ludditeman Posted January 3, 2012 Share Posted January 3, 2012 Just pay your bills , no problem then , live with in your means. not on the never never , Maybe the way i was Taught when i was growing up by my Parents. now It seems parents buy things to shut Kidd's up , comfort buying , the kids do not understand , you get nothing for Free in life. I always thought that too, until the divorce, when they taught me everything I thought I owed was hers. And everything that was on credit was mine. If only I had everything on credit and cash in the bank, I would have still been a millionaire today. Link to comment Share on other sites More sharing options...
theoldgit Posted January 3, 2012 Share Posted January 3, 2012 (edited) I think now they can attach some thing to your mortgage, if you sell they can take what you owe them , They don't actually attach to your mortgage, they can apply to put a charge on your home which means they get first bite, or second bite if you have a mortgage, in the event that you sell your house, that turns an unsecured debt into a secured one, that's what you seem to be referring to. They cannot just do it at their whim, first of all they have to get a County Court Judgement for the repayment of the debt, then you have to default on the CCJ, they then apply for an interim Charging Order, then it goes to a full court hearing. In extreme circumstances they could force the sale of your home. As I have said before, a creditor cannot obtain a CCJ against somebody who lives overseas, some people don't accept this, but it's a fact. If a creditor obtains a CCJ using an old address the respondent can apply to have the CCJ set aside, it then goes back to square one. A UK debt cannot be heard in a Thai court by the original creditor as there are no reciprocal agreements, but what they could do is sell a debt to a Thai debt broker who could then take a debtor to court in Thailand, but it would need to be heard under UK law, and I doubt very much if that would happen. I agree with the posters who say a person should try to honour their debts and talk to the creditor, though I would not criticise people who have fallen on hard times or plans have gone to pot. However for those who brag about doing credit card companies for thousands of pounds, I think they are bordering on the criminal. Edited January 3, 2012 by theoldgit Link to comment Share on other sites More sharing options...
autan Posted January 3, 2012 Share Posted January 3, 2012 How does the credit rating work, because I have no credit rating, i have never had any Credit, I own my own House and have never had credit, So why can i not get Credit. A kindred spirit to myself. My credit rating in the UK is 127 out of 1000 according to checkmyfile.com Apparently you get 100 points for just being on the electoral register and up to 50 points depending on your area. I own my own house outright, no mortgage, my car belongs to my company. The company has no debts at least none over £100 at any one rolling period. I have prepaid cards and a very understanding bank with whom, I have an excellent arrangement. The only way I can increase my credit score is to take on debts, I dont need and pay them back slowly and on time, rather than in full every month. I have no problem with people taking out debts and not repaying them. The take the risk when they lend the money, they are rewarded for this risk in interest if the investment pays off, its the moral hazard of banks expecting the taxpayer to take the hit, when the investment looks sour. Bank should not be bailed out, if they fail, thanks for playing, do not pass go and do not collect £200. Link to comment Share on other sites More sharing options...
autan Posted January 3, 2012 Share Posted January 3, 2012 I think now they can attach some thing to your mortgage, if you sell they can take what you owe them , They don't actually attach to your mortgage, they can apply to put a charge on your home which means they get first bite, or second bite if you have a mortgage, in the event that you sell your house, that turns an unsecured debt into a secured one, that's what you seem to be referring to. They cannot just do it at their whim, first of all they have to get a County Court Judgement for the repayment of the debt, then you have to default on the CCJ, they then apply for an interim Charging Order, then it goes to a full court hearing. In extreme circumstances they could force the sale of your home. As I have said before, a creditor cannot obtain a CCJ against somebody who lives overseas, some people don't accept this, but it's a fact. If a creditor obtains a CCJ using an old address the respondent can apply to have the CCJ set aside, it then goes back to square one. A UK debt cannot be heard in a Thai court by the original creditor as there are no reciprocal agreements, but what they could do is sell a debt to a Thai debt broker who could then take a debtor to court in Thailand, but it would need to be heard under UK law, and I doubt very much if that would happen. I agree with the posters who say a person should try to honour their debts and talk to the creditor, though I would not criticise people who have fallen on hard times or plans have gone to pot. However for those who brag about doing credit card companies for thousands of pounds, I think they are bordering on the criminal. Agreed, imagine the reverse, it would be like having a thai law read out in a Country Court in the UK. As courts are extensions of the law and monarchies (in UK & Thailand), then it is inconceivable that a foreign monarch's law would be heard in each others court rooms. Scratch that. Sharia law is being considered in the UK. So who knows what the future might bring. Link to comment Share on other sites More sharing options...
