OVERDONE THE CREDIT? UP TO YOUR CREDIT LIMIT? THORT YOU HAD THE BEST CREDIT CARD ON EARTH? IS CREDIT A GIFT OR ... ? SMALL BUSINESS CREDIT OVERLOAD, STUDENTS WITH CREDIT CARDS.. WHAT IS THE BEST CREDIT CARD? IT's NO CREDIT CARD AT ALL! At the end of the day credit can only bring disaster, credit must be repaid, but at what price. Overdo the credit and you risk losing everything. Here are people's true stories of how they lost everything because of credit that couldn't afford to be repaid. The bailiffs will find you, you can't move to another country and evade your credit bill. Credit bills follow you like a bad stench. The best credit card on earth... is NO credit card, rip up your credit cards, shred your credit cards, burn your credit cards, before it's too late for you and your family!
Your personal bankruptcy nightmares! Does personal bankruptcy follow you abroad? Can you ever open another business once made bankrupt? Are all those tempting financial adverts to blame for personal bankruptcy? Can you ever get away from the stigma of personal bankruptcy? Bankruptcy and repossession can they sieze and take personal items or belongings Can the bailiffs sieze my Pension Fund, TV, wife, children?
These just some of the questions that have been asked regarding the nightmare stories of bankruptcy. How on earth do you ever recover from bankruptcy, to all the people I've come into contact with that were made bankrupt, they all tell the same story, there is no recovery from bankruptcy! People have tried to re-open a business, tried to open bank accounts, even after the initial bankruptcy has been settled and is years in the past, it follows you, even into another country within the EU it follows you like a bad stench. When the bailiffs come and sieze your personal goods, they sieze your entire life and being a close witness to the bailiffs siezing goods, it is an extremely upsetting time of your life. It dosn't matter to them that the teddy bear was yours since childhood, they are there to do their job. Their job? To sieze everything from you.
Get professional help before you get into a bad situation, before the bailiffs come, professional help may cost you money that you don't have right now, but in the long term, it could save a lot of heartache.
i was made personally and professionally bankrupt almost a decade ago. I ran a taxi business and was found to be responsible for every taxi drivers tax and national insurance. Not one taxi driver working at the station had paid their own tax and had taken all their money without deductions. The immediate effect was on my family, my wife and four children. The family home was repossessed and the company closed down. I was lucky to come out of this black hole with my four children and was rehomed by the local housing association.
The long term effect of my sordid past, is that I cannot get a loan, a mortgage, open a new business, in fact I am stumped even though the bankruptcy has been satisfied after the many years.
I am over 50 years old, and during the repossession my pension fund was also siezed, leaving me without a pension fund.
Bad health naturally followed and after a few years of not much work, I now work in a warehouse without any possibility of ever getting back on my feet again.
My credit rating seems blurred forever and my hope in everything gone.
This bankruptcy should be in the past - the fact is that the bankruptcy is my future, I cannot seem to get back onto my feet and now have all those daily bills pilling up, things like council tax and even the TV license people threaten me often, getting behind with the council tax who have now decided that they will take my household goods plus charge me for repossession of them and even threats of taking me to prison for non payment. Do I owe a fortune on this tax? I owe around £800. It might as well be 8 million, soon they will come to take furniture and perhaps even to take me! The latest threat! I cannot get a loan to help pay off this £800 and spread it over, my past is my present, I must live with it.
Bankruptcy is never in the past... it lingers like bad odour
With bankruptcy figures rising, it's frightening to see every other advert on TV advertising loans and daily sales that are only on till tomorow, with credit available, I even noticed one advert where the guy boasts that he could never have afforded the advertised product without that special loan to help him buy it!
Bankruptcy is obviously never in your past - buyers beware!
Although Bankrupt's story is a more unusual and very sad bankruptcy story, I've had many mails sent to me from people enticed by these adverts on TV into buying on credit something they would never have considered if they had not been able to get that very special loan.
Your bankruptcy story is welcome here, get it off your treasure chest.
apparently if Bankrupt had been given the time and luxury of selling his house as opposed to being repossessed, he would have had plenty of money to pay all the tax require and come out without the bankruptcy and repossession, the sale of his house, in a prime location would have helped him rebuild his life.
A sale was achieved by auction and the house converted into two individual flats and sold for an extremely large profit!
How about making these actions illegal in themselves? People in trouble should be given every opportunity to offer their house for sale in order to satisfy their debts.
And how on earth they are legally able to take your pension away from you
The TV adverts so happily and tunefully entice you into more and more trouble, it's quite a different story when you finally realise it was out of your financial league in the first place!
Oooh that's much less than we're paying now... £25000 loan plus a mortgage... i smell trouble coming!
yes Bankruptcy does follow you abroad if you wish to open or start a new business.
For instance in Bulgaria (one of the latest full EU members) one of the questions they ask when opening a business is have you ever been bankrupt.
Without a business in Bulgaria, you cannot buy land houses and a lot of minor things such as a certified copy of Windows XP!
I'm unsure about the legal requirements in Greece, but a business is almost impossible to start up in Greece anyhows so its no loss!
A bankrupt who fled to outside the EU informed me he had opened a business without his bankruptcy following him there and without being asked any questions regarding UK bankruptcy! But perhaps thats a tall measure and a tad unsafe to leave the 'safety' of the EU?
So if there are any other people out there who have left the UK and their bankruptcy stigma behind successfully, let us all know how you did it eh!
Personal and business bankruptcy does follow you abroad
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