www.iva.co.uk

this is going to sound ridiculous - before you read it, believe me its tru.

i work in a good business and i have a good job. one of my customers has gone into administration and is saying he is going to go BR. My colleague enquired abiut the overall debt as our business is going to become a creditor to the tune of about £1800.

my colleague came round to my desk with a grin ear to ear and asked me 'how brilliant is this...? XXXXX (Client name) is going BR cos he owes... wait for it... 12 million quid.
two things -how the hell do you get in THAT much debt?and my point with this posting - why would my colleague think this is so 'brilliant'?
i never understood debt before my impending IVA, and i wonder if i am alone in this?

How anyone can think someone going BR, for whatever amount, is brilliant is beyond me.

Presumably the banks thought your customer was a good bet at the time. Don't suppose they are too happy now though!

I don't think any of us paid much attention to debt. If out shopping, it wasn't really spending money when I flashed the plastic - that was the way I justified it. I didn't realise just how much debt I was in until it was too late.

I am being extra careful with the pennies now, and will continue to do so once my IVA has finished.

I suppose it's all relative ... businesses deal with huge amounts of money. In such cases it's really just Monopoly money ... figures on a spreadsheet.

Debbie

some people who have no debt, don't understand what it does to peoples lives.. one of my closest friends is always calling people for getting into debt and credit cards etc.. needless to say she knows nothing about my situation.. I just remind her that not everyone has fell in c**p and come up smelling of roses. She forgets she was once a single parent who married a man who works away with a good job, and bought there council house for coppers!!

I used to work for an IP dealing with administration of IVA's and bankruptcy estates. I could never understand how people could get into debt. I was only 20 at the time and spent everything I earned and if I didn't have the money, I couldn't have it. I never would have thought 10 years later I would be in an IVA myself! My debt is totally of my own making, living beyond my means. I have learned my lesson and I have done something about it! I will never ever go down the borrowing route again!

Going bankrupt to the tune of £12 million would only be brilliant if it was Tony Blair or John Prescott. I'll get my coat...