Have to ask, all those who talk about portfolio management, stocks and shares, property investments and deadbeats. If when the GFC hit and Governments had not intervened to save the financial system, with Tax payers future taxes. Many of you would now be broke and worse in debt, as I assume many used loans etc to buy property etc. Would you still be calling those that lost jobs, had to take pay cuts, work long for less and couldn't met their repayments, Deadbeats. Jim

Have to ask, all those who talk about portfolio management, stocks and shares, property investments and deadbeats. If when the GFC hit and Governments had not intervened to save the financial system, with Tax payers future taxes. Many of you would now be broke and worse in debt, as I assume many used loans etc to buy property etc. Would you still be calling those that lost jobs, had to take pay cuts, work long for less and couldn't met their repayments, Deadbeats. Jim

I think if the banks had gone bankrupt, then their ability to collect the debts they were owed, their ability to repossess houses, whould have been impaired to the extent that we could all have forgotten about our mortgages.

The problem would have been visited on the pensioners who had their life savings tied up in the banks, the people who relied upon their credit cards to pay for airline tickets, the people who rely on customers paying their bills by transfer. For those amongst us who don't trade with international oil companies (not many, I admit), who don't rely on high-tech services (still fewer, I suspect); we would be laughing all the way to our subsistence farms.

SC

Have to ask, all those who talk about portfolio management, stocks and shares, property investments and deadbeats. If when the GFC hit and Governments had not intervened to save the financial system, with Tax payers future taxes. Many of you would now be broke and worse in debt, as I assume many used loans etc to buy property etc. Would you still be calling those that lost jobs, had to take pay cuts, work long for less and couldn't met their repayments, Deadbeats. Jim

I think if the banks had gone bankrupt, then their ability to collect the debts they were owed, their ability to repossess houses, whould have been impaired to the extent that we could all have forgotten about our mortgages.

The problem would have been visited on the pensioners who had their life savings tied up in the banks, the people who relied upon their credit cards to pay for airline tickets, the people who rely on customers paying their bills by transfer. For those amongst us who don't trade with international oil companies (not many, I admit), who don't rely on high-tech services (still fewer, I suspect); we would be laughing all the way to our subsistence farms.

SC

Good point, but I would think the liquidators who came to administer the fallen financial institutions would not be forgetting anