tbourner Posted October 8, 2008 Share Posted October 8, 2008 I doubt homeless people are affected by the credit crunch as much as me - I reckon they should be helping me out. If you take into account all my equity: House, car, mortgage and debts, I actually end up about £50k in the red, find me a homeless person with any more than £1k of debt!! I need more benefits than those dirty scroungers. Quote Link to comment Share on other sites More sharing options...
Charlotte Posted October 8, 2008 Share Posted October 8, 2008 If you take into account all my equity: House, car, mortgage and debts, I actually end up about £50k in the red, find me a homeless person with any more than £1k of debt!! I need more benefits than those dirty scroungers. So you're just a clean scrounger then..? Quote Link to comment Share on other sites More sharing options...
GazB Posted October 8, 2008 Share Posted October 8, 2008 I'm sure there'd be some that wouldn't mind cleaning your house and stuff whilst you're at work? Cleaning or emptying? Quote Link to comment Share on other sites More sharing options...
Lbm Posted October 8, 2008 Share Posted October 8, 2008 If you take into account all my equity: House, car, mortgage and debts, I actually end up about £50k in the red, find me a homeless person with any more than £1k of debt!! I need more benefits than those dirty scroungers. Perhaps...but I'd rather keep my debt than live in a doorway Quote Link to comment Share on other sites More sharing options...
tbourner Posted October 8, 2008 Share Posted October 8, 2008 So you're just a clean scrounger then..? I try and scrounge, but because we bring in 40k a year I don't get given anything, just told I shouldn't have borrowed so much (when I could), nothing said to the dolers saying they shouldn't have been dumbarses, and should have got a proper job! Perhaps...but I'd rather keep my debt than live in a doorway True. Quote Link to comment Share on other sites More sharing options...
Lbm Posted October 8, 2008 Share Posted October 8, 2008 I try and scrounge, but because we bring in 40k a year I don't get given anything, just told I shouldn't have borrowed so much (when I could), nothing said to the dolers saying they shouldn't have been dumbarses, and should have got a proper job! True. The other benefit of being *in debt* - you won't smell of p!ss...as much. Quote Link to comment Share on other sites More sharing options...
Charlotte Posted October 8, 2008 Share Posted October 8, 2008 I try and scrounge, but because we bring in 40k a year I don't get given anything, just told I shouldn't have borrowed so much (when I could), nothing said to the dolers saying they shouldn't have been dumbarses, and should have got a proper job! Although every post you make is a wind up I'll humour you. So what makes you think that homeless people start their lives as people on the dole? Have you ever wondered what might have if god forbid you and your girlfriend lost your jobs and your insurances didn't pay out, to cover all that debt? Does that mean I can make a sweeping generalisation about you being in debt and spending more than you earn and therefore being completely stupid? Quote Link to comment Share on other sites More sharing options...
Ark Posted October 8, 2008 Share Posted October 8, 2008 ...hopefully the cuts having been passed on to the end user. fingers crossed Richie Fat chance - the banks will hold on to the difference to try and scrape back some of their losses. Quote Link to comment Share on other sites More sharing options...
tbourner Posted October 8, 2008 Share Posted October 8, 2008 So what makes you think that homeless people start their lives as people on the dole? Have you ever wondered what might have if god forbid you and your girlfriend lost your jobs and your insurances didn't pay out, to cover all that debt? Actually, I probably mixed up homeless and dole signers in the same pot, which is a bit unfair, I know some people become homeless by accident. Unfortunately most do it by choice though. I think I'd do alright as a bum anyway, just depends if I could wipe my debt slate clean and start again - that'd be good. Does that mean I can make a sweeping generalisation about you being in debt and spending more than you earn and therefore being completely stupid? If you like, I think you'd have probably made that decision about me by now anyway! I'll be the first to admit I was an idiot borrowing too much, bad timing mostly, I did it when I was at home and could easily afford it, when we moved out the 'can afford it' line went a hell of a lot closer to the 'in the sh1t' line!! Quote Link to comment Share on other sites More sharing options...
JamieP Posted October 8, 2008 Share Posted October 8, 2008 If you take into account all my equity: House, car, mortgage and debts, I actually end up about £50k in the red, find me a homeless person with any more than £1k of debt!! I need more benefits than those dirty scroungers. After selling up everything you are 50k in debt? Quote Link to comment Share on other sites More sharing options...
tbourner Posted October 8, 2008 Share Posted October 8, 2008 After selling up everything you are 50k in debt? I would be something like that yeah. Quote Link to comment Share on other sites More sharing options...
Snooze Posted October 8, 2008 Share Posted October 8, 2008 Wouldn't worry about the debt too much - I'm planning to take on as much debt as possible over the next couple of years if they keep dropping the interest rate like this. Quote Link to comment Share on other sites More sharing options...
tbourner Posted October 8, 2008 Share Posted October 8, 2008 Wouldn't worry about the debt too much I'm not too worried, I'd hope if it got bad I'd not be too proud to get help, and if it got worse than that I've got the skills to find some kind of work, and hopefully the friends to help me out as well. At the mo I can afford it, just wish someone would give me some part time work!! Evenings and weekends free doing housework when I could be earning!! Quote Link to comment Share on other sites More sharing options...
