Friday, Aug 11, 2006

The next epic debt diary installment!

BBC News: Debt diary: Payment deadline

My home visit from the debt counsellor, acting on behalf of Kensington Mortgages, is very strange. I simply hand him the latest copy of my budget, how I plan to make token repayments and still find money to live, and he copies this down onto a form. He asks how I got into this situation and I explain that I am a freelance worker and my client terminated my eight month contract early when I told him that I was pregnant, and that put me in considerable financial difficulty.

Posted by webmaster @ 11:42 AM (530 views)
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17 Comments

1. Leaving The Country said...

Ahhh....there are few constants in life. Death, taxes, and the stupidity of this woman.

It adds to my Friday feeling reading about this.....sweet joy.

"He asks how I got into this situation and I explain that I am a freelance worker and my client terminated my eight month contract early when I told him that I was pregnant, and that put me in considerable financial difficulty. "

...correct me if I am wrong, but did she not choose to become pregnant. This was planned, not out of the blue.

"I wonder if they have any insurance products which would have covered me for the situation I now find myself?"...classic....insurance for getting yourself up the duff!!!!! I've just fallen off my seat with laughter......

perhaps we can get insurance policies to pay out for getting ourselves in debt way above our ability to repay based on pure greed and a belief that a one bed flat in Slough will rise to the value of the GDP of Brazil in 5 years....as house prices only ever go up!

Friday, August 11, 2006 03:01PM Report Comment
 

2. talking rot said...

The stupidity of this woman just makes me want to scream. She gambled and lost out - oh dear, what a pity. Life moves on. Hopefully sufficient muppets will find themselves in a similar position to hers, dump their Buy-To-Lets and cause a House Price Crash.30% over 3 years would be good. Perhaps then I'll be able to afford that cramped cardboard box under the Embankment at last.

Friday, August 11, 2006 03:43PM Report Comment
 

3. denzil said...

---------------------------
He asks how I got into this situation and I explain that I am a freelance worker and my client terminated my eight month contract early when I told him that I was pregnant, and that put me in considerable financial difficulty.
---------------------------

The fact that the woman is an idiot obviously had little bearing on her financial woe.

Friday, August 11, 2006 03:55PM Report Comment
 

4. japanese uncle said...

I wonder the whole project of her publishing this diary might possibly be a well-calculated exercisee in which involvement of the BBC is expected to exert some influence to the attitude of the mortgage providers, who generally may wish to avoid any adverse publicity as a ruthless money lender.

Friday, August 11, 2006 03:59PM Report Comment
 

5. Surfgatinho said...

Do you think she is still wearing the smug expression?!

Friday, August 11, 2006 04:31PM Report Comment
 

6. Ticktock said...

which in my case means having my baby and then getting back to work.

So the baby is in for a great childhood too.

Why doesn't she tell the bank to **** off, pack her job in and become one of Browns 'mirricle economy' dependands like everyone else?

A Nation that can no longer successfuly reproduce itself it is a Nation no longer.

Friday, August 11, 2006 04:46PM Report Comment
 

7. markd said...

I wonder if she actually realises what resulted in her pregnancy?....or perhaps that is another aspect of cause and effect that is beyond her!

Friday, August 11, 2006 04:46PM Report Comment
 

8. Cstanhope said...

I am fed up with these little children like this women who take no personal responsibility. I got in to some issues with debt in the United States but I took out a loan in the UK upon my return to pay them off. When I had my problem I had no house or rich mummy and daddy to bail me out, but I took on my obligations.

Like most of these Property Portfolio Juniors (PPJ) complaining of debt, simple sell your house whilst the market is good move to a cheaper location and keep the change.

Just you wait this is the start of a series of "SOB" stories that will soon be coming out and if the Government even thinks that we should bail them out then it's time for us to march on London I think.....

Friday, August 11, 2006 06:08PM Report Comment
 

9. little professor said...

Look guys, I've ridiculed this idiotic woman as much as the rest of you, but the fact remains she is only a few days from having a baby and is having to deal with horrific financial problems and the threat of repossesion. Admittedly, this situation is entirely of her own making, and she has no right to be whining or blaming others for her predicament, but you have to have a heart and wish her all the best for the delivery. Hope the lenders will back of at least for a few weeks and let her enjoy what should be the greatest moment of her life.

