View Full Version : Bankruptcy And Debt.
Sparrow
03-11-06, 10:35 PM
http://news.bbc.co.uk/1/hi/business/6110722.stm
Has anybody seen on the news today about personnal debt and the number of bankruptcies getting higher and higher?
We have had problems with debt over the years - we are nearly straight but not quite :( .
According to some of the papers house repossessions are on the increase too. it makes you wonder whether we are heading for another recession.
sparrow
I know... I had a lot of debt some 6 years back but I cleared them and I was sensible with the one CC I kept. However being off work sick this past few months I have been spending money again, shopping online etc and slowly I have ran up some debts, not as much as last time but enough to make me sit up and think to myself, this stops now, spending to cheer myself up because I am depressed is not going to help me in the long run so I stopped and now I am working to a strict budget to clear the debts I have made....
Sparrow
03-11-06, 10:55 PM
Hi toots
What amazes me is how much and how quickly people can get into debt. We got into debt because we had a credit card and a loan to buy a car cos we were both working but then when I was pregnant I had to finish work earlier than we expected because I was very ill during my first pregnancy and then mr sparrow lost his job. And it was a good six months before he got a "proper" job again. He was bitting and bobbing for a mate but that only kept us going for the every day things.
I think credit is too easily available - on watchdog the other night they did a piece on one of these companies that offer IVAs - some of these people were £40k plus in debt from just credit cards and loans :bigeyes:
sparrow