Havard Posted October 8, 2008 Share Posted October 8, 2008 I pay my last mortgage payment on the 30th november and i want interest rates to go sky high now to boost my savings:d Well said JamieP. I have savings and want more interest...... Then I can walk with my head held high and urinate on all the peasants...... H. Quote Link to comment Share on other sites More sharing options...
Soop Dogg Posted October 8, 2008 Share Posted October 8, 2008 When the markets are so volatile, it's one of those rare occasions when are fair amount of cash can be made very quickly - the trick at the moment though, is finding a company that isn't likely to go bust in the next few days. I have to admit to spending a few grand this week on cheap shares! (Now crossing my fingers) Quote Link to comment Share on other sites More sharing options...
Pete Posted October 8, 2008 Share Posted October 8, 2008 Very surprising (to me anyway) BoE cut rates by.5%! I thought they were threatening to increase rates. Smacks of desperation but is good for me as I'm re-mortgaging currently. You don't keep your ear to the ground in financial circles then. I thought was happening tomorrow though. Quote Link to comment Share on other sites More sharing options...
Havard Posted October 8, 2008 Share Posted October 8, 2008 When the markets are so volatile, it's one of those rare occasions when are fair amount of cash can be made very quickly - the trick at the moment though, is finding a company that isn't likely to go bust in the next few days. I have to admit to spending a few grand this week on cheap shares! (Now crossing my fingers) Thats a risky business at the moment mate. I thought about it but it seems like very few are making money. Maybe invest in a receiver or insolvency company.... H. Quote Link to comment Share on other sites More sharing options...
ivan Posted October 8, 2008 Share Posted October 8, 2008 I'm sure there'd be some that wouldn't mind cleaning out your house of stuff whilst you're at work? No doubt Quote Link to comment Share on other sites More sharing options...
DaveK Posted October 9, 2008 Share Posted October 9, 2008 Thats a risky business at the moment mate. I thought about it but it seems like very few are making money. Maybe invest in a receiver or insolvency company.... H. I thought about it too. If I'd stuck money in HBOS at the right time, I think I could have made 25% over night. But I decided I've spent too much on my house this year (and hi-fi!) and it would be a pain if I got it wrong. Quote Link to comment Share on other sites More sharing options...
tbourner Posted October 9, 2008 Share Posted October 9, 2008 Maybe we should just nationalise everything, create a free society with no division or alienation, where mankind is free from oppression and scarcity. A society with no governments, countries, or class divisions. Wouldn't that be nice! Quote Link to comment Share on other sites More sharing options...
JamieP Posted October 9, 2008 Share Posted October 9, 2008 I would be something like that yeah. Blimey, Not worth going bankrupt (not sure how it works) and starting again? Quote Link to comment Share on other sites More sharing options...
tbourner Posted October 9, 2008 Share Posted October 9, 2008 Blimey, Not worth going bankrupt (not sure how it works) and starting again? Not really, the best plan is to take the chance and try to survive. We can afford all the payments so we're not being chased at the moment, as long as things don't get any worse (assuming we can't find any part time jobs - still looking). We could go for an IVA or bancruptcy but it'd most likely mean selling the house, which is now worth less than we paid, so it's a better idea to wait and hope the market picks up - fixed rate for another 3 years should help as well. Quote Link to comment Share on other sites More sharing options...
The Raven Posted October 9, 2008 Share Posted October 9, 2008 The rate cuts good for me. I save some £80 a month but then lose it half of that in interest payments from the bank. Still better than nothing and with more cuts on the way things might start picking up. Or it will mean more people burrow then when the rates go up again they will have screwed everyone over even harder. Quote Link to comment Share on other sites More sharing options...
Snooze Posted October 9, 2008 Share Posted October 9, 2008 Thats a risky business at the moment mate. I thought about it but it seems like very few are making money. Maybe invest in a receiver or insolvency company.... H. Crikey, yes - investing at the moment could get you a bucket (like the HBOS spike), but it really is the stockmarket equivalent of "put it all on red"! Quote Link to comment Share on other sites More sharing options...
Snooze Posted October 9, 2008 Share Posted October 9, 2008 Blimey, Not worth going bankrupt (not sure how it works) and starting again? Surely not, this is just property-investment negative equity. It's nothing that the UK hasn't seen before. As long as you can continue to afford your monthly payments to service your debt, it really isn't an issue. The only downside is that if you need to move house during the slump, you may have a slightly harder time getting a mortgage, and you may even have to take a step back down the property ladder rather than up. It really isn't a major problem unless you lose your job. It's the loss of income that's the cause of all these shock "being thrown out on the street" stories. Those people who simply can't afford the mortgage repayments on the house that they over-stretched for can just sell up (swallowing the negative equity in their new mortgage) and move to a smaller, place. -------- If I were a "saver" (rather than being one of those with a massive mortgage), I would be slightly concerned about the drop in the interest rate. Not because you might lose out on that extra few quid a month, but because if this trend continues, we are at serious risk of triggering hyperinflation within a few years time (with my cynical hat on - just long enough for senior banks, politicians and cronies to shift their assets to more stable holdings - Yen or Dong, anyone?), and all your savings could rapidly become worthless. Quote Link to comment Share on other sites More sharing options...
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