So Gordon Brown and Alistair Darling are promising to bail out all those with massive mortgages, living a celebrity lifestyle on a civilian salary.
Banks are being pressured or are admitting they've made mistakes, repossession amnesty is being bandied around, the list of aid ideas to help the non savers and over spenders goes on.
Don't get me wrong, I borrowed to buy a modest property, but was made redundant, and lived for a year on the proceeds of my house sale and posh car to support my family and try and start again. Didn't claim income support or housing benefit, I was too proud. A year later the money dried up, more money started to build on the credit cards, and the banks were only too happy to lend. In time two thousand pounds become thirty thousand pounds at seventeen percent interest. This was three years ago, when I was in the minority.
When I did turn to Barclays and so on for help, they couldn’t off been less helpful, which is now why I'm rolling my eyes at news every day when I hear about the latest economic bail out proposals for consumers.
Like I say, not bitter, and to add one more fly into the ointment my IP are now offering far less support for my family and I now that times are getting tough for us again.
Last edited by johnt on Mon Dec 22, 2008 12:01 am, edited 1 time in total.
Explain what you mean by your IP now offering far less support?
Regards, David Mond, Insolvency Practitioner for over 46 years. Personal Insolvency Practitioner of the year 2012, Personal Insolvency Practitioner of the year finalist 2013 & 2014 awarded by Insolvency & Rescue Magazine and 2015 finalist for Personal Insolvency Firm of the Year.
David Mond wrote:
Explain what you mean by your IP now offering far less support?
Hi David
We've been forced into moving recently and now were faced with a much higher monthly outgoing on our new rent, our IP seems unwilling to do anymore than extend the duration of our IVA. Here's a link to a post I made about this.
It would be sensible to try and discuss this directly with your IP rather than a member of his staff, to ensure that he fully understands your position and is able to explain why he does not feel a payment reduction is warranted at this moment in time.
'Consumer bail out' is illusory and people are simply mortgaging their future earnings - its not a write off of any ££ obligations, infact a gross DMP deferrer plan for you to PAY LATER, whether it is home loan interest deferrer or any other payment holiday.
Paying longer and later are not bail outs -an IVA or 'orderly' bankruptcy protection is a Bale out.
The tax payers are also writing postdated 'bale out'cheques from their future earnings[tax, NI increase] for companies like NR,RBS, Bradford and Bingley etc and firm JL'Rover which this country DON'T EVEN OWN anymore into 2015 at least.
THE WORLD IS IN EFFECT INSOLVENT except China and the UAE. Yes, where has all the money gone???
I am sure John Fairhurst at PayPlan will be reviewing this.
Regards, David Mond, Insolvency Practitioner for over 46 years. Personal Insolvency Practitioner of the year 2012, Personal Insolvency Practitioner of the year finalist 2013 & 2014 awarded by Insolvency & Rescue Magazine and 2015 finalist for Personal Insolvency Firm of the Year.