Friday, August 11, 2006 06:15PM Report Comment
 

10. Caledonian-emigre said...

It pretty well sums up "UK Plc" at the moment - overvalued house prices are ruining the very basis underpinning society. Forget having a family and children - forget living together in a community.
Just simply pay an extortionate mortgage and deny yourself the right to which every woman is entitled - to have a baby and continue a once great nation.
What kind of a distorted materialistic society has Britian become?
Im glad Ive opted out of Blairs corporate nation for somewhere in Europe more normal.

Friday, August 11, 2006 08:11PM Report Comment
 

11. indiablue19 said...

I must be living on a different planet; or perhaps in a different century, but the last time I checked it still took two individuals to do anything that resulted in a pregnancy. Where is the other one? Why is this person never even mentioned as a concerned party who would like her delivery to be as carefree as possible -- even if she is a fiscal moron? Or does he live on a different planet as well?

Friday, August 11, 2006 10:42PM Report Comment
 

12. Swamp said...

Like she say's, she is asset rich but cash poor prob like so many of the amateur BTL investors hoping to make a quick buck over the last few years or buying property as a pension which is dumb IMO (bbc and itv property' programs have much to blaim for the current market situation). She is an idiot but I hope she comes out well along with her baby and maybe learns from it. I'd be thinking of selling the BTL's and the resturant to pay off the debts and get the creditors off my back to give some breathing room...

Friday, August 11, 2006 11:34PM Report Comment
 

13. sebastian said...

She's not really asset rich though as she is mortgaged to the max on all her properties from the sounds of things.

Saturday, August 12, 2006 11:38AM Report Comment
 

14. inbreda said...

She likes to make out that she's not working, but to be fair she is... unless she's giving her diary to the BBC for nothing.

Saturday, August 12, 2006 12:17PM Report Comment
 

15. paul said...

little professor.

Every mother deserves to have a stress free delivery. There are a few things that make Ms Begum's situation different:

1. This isn't her first pregnancy. She knows what she's doing.
2. I find that I need to stress this a lot about her situation. HER HOME IS NOT BEING REPOSSESSED. It's her BTL properties that are being taken off her, which she's whingeing about and the BBC is braying and farting on about.
3. Her husband (yes) is nowhere to be seen in all of this. Is that because the sympathy card wouldn't be so easy to play if Mr and Mrs Begum were facing debts? I think that's it, and let's face it - he must have been involved in the pregancy at some point (presumably).

The BBC is using this as a means to prevent BTL sell-offs and the resulting had fall for "property investors". The key phrase she uses was a few weeks ago when she said (paraphrasing):

"They won't let me alone to have my baby, innit"

Yeah whatever love.

Saturday, August 12, 2006 02:33PM Report Comment
 

16. uncle tom said...

A little detail that amuses me is this 'token payment' nonsense - she expects to make payments of just 1 - and then expects people to send her paying in books to make it easier for her to do so!

As a businessman, I once had a problem debt settled at 10/month. It was an accounting pain in the backside. Trust me - banking and reconciling puny payments is something no business wants to be doing.

If a customer started sending me 1 instalments, I'd take them to the County Court without delay...

Monday, August 14, 2006 10:47AM Report Comment
 

17. Bfskinner said...

Ah, I see the next episode of Gimme Gimme Gimme gas arrived.

correct me if I am wron, but she is free lance. does that not mean self-employed. so she expected to be paid for doing a job she could'nt complete? Surely, she had a contract? no. Surely she should be sueing for breach of contract. if pregnant and still able to do the job she agreed to do and provide the services she sold, then I agree that she should be sueing, and shouyld win. However, as she seems to be suing for sexual discrimination, I suspect she is grasping at straws.
So if I was a plummer and came round to fix her house, then said,
"sorry luv, the missus and me are having a kid/adopting a child, so Im off on paternity/carers leave. But dont even think of getting some one else in. you had better wait till i come back, pay me in full and while your at it, pay me for when I am not here as well". I wonder what the response would be. Sympathetic? I doubt it.

This is just a classic case of spoilt middleclass greed! she has had plenty of time to sort out thee debts, but wanted everyone else to lose out so she could keep her buy to let properties. She shuld have sold up long ago. good points above about Mr Begum, surely it is their debt and not just hers. I find it appallingly deceptive that this has been presented as evil banks taking unfair advantage of a poor downtrodden discriminated single mum. this is hardly the case. My advice. Sell up everything, payoff the boggeyman, downsize and use the change to reinvest and begin again, but learn from the outcome of your attempts this time. We all make mistakes and get things wrong, but the true test of character is wheteher we have the courage to admit to this and the growth personally from the experience.

BFS

Tuesday, August 15, 2006 09:40AM Report Comment
 

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