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Is It Right.....
68 Answers
....to purposely not pay back loans and debts?
This has been touched upon in a few threads now, but i want to know why some people seem to think that it's ok not to pay back substatial debts owed to a number of companies?
Sure, we'd all like to be given money and not have to pay anything back to anyone, or not to get taxed on it, but the facts are that if you borrow cash from a lender, you HAVE to pay it back.
I am bewildered as to why some people on here think that they dont have to or that what i am saying about the scenario is wrong!
Your thoughts please.....
This has been touched upon in a few threads now, but i want to know why some people seem to think that it's ok not to pay back substatial debts owed to a number of companies?
Sure, we'd all like to be given money and not have to pay anything back to anyone, or not to get taxed on it, but the facts are that if you borrow cash from a lender, you HAVE to pay it back.
I am bewildered as to why some people on here think that they dont have to or that what i am saying about the scenario is wrong!
Your thoughts please.....
Answers
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To my way of thinking it is theft.
In my business image was everything - lose customer confidence and the business would have been finished, so getting the debts paid was a minefield. If I wasn't paid, I couldn't pay my staff, my suppliers. Thankfully it never came to that, but people do suffer when debts aren't paid.
In today's society many people seem to know and understand their rights -and demand them but forget their responsibilities.
Years ago my local corner shop used to put a sign in the window - Mrs X, don't forget to pay your bill. :) Mrx X would be shamed into paying pretty quick.
In my business image was everything - lose customer confidence and the business would have been finished, so getting the debts paid was a minefield. If I wasn't paid, I couldn't pay my staff, my suppliers. Thankfully it never came to that, but people do suffer when debts aren't paid.
In today's society many people seem to know and understand their rights -and demand them but forget their responsibilities.
Years ago my local corner shop used to put a sign in the window - Mrs X, don't forget to pay your bill. :) Mrx X would be shamed into paying pretty quick.
the government is allowing people to do it with those IVAs, so we shall find it becoming more common soon.
my own opinion is that you should always pay the money back but i dont agree that if you are in serious financial trouble that such ridiculously high interest rates should compound the problem. freeze the rates to just over base rate and perhaps people wouldnt feel the need to try and get away with it.
my own opinion is that you should always pay the money back but i dont agree that if you are in serious financial trouble that such ridiculously high interest rates should compound the problem. freeze the rates to just over base rate and perhaps people wouldnt feel the need to try and get away with it.
Me and my husband have worked hard to combine our debts and pay them off and have sucked it up and dealt with it as we spent the money and know our responsibilities!
My sister on the other hand doesn't give a monkeys and has debts up to her eyeballs that she doesn�t bother paying back (she had advice to set up an agreement to pay �2 a month off until she could pay more) So she's laughing!
I get so angry at this as me and hubby have two children to provide for and work hard, she works hard too but her wage is for her enjoyment! Not for paying back what she owes!
Makes me think why I bother!!!!
My sister on the other hand doesn't give a monkeys and has debts up to her eyeballs that she doesn�t bother paying back (she had advice to set up an agreement to pay �2 a month off until she could pay more) So she's laughing!
I get so angry at this as me and hubby have two children to provide for and work hard, she works hard too but her wage is for her enjoyment! Not for paying back what she owes!
Makes me think why I bother!!!!
I have debts (courtesy of a younger and ******** China Doll who if it were possible to time travel I would go back and try and give her a sound kick up the a55) which I am managiing. It's a struggle and the person I was then is nothing like the person I am now so I'm annoyed with myself but if I did not try to pay them back then I would feel ashamed of myself and be constantly looking over my shoulder waiting for them to catch up. It's also not right should I ever get married and wish to buy a house or something with a significant other, if I shirked my responsibilites then inevitably things like that would take a significant bite out or my ar$e in the future to my way of thinking.
I can't have an IVA because I don't owe enough and declaring bankrupcy isn't advised because of the amount I owe. While in the great scheme of things, it really isn't that much in comparrison I maintain that at one point it might have been a million pounds as it seemed that far out to try and pay it back and it made me miserable. So I contacted a company who put me on a debt management plan and I feel much better about things. I'm paying back the money and I think in the long run, this way will work out much better than hiding from the problem.
I can't have an IVA because I don't owe enough and declaring bankrupcy isn't advised because of the amount I owe. While in the great scheme of things, it really isn't that much in comparrison I maintain that at one point it might have been a million pounds as it seemed that far out to try and pay it back and it made me miserable. So I contacted a company who put me on a debt management plan and I feel much better about things. I'm paying back the money and I think in the long run, this way will work out much better than hiding from the problem.
Andrea, my sister is the very same, she didnt manage to evade the Council Tax bill tho which had stretched back to when it was Poll Tax and I actually laughed. Served her right but as she has no money, loans were actually dropped and she got off scott free ! I have no respect for her whatsoever. She is ignorant and only out for herself in life.
I have been lucky (and wise) I have no debts, it is something I am terrified of.
I have been lucky (and wise) I have no debts, it is something I am terrified of.
Tax is paid to maintain this country unfortunately I think a hell of a lot of it is wasted on doll blaggers and benefits fraudsters. In my opinion the system needs to be scrapped and replaced with a new one which won�t let people sit on it for the long term without doing anything.
Loans & Credit... my view is that they should be obtained honestly and paid back. its all the people who don�t pay back there borrowed money that have made it so difficult for young people like myself to get credit for mortgages and credit cards. I�m going through a process of paying back a loan I didn't need to try and raise my credit rating so that I will even be considered for a mortgage... apparently having no debt and no credit cards means i'm to risky to lend money to.
Loans & Credit... my view is that they should be obtained honestly and paid back. its all the people who don�t pay back there borrowed money that have made it so difficult for young people like myself to get credit for mortgages and credit cards. I�m going through a process of paying back a loan I didn't need to try and raise my credit rating so that I will even be considered for a mortgage... apparently having no debt and no credit cards means i'm to risky to lend money to.
I think it was well covered the other day by my Q.
http://www.theanswerbank.co.uk/ChatterBank/Que stion579431.html
http://www.theanswerbank.co.uk/ChatterBank/Que stion579431.html
The common theme in this thread is that we all have financial responsibilities that we'd rather not have. Of course we don't want to be in debt.
If any of us were in a position to have an IVA or declare ourselves bankrupt, the fact of the matter is that we're taking responsibility in one way or another and we're not just telling our creditors that we're left the Country and that is what has MrBounty up in arms, along with the couldn't give a monkeys about it, not the debt itself.
MrBounty, you have had your say and we all know how you feel about it, but continuing arguments throughout the site is not going to force anyone to open their mind or accept the responsibility to sort it out. Can we have our nice site back now, please?
If any of us were in a position to have an IVA or declare ourselves bankrupt, the fact of the matter is that we're taking responsibility in one way or another and we're not just telling our creditors that we're left the Country and that is what has MrBounty up in arms, along with the couldn't give a monkeys about it, not the debt itself.
MrBounty, you have had your say and we all know how you feel about it, but continuing arguments throughout the site is not going to force anyone to open their mind or accept the responsibility to sort it out. Can we have our nice site back now, please?
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