roamer Posted January 3, 2012 Share Posted January 3, 2012 Posts #93 and #94 show why the world has gone to rat shit. Absolutely no shame in stealing this money. Please don't claim you were only defrauding a big bank - you are not, other people pay in the end through higher bank charges and interest rates. I doubt either poster would take the same view to walking into a 7/11 and taking money out of the till. What they have done is the same act of theft. One can see why Thai banks only issue credit cards to Farangs with cash cover. +1 Only deadbeats and scum skip-out of their responsibilities. Agreed .That Phillip Green of TopShop fame, really gets my goat watching him sunning himself on his yacht in Monte Carlo whilst avoiding/evading his Uk taxes. As for Rupert Murdoch, well that's a slimeball whose NewsCorp has managed to avoid payment of hundreds of millions. I could go on, probably to the tune of at least £25 billion. Guess those were not the type of scum you were referring to though were they ? Link to comment Share on other sites More sharing options...
patongster Posted January 4, 2012 Share Posted January 4, 2012 Posts #93 and #94 show why the world has gone to rat shit. Absolutely no shame in stealing this money. Please don't claim you were only defrauding a big bank - you are not, other people pay in the end through higher bank charges and interest rates. I doubt either poster would take the same view to walking into a 7/11 and taking money out of the till. What they have done is the same act of theft. One can see why Thai banks only issue credit cards to Farangs with cash cover. +1 Only deadbeats and scum skip-out of their responsibilities. Funny stuff, small minded stuff. The banks are the ones screwing everyone. 1 Link to comment Share on other sites More sharing options...
jackr Posted January 4, 2012 Share Posted January 4, 2012 The banks do their thing and screw people, but those who don't repay their debts are scabs. Sort your shit out. Link to comment Share on other sites More sharing options...
StreetCowboy Posted January 4, 2012 Share Posted January 4, 2012 Posts #93 and #94 show why the world has gone to rat shit. Absolutely no shame in stealing this money. Please don't claim you were only defrauding a big bank - you are not, other people pay in the end through higher bank charges and interest rates. I doubt either poster would take the same view to walking into a 7/11 and taking money out of the till. What they have done is the same act of theft. One can see why Thai banks only issue credit cards to Farangs with cash cover. +1 Only deadbeats and scum skip-out of their responsibilities. Funny stuff, small minded stuff. The banks are the ones screwing everyone. I don't feel like I have been screwed by the banks. I've borrowed money to buy an apartment at an attractive rate of interest, and I'm paying it back. They charge fees for services like transferring money from one country to another, and if they provide a better, cheaper service, I use my bank; alternatively I use Western Union. They facilitate my trade with strangers, and they have never really let me down. I can't comment on others' relationships with banks. SOmetimes I get a little frustrated, but that is true of most organisations that I do business with. I don't feel entitled to steal from the banks, any more than I feel entitled to steal from any of the other parties I do business with. If I did, the first thing I think I would do is stop doing business with them. You can't really lump all banks together; they work in a very competitive industry, and if you are unhappy with your bank, you can choose another. If you are unhappy with the way your government has treated the banks, you can choose another. SC Link to comment Share on other sites More sharing options...
