tries to offload his investment flat.. Quote Link to comment Share on other sites More sharing options...
right_freds_dead Posted February 14, 2005 Share Posted February 14, 2005 MORE FANTASTIC NEWS FOR HPI.The new rules mean going bankcrupt is a doddle (just pretend youve split with partner, earn cash for a while etc), and the bankcruptcy stigma is not waht it was. Many lenders now offer mortgages 1 year out from bankcruptcy. Student debt - just go bankcrupt. More fule for the fire!!!!! (BTW - a bad thing for society IMO, but another new factor underpinning HPI. IE - Cant pay mortgage, just go bankcrupt and start again in 12 months.) <{POST_SNAPBACK}> that last line says it all............... can you spot whats wrong with people & whats wrong with housing.... Quote Link to comment Share on other sites More sharing options...
dogbox Posted February 14, 2005 Share Posted February 14, 2005 .....he says, as he tries to offload his investment flat.. Get it right casual, afore I tear ye a new ars3hole. Quote Link to comment Share on other sites More sharing options...
Libertine Posted February 14, 2005 Share Posted February 14, 2005 MORE FANTASTIC NEWS FOR HPI.<{POST_SNAPBACK}> ***** !! Student debt - just go bankcrupt. student debt isn't acceptable for declaring bankruptcy !! More fule for the fire!!!!! more nonsense from the idiot !! Quote Link to comment Share on other sites More sharing options...
gilf Posted February 14, 2005 Share Posted February 14, 2005 Probably more worrying is the huge loads of debt carried by hundreds of thousands of still-solvent people.<{POST_SNAPBACK}> That's the point, the number of people going bankrupt isn't going to be a problem but it's a sign of increased debt overall. For all the people actually taking the steps to declare themselves bankrupt there are bound to be loads more on the very edge. Quote Link to comment Share on other sites More sharing options...
weezer Posted February 14, 2005 Share Posted February 14, 2005 Student Loans arent inclusided in Morgage calculations....<{POST_SNAPBACK}> Do you mean student loans are not taken into consideration by a bank when calculating how much they will lend you ? If so I think you should have a word with the Halifax as they do ! If these under 30's in £60k debt are like those on the 'bank of mum and dad' program, ie. low paid jobs and range rover 4x4s and designer wardrobes, then yes they are friggin idiots. Quote Link to comment Share on other sites More sharing options...
Ursa Minor Posted February 14, 2005 Share Posted February 14, 2005 Student debt - just go bankcrupt.<{POST_SNAPBACK}> According to the Insolvency Service, since 1/9/2004, outstanding student loans cannot be claimed in bankruptcy. They remain the responsibility of the (former) student to repay within the terms of the loan arrangement. Ursa Minor Quote Link to comment Share on other sites More sharing options...
Casual Observer Posted February 14, 2005 Share Posted February 14, 2005 Get it right casual, afore I tear ye a new ars3hole.<{POST_SNAPBACK}> Have you taken it off the market then? Quote Link to comment Share on other sites More sharing options...
Casual Observer Posted February 14, 2005 Share Posted February 14, 2005 According to the Insolvency Service, since 1/9/2004, outstanding student loans cannot be claimed in bankruptcy. They remain the responsibility of the (former) student to repay within the terms of the loan arrangement. Ursa Minor <{POST_SNAPBACK}> And they deduct it from pay, via PAYE! Quote Link to comment Share on other sites More sharing options...
simon99 Posted February 14, 2005 Share Posted February 14, 2005 The article is on the Mails money website if anyone hasn't yet found it: http://www.thisismoney.co.uk/credit-and-lo...page_id=62&ct=5 Quote Link to comment Share on other sites More sharing options...
right_freds_dead Posted February 14, 2005 Share Posted February 14, 2005 And they deduct it from pay, via PAYE!<{POST_SNAPBACK}> ouch !!! that'll teach them to dream.... why cant they do that at the CSA so im not paying for everybodys elses children to be brought up and clothed ? Quote Link to comment Share on other sites More sharing options...
Bluelady Posted February 14, 2005 Share Posted February 14, 2005 ouch !!! that'll teach them to dream....why cant they do that at the CSA so im not paying for everybodys elses children to be brought up and clothed ? <{POST_SNAPBACK}> They do. Quote Link to comment Share on other sites More sharing options...
dogbox Posted February 14, 2005 Share Posted February 14, 2005 student debt isn't acceptable for declaring bankruptcy !! What rule book did u read that in sfbs? Some students have already gone bankcrupt you muppet. Quote Link to comment Share on other sites More sharing options...
dogbox Posted February 14, 2005 Share Posted February 14, 2005 And they deduct it from pay, via PAYE! You have no imagination do you. What man invents man gets round. Watch the newspapers. Quote Link to comment Share on other sites More sharing options...
Casual Observer Posted February 14, 2005 Share Posted February 14, 2005 You have no imagination do you. What man invents man gets round.Watch the newspapers. <{POST_SNAPBACK}> If you don't earn above the threshold, you don't HAVE to pay it back. If you're on the PAYE system, as the vast majority of working graduates will be, you will pay. On a broader note, what makes you think bankruptcies and defaults are going to help your case? For every bankruptcy there's a loser somewher. My brother-in-law lost his business and his house because one of his customers went bankrupt, and he didn't get paid. Did you think bankruptcy was some kind of win-win situation? Unbelievable. Quote Link to comment Share on other sites More sharing options...
dogbox Posted February 14, 2005 Share Posted February 14, 2005 If you don't earn above the threshold, you don't HAVE to pay it back. If you're on the PAYE system, as the vast majority of working graduates will be, you will pay.On a broader note, what makes you think bankruptcies and defaults are going to help your case? For every bankruptcy there's a loser somewher. My brother-in-law lost his business and his house because one of his customers went bankrupt, and he didn't get paid. Did you think bankruptcy was some kind of win-win situation? Unbelievable. I dont agree with going bankcrupt as an easy way out but if u talk to anyone recently gone bankrupt they will tell u it was very easy and a massive weight off thier shoulders. Huge debt is removed, and the only down - side is a higher next mortgage cost for 2 or years BUT still far far less going out had they continued with thier other debts and got a normal rate mortgage. This is why bankruptcy is on the increase - the stigma has gone, and its very easy. As for the PAYE bit, I give u the CSA expereince. Absent parents easily run rings round the system and its gonna be no differnt with the new student bankruptcies. Why are u so easily fooled? Whatever Govt introduce people exploit to thier own advantage, the theory and rules are ignored by many. Quote Link to comment Share on other sites More sharing options...
Casual Observer Posted February 14, 2005 Share Posted February 14, 2005 I dont agree with going bankcrupt as an easy way out but if u talk to anyone recently gone bankrupt they will tell u it was very easy and a massive weight off thier shoulders. Huge debt is removed, and the only down - side is a higher next mortgage cost for 2 or years BUT still far far less going out had they continued with thier other debts and got a normal rate mortgage. This is why bankruptcy is on the increase - the stigma has gone, and its very easy.As for the PAYE bit, I give u the CSA expereince. Absent parents easily run rings round the system and its gonna be no differnt with the new student bankruptcies. Why are u so easily fooled? Whatever Govt introduce people exploit to thier own advantage, the theory and rules are ignored by many. <{POST_SNAPBACK}> What's CSA got to do with the student loan system? Students do not need to repay if they are not earning - if they do they can't avoid it. Bankruptcies will lead to a crash (see my earlier example) Quote Link to comment Share on other sites More sharing options...
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