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A Mum’s Plan To Clear Her Debts And Make Money By Doing Up And Selling A House Has Ended In Disaster

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Guest X-QUORK

"I thought, I'll buy another property, give it a lick of paint and scam some sucker out of £30k more than I paid for it. Trouble is, it seems houses don't always go up in value after all. Is it illegal to go on the game?"

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Guest grumpy-old-man

" She admits she got into trouble because of the rising costs of her home, which she has now put on the market for £339,000."

oh dear, there are going to be loads of stories like this by xmas.

Everyone in work & at the pub will be sharing misfortunes like this.

c'mon though, what would possess a person to put £35,000 on credit cards ffs :blink::blink:

she is 44, not 14.

Edited by grumpy-old-man

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Divorcee Wendy is also facing bankruptcy proceedings from American Express.

That sucks.....there was a time when credit card debt was unsecured. Now it seems that AMEX will stat demand you if you have any assets at all.

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So did she make a profit the first time and pay tax on it?

I've argued that this should be the case... but I think it is possible to avoid even CGT by living where you're developing.

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One of countless hundreds of thousands I reckon.......

This idea that it is a God given right that - if you go out and "do up" a property - you just automatically "make money" -- this has seeped like poison into the nation's psyche..... It really is so sad.......... The raison d'etre for LIVING is to "be in property and have a portfolio" and you'll go to heaven............ Oh it makes me sick...

More on that Sun page re: debt here -

http://www.thesun.co.uk/sol/homepage/news/...ticle873954.ece

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c'mon though, what would possess a person to put £35,000 on credit cards ffs :blink::blink: she is 44, not 14.

It's only 10% of the value of her house. She's rich, don't you know?

Working is for other people.

Far better to be a student and avoid council tax - and survive on part time work so as not to pay substantial income tax or NI either.

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Working is for other people.

Far better to be a student and avoid council tax - and survive on part time work so as not to pay substantial income tax or NI either.

Sadly you are bang on.........and no wonder competiveness is being eroded in Britain.

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How much was she egged on by the many property flipping programmes run by the BBC and which are still running and make it look so easy!

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It's only 10% of the value of her house. She's rich, don't you know?

Working is for other people.

Far better to be a student and avoid council tax - and survive on part time work so as not to pay substantial income tax or NI either.

Being a mother IS work, especially if you are divorced (OK, PERHAPS with support from ex-husband & perhaps not). Now her kids are nearly grown up she is trying to get a qualification which will mean she can work productively for the next 15 - 20 years. A lot of women her age missed out on doing a degree when they were younger because of different social attitudes, why should she not make up lost ground now? Her situation does NOT automatically make her a skanky chav - and student loans do have to be paid back.

That said, I devoutly hope she isn't studying business or accountancy! She took an appalling gamble which has blown up in her face.

Edited by cartimandua51

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But she still has the nerve to plead poverty when she has £1/3million in assets. And actually gets debt relief from her creditors, free legal advice, and sympathy from the press.

No doubt she'll be allowed to keep everything she has, default on the debts and pass the liability to the banks, who then pass the liability to the taxpayer. We might as well all send her a tenner in the post now.

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This is a good example of why women shouldn't be allowed power over large sums of money. They should stick to baking delicious biccies for grateful husbands.

:P:P I second that... WOMEN - know your place!

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From the article:

A spokesman said: “Having fallen into arrears on her credit card, we discussed the possibility of a reduced payment arrangement with Ms Black in December. “But we had received no further payments, no financial assessment and no indication of a level of payment from the customer.

“It is only as a last resort, where we have attempted to offer assistance and the customer has either ignored this or failed to keep to an agreement, that we would use our right to set off against a balance in another account, as we have in this instance. We are writing to Ms Black again to explain her options with regard to a reduced payment arrangement.

So she completely ignores all contact from her creditors & makes no payments for 3 months and then expects help?! Unbelievable.

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This is a good example of why women shouldn't be allowed power over large sums of money. They should stick to baking delicious biccies for grateful husbands.

....but, but some women are good at making bread..... ;)

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Guest grumpy-old-man
This is a good example of why women shouldn't be allowed power over large sums of money. They should stick to baking delicious biccies for grateful husbands.

that cartimandua51's going to have your guts for garters, Mr wickywackwoo. ;)

just look what she did to poor A.Steve.

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She took an appalling gamble which has blown up in her face.

At least she's in good company since that's what a lot of the top finance professionals have done!

This is a good example of why women shouldn't be allowed power over large sums of money. They should stick to baking delicious biccies for grateful husbands.

.......who should be cutting the lawn and washing the car instead of playing 'catch' with bags of mortgages!

Edited by Sofa Spud

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Guest grumpy-old-man
Did anyone spot the headline £600bn or $1.2trillion!!! That is from No10 apparently.

From recall, that is equivalent to ALL the capital of the American banks.

well spotted HAM.

remember though, that £600 billion is on asian 5 years interest free credit with a low start scheme.....so no worries. :lol:

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  • 297 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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