KRS1 Posted January 5, 2012 Share Posted January 5, 2012 Posts #93 and #94 show why the world has gone to rat shit. Absolutely no shame in stealing this money. Please don't claim you were only defrauding a big bank - you are not, other people pay in the end through higher bank charges and interest rates. I doubt either poster would take the same view to walking into a 7/11 and taking money out of the till. What they have done is the same act of theft. One can see why Thai banks only issue credit cards to Farangs with cash cover. +1 Only deadbeats and scum skip-out of their responsibilities. Funny stuff, small minded stuff. The banks are the ones screwing everyone. I don't feel like I have been screwed by the banks. I've borrowed money to buy an apartment at an attractive rate of interest, and I'm paying it back. They charge fees for services like transferring money from one country to another, and if they provide a better, cheaper service, I use my bank; alternatively I use Western Union. They facilitate my trade with strangers, and they have never really let me down. I can't comment on others' relationships with banks. SOmetimes I get a little frustrated, but that is true of most organisations that I do business with. I don't feel entitled to steal from the banks, any more than I feel entitled to steal from any of the other parties I do business with. If I did, the first thing I think I would do is stop doing business with them. You can't really lump all banks together; they work in a very competitive industry, and if you are unhappy with your bank, you can choose another. If you are unhappy with the way your government has treated the banks, you can choose another. SC Sure your not feeling screwed by your bank? At half the life of your mortgage, you will not have even have paid off 25% of the principle - its all interest in the beginning. You can pay your mortgage for 10 years, then miss 3 payments and they will take your house. Even after the initial cost of the house has already been paid back, but they call that interest. Its all smiles and rainbows until you fall on hard times, then its <deleted> and elbows for them Sound fair? Link to comment Share on other sites More sharing options...
StreetCowboy Posted January 5, 2012 Share Posted January 5, 2012 ... Sure your not feeling screwed by your bank? At half the life of your mortgage, you will not have even have paid off 25% of the principle - its all interest in the beginning. You can pay your mortgage for 10 years, then miss 3 payments and they will take your house. Even after the initial cost of the house has already been paid back, but they call that interest. Its all smiles and rainbows until you fall on hard times, then its <deleted> and elbows for them Sound fair? Sounds like you chose the wrong bank. That said, one of my banks got carried away with the fashion for rash investments, which ended up a little embarrassing. For my last mortgage I've paid off about 75% of the principal in seven years, hoping to have it cleared by ten. The benefits of living within one's means, I suppose. The bank were fine whenever I missed a payment, although the last time that was through an error either on their part or on the part of my local bank here; when I took out the mortgage, I had not done a full risk assessment (oh - that's a whole new topic in itself!) and a lot of banking footsoldiers have trouble finding the Channel Islands. I think I can actually get higher interest rates on savings than I am paying on that mortgage, though the exchange rate risks made my head hurt. In the end, I took it out in the same currency I was earning; though within three years that had changed... Anyway, for those that complain about the government bailing out the banks, they might like to reflect back on 1998, when the HK government effectively took something like 25% (Naam will correct me with the precise details) of the stock market into state ownership - more than the British Labour government ever achieved, even in the '70s, and, if my memory serves me well, profited richly from it. SC Link to comment Share on other sites More sharing options...
patongster Posted January 10, 2012 Share Posted January 10, 2012 LostinBkkagain, what have you decided to do? From reading the posts it looks like you will be ok if you plan not to return to the UK anytime soon. Link to comment Share on other sites More sharing options...
sparebox2 Posted January 10, 2012 Share Posted January 10, 2012 Not sure about the UK's rules but it may be that as you no longer are in the UK they would have you as a person who has taken flight. That would mean the debt stays on your credit rating for 7 years. If you hadn't 'taken flight' then the bad debt would stay on the credit rating for 5 years. What they will do depends on the size of the debt. Say if it is $5k or $10 I doubt they would go to the expense of getting a court order etc especially involving Thailand. Plus they would have to be pretty sure they could recoup the debt otherwise it is too costly for them. Call them, explain the situation, most times they will drastically reduce the debt in order just to get something back off you. Edit: I too just noticed the amounts. If you have no intention of paying them you can call them and tell them you won't be paying. I doubt they would do anything except try and get you to pay a nominal amount in satisfaction of the debt. If you are going to default anyway, why not run the cards all the way to their limits first. Link to comment Share on other sites More sharing options...
chops Posted January 10, 2012 Share Posted January 10, 2012 Amazingly, even after defaulting on nearly $100k of debt, I still have this one card that is still open and has $1,200 on it. I've yet to max it out but soon will at the local night club. Hehehe. Link to comment Share on other sites More sharing options...
cardholder Posted January 10, 2012 Share Posted January 10, 2012 Its all smiles and rainbows until you fall on hard times, then its <deleted> and elbows for them Sound fair? No - it sounds bitter and twisted to me. Link to comment Share on other sites More sharing options...
