BR will strip any assets she has and if she loses her job, for all of her "don't care" attitude, with the tight benefits, she will not be laughing in 6 months.
BR should be easily available as otherwise the those who need it won't be able to access it.
Creditors are also to blame if they are still funding these type of lifestyles to people that cannot afford it.
You make a valid point there Mole. Creditors should really be a bit more switched on to the clients ability to pay back.
I was sorting some old paperwork out the other day and did a little calculation. Just before I went into my IVA, owing 18k unsecured, plus re-mortgages and a secured consolidation loan, I still had over 30k of available credit on plastic! Now I was struggling to live month by month without taking out payday loans, but I could still have gone out and bought a brand new car, had a fitted kitchen, new tv..........
Personally, glad to be in an IVA, have thought about BR but will do my best to complete the IVA and feel I have already learned a valuable lesson.
That is exactly my point. I have learnt a valuable lesson from my IVA but what will she learn exactly? She is not even 30 i would put money on her going BR again in the future. Despite what any of you say it is too easy for people who are not bothered about owning their own home, stigma e.t.c for people who just want to be able to spend lots of money and have their debts wiped it is too easy! Im not saying anything against anyone who has genuinely had no other choice but to go BR im talking about people who look upon it as an easy way out and no big deal! The only thing she has had to give back is the car, she still house a house full of I pads, x boxes, far more than my children have (not that i would want them to have all that stuff anyway) and she wont lose this stuff so what exactly is she learning?
The thing is, what does it matter? I am struggling to understand why you are so enraged and interested in how your friend lives her life? At the end of the day, if she goes bankrupt and starts afresh and somehow manages to afford all these things (which is doubtful) why does it bother you so much? Just live your own life and forget about what others do with theirs
josu - we understand what you are saying and we are not all missing your point. People outside of an IVA can have the same attitude towards people considering an IVA as you do to this person's attitude to BR. Are you angry at the person for their immature, reckless attitude or the fact the BR seems easy - which it isn't.
I guess i thought this forum was for discussing opinions on IVAs and BRs. I do my best to answer helpfully when people ask questions i was simply asking my own. In this case it is easy for her, she has told me so its not just my opinion and i just wanted to point out that it shouldnt be so. Its not like it has affected my everyday life or that i am boiling with rage but like i said, isn't this a forum, isnt this the point? Ask questions, share opinions!
But you don't know it's going to be easy for her!!! She will probably lose her car, there is a chance (albeit a slim one) that the OR will claim the iPads etc as assets, she may lose her job (and I bet she would care when she was on benefits) and how do you know the friend she rents from will be happy to have her living there once they have been notifed that she is BR?
Just for arguments sake and because i know the answers to all those questions, she has already given the car back and couldnt care less, she just bought a run around instead, she has already been told she will not have to give up any belongings and in fact no one will even come to the house, she really doesnt care about her job and is always off sick, she really would love an excuse not to work and live on benefits and she has already informed her landlord who has told her as long as she continues to pay every month he is not interested. So you see, in this case it really is too easy and thats the only point i was making, it really shouldnt be for this kind of situation! I do appreciate people taking their time to comment but i think people were misunderstanding me and thinking i am some sort of angry bitter person which im not. Like you say it really doesnt affect me i just thought i would have a little rant on here!!!
It seems more of a case that she really doesn't let it bother her rather than bankruptcy being too easy, for me I would be upset beyond belief if I had to hand my car back, lose my job and my home etc, but I am a worrier, some people aren't and good on them I say.
One of the reasons I continue and wish to complete my IVA is to give my growing children a sense of stability and an understanding that working hard has it's merits, something which BR may not give.
So your friend feels content allowing her children to be brought up on benefits after going through BR, rather than working through an IVA with her creditors?
I don't think you should look on with anger or rage but pity the poor woman and her children!
If her life has been spend, spend ,spend on credit, she will get a rude awakening, with no job, and no access for to credit for 6 years she wont be buying to many ipads, cars and holidays on todays benefits. One way or another it will impact her life.
It is very interesting to read the differing opinions on this thread - all of which are extremely valid. Some people will feel responsible about repaying their creditors, and others will feel less so. Bankruptcy is never as easy as people may think at first hand - as at best it is an inconvenience and does have long term effects in terms of credit repair.