WAYNEandAEI Posted January 10, 2012 Share Posted January 10, 2012 If the banks are going to throw around money with unsecured loans they deserve to lose it. Link to comment Share on other sites More sharing options...
WarpSpeed Posted January 10, 2012 Share Posted January 10, 2012 (edited) Anyone so incompetent at managing money as the OP can't possibly live in Thailand for 6 years. Funny that, sometimes things just happen in life, doesn't brand one a complete loser just someone who stumbled and then recovered and there are plenty of multimillionaire examples of that too ... Edit: Many of which are bankers and brokers and instead of their own money, they use ours. Edited January 10, 2012 by WarpSpeed Link to comment Share on other sites More sharing options...
WarpSpeed Posted January 10, 2012 Share Posted January 10, 2012 Not sure about the UK's rules but it may be that as you no longer are in the UK they would have you as a person who has taken flight. That would mean the debt stays on your credit rating for 7 years. If you hadn't 'taken flight' then the bad debt would stay on the credit rating for 5 years. What they will do depends on the size of the debt. Say if it is $5k or $10 I doubt they would go to the expense of getting a court order etc especially involving Thailand. Plus they would have to be pretty sure they could recoup the debt otherwise it is too costly for them. Call them, explain the situation, most times they will drastically reduce the debt in order just to get something back off you. Edit: I too just noticed the amounts. If you have no intention of paying them you can call them and tell them you won't be paying. I doubt they would do anything except try and get you to pay a nominal amount in satisfaction of the debt. If you are going to default anyway, why not run the cards all the way to their limits first. THAT can be considered fraud and puts one in an entirely different category.. Link to comment Share on other sites More sharing options...
WarpSpeed Posted January 10, 2012 Share Posted January 10, 2012 Funny stuff, small minded stuff. The banks are the ones screwing everyone. I don't feel like I have been screwed by the banks. I've borrowed money to buy an apartment at an attractive rate of interest, and I'm paying it back. They charge fees for services like transferring money from one country to another, and if they provide a better, cheaper service, I use my bank; alternatively I use Western Union. They facilitate my trade with strangers, and they have never really let me down. I can't comment on others' relationships with banks. SOmetimes I get a little frustrated, but that is true of most organisations that I do business with. I don't feel entitled to steal from the banks, any more than I feel entitled to steal from any of the other parties I do business with. If I did, the first thing I think I would do is stop doing business with them. You can't really lump all banks together; they work in a very competitive industry, and if you are unhappy with your bank, you can choose another. If you are unhappy with the way your government has treated the banks, you can choose another. SC Sure your not feeling screwed by your bank? At half the life of your mortgage, you will not have even have paid off 25% of the principle - its all interest in the beginning. You can pay your mortgage for 10 years, then miss 3 payments and they will take your house. Even after the initial cost of the house has already been paid back, but they call that interest. Its all smiles and rainbows until you fall on hard times, then its <deleted> and elbows for them Sound fair? That's why it's always advisable to expressly pay off some principle every month in addition whenever possible as it will also reduce your over all interest and loan term and it's perfectly acceptable to do so in most cases... Link to comment Share on other sites More sharing options...
WAYNEandAEI Posted January 10, 2012 Share Posted January 10, 2012 I seem to recall an old saying which could apply to the OP When I owe the bank $1000, I have a problem. When I owe the bank $100,000, they have a problem. Particularly if its unsecure. Link to comment Share on other sites More sharing options...
Farang0tang Posted January 10, 2012 Share Posted January 10, 2012 (edited) So they cant get at your pension then? Edited January 10, 2012 by Farang0tang Link to comment Share on other sites More sharing options...
Skypist Posted January 11, 2012 Share Posted January 11, 2012 The OP can choose which road he wants to take, depending on his future plans. If he plans to come back to UK sooner than 6 years he may wish to self-negotiate the debts by sending them a budget planner and offering x £s per month (while not using the cards). An IVA is good for the larger amounts but the cost will come to around £4000 in total. The positives is that the agreed monthly repayments will continue and then stop, usually only paying back 1/3 of the total debt, and no more chasing by the debtors. But yes, those monthly repayments will have to be kept up. Link to comment Share on other sites More sharing options...
ludditeman Posted January 11, 2012 Share Posted January 11, 2012 So they cant get at your pension then? In the UK NOBODY can get at your pension (apart from a wife you had while earning the pension) After the divorce settlement the CSA cannot take from your pension, no charges of any kind can be made against it, lump sums you take from it or any income you receive from it. Excluding the Taxman of course. Link to comment Share on other sites More sharing options...
autan Posted January 13, 2012 Share Posted January 13, 2012 The banks do their thing and screw people, but those who don't repay their debts are scabs. Sort your shit out. This is irrational thinking "jackr". It seems to me that your saying its OK for banks to repossess peoples homes and hound them for money until they either pay off their debts, go bankcrupt or sadly kill themselves because that what banks do. They screw people. But people who cannot or will not pay back their debts are scabs. This is my opinion is why the banks continue to treat their customers so badly, they can always find an apologist for their actions, why condemming those who owe such a small amount to them. I say if we are going to play by those rules, then if a bank makes money through interest then fine, but if a bank gets into trouble because of bad debts, then it should be allowed to go bust. No more bailouts from the likes of me, the taxpayers. Link to comment Share on other sites More sharing options...
StreetCowboy Posted January 13, 2012 Share Posted January 13, 2012 The banks do their thing and screw people, but those who don't repay their debts are scabs. Sort your shit out. This is irrational thinking "jackr". It seems to me that your saying its OK for banks to repossess peoples homes and hound them for money until they either pay off their debts, go bankcrupt or sadly kill themselves because that what banks do. They screw people. But people who cannot or will not pay back their debts are scabs. This is my opinion is why the banks continue to treat their customers so badly, they can always find an apologist for their actions, why condemming those who owe such a small amount to them. I say if we are going to play by those rules, then if a bank makes money through interest then fine, but if a bank gets into trouble because of bad debts, then it should be allowed to go bust. No more bailouts from the likes of me, the taxpayers. To be fair, its claimed that the banks were bailed out not for the benefit of their shareholders or staff, but for the benefit of the people like me who rely on the banks to move money from one place to another so that we can continue to survive in the modern world. If we went back to relying on barter, or even cash in hand, those of us that provide pensions to people in Thailand, or international vacations, or create intellectual property such as TV shows would find it very difficult to maintain our careers. I'm not sure how much the Northern Rock shareholders received from the government, and legislation restricts how harshly we can punish people for working for unsuccessful companies. Fortunately. SC Link to comment Share on other sites More sharing options...
jamescollister Posted January 13, 2012 Share Posted January 13, 2012 I am of the opinion that the whole banking system is a scam from start to finish. Leave school or even before [ Hex loans ] get a job and sign to say the bank owns you for the next 30 or 40 year. You are a bonded servant and they own the fruits of your labor. To keep you in line they make sure that you are only 3 or 4 pay packets from poverty. Then throw in a house loan to buy a place to live. Ahouse that in real terms is vastly over priced. Think if a Government legislate a 5 year mav repayment time on home loans, what would the house be worth then. Now after many many years of labor you are nt needed in your job and transferred to shelf stacking or toilet cleaning, you can't say no or they will take all you have worked for away and just to make sure you toe rhe line they distroy any pension you thought you save you, or get the Government to change the law to make you work longer. Slavery is not gone, it just changed it's method of operation. You may not have an owner, but the system owns you. Jim Link to comment Share on other sites More sharing options...
StreetCowboy Posted January 13, 2012 Share Posted January 13, 2012 I am of the opinion that the whole banking system is a scam from start to finish. Leave school or even before [ Hex loans ] get a job and sign to say the bank owns you for the next 30 or 40 year. You are a bonded servant and they own the fruits of your labor. To keep you in line they make sure that you are only 3 or 4 pay packets from poverty. Then throw in a house loan to buy a place to live. Ahouse that in real terms is vastly over priced. Think if a Government legislate a 5 year mav repayment time on home loans, what would the house be worth then. Now after many many years of labor you are nt needed in your job and transferred to shelf stacking or toilet cleaning, you can't say no or they will take all you have worked for away and just to make sure you toe rhe line they distroy any pension you thought you save you, or get the Government to change the law to make you work longer. Slavery is not gone, it just changed it's method of operation. You may not have an owner, but the system owns you. Jim I suppose you could live under a bridge with the rest of your brethren. If you buy a house within your means, a mortgage need not be onerous. Unfortunately, many people want to buy a house beyond their means, and are willing to take on commitments that they may not be able to support. And the banks are foolish enough to allow them to do so. I'm hoping house prices stay depressed for a couple more years, while I clear this mortgage, then I'll look at buying somewhere to live... I reckon I'd like to buy two more houses yet, though that may be difficult, unless I work till I'm seventy... SC Link to comment Share on other sites More sharing options...
jamescollister Posted January 13, 2012 Share Posted January 13, 2012 I am of the opinion that the whole banking system is a scam from start to finish. Leave school or even before [ Hex loans ] get a job and sign to say the bank owns you for the next 30 or 40 year. You are a bonded servant and they own the fruits of your labor. To keep you in line they make sure that you are only 3 or 4 pay packets from poverty. Then throw in a house loan to buy a place to live. Ahouse that in real terms is vastly over priced. Think if a Government legislate a 5 year mav repayment time on home loans, what would the house be worth then. Now after many many years of labor you are nt needed in your job and transferred to shelf stacking or toilet cleaning, you can't say no or they will take all you have worked for away and just to make sure you toe rhe line they distroy any pension you thought you save you, or get the Government to change the law to make you work longer. Slavery is not gone, it just changed it's method of operation. You may not have an owner, but the system owns you. Jim I suppose you could live under a bridge with the rest of your brethren. If you buy a house within your means, a mortgage need not be onerous. Unfortunately, many people want to buy a house beyond their means, and are willing to take on commitments that they may not be able to support. And the banks are foolish enough to allow them to do so. I'm hoping house prices stay depressed for a couple more years, while I clear this mortgage, then I'll look at buying somewhere to live... I reckon I'd like to buy two more houses yet, though that may be difficult, unless I work till I'm seventy... SC When there is enough people under the bridge,the banks will start loaning money for up market cardboard boxes. Jim Link to comment Share on other sites More sharing options...
robblok Posted January 13, 2012 Share Posted January 13, 2012 It shocks me to see that so many people condone stealing and running away from a debt because its the big bad banks fault. You run up the debt you pay for it. I hate freeloaders, at times i got non paying client. Its just crazy when you take a debt or a service you have to pay for it or others suffer. I wonder how guys like that would feel if they loaned me money and i defaulted on them. Link to comment Share on other sites More sharing options...
Berkshire Posted January 13, 2012 Share Posted January 13, 2012 It shocks me to see that so many people condone stealing and running away from a debt because its the big bad banks fault. You run up the debt you pay for it. I hate freeloaders, at times i got non paying client. Its just crazy when you take a debt or a service you have to pay for it or others suffer. I wonder how guys like that would feel if they loaned me money and i defaulted on them. I agree. A deadbeat is a deadbeat. He's spent the money and received something for it. I really don't understand the mentality of some TV folks. Link to comment Share on other sites More sharing options...
ludditeman Posted January 13, 2012 Share Posted January 13, 2012 (edited) It shocks me to see that so many people condone stealing and running away from a debt because its the big bad banks fault. You run up the debt you pay for it. I hate freeloaders, at times i got non paying client. Its just crazy when you take a debt or a service you have to pay for it or others suffer. I wonder how guys like that would feel if they loaned me money and i defaulted on them. Probably the way I feel when a friend borrows money from me and doesn't pay it back. No longer a friend, the money didn't matter, I have plenty more (same as a bank really) @ the two previous posters. Don't lend money if you are that desperate. If you do, never expect to get it back. Edited January 13, 2012 by ludditeman Link to comment Share on other sites More sharing options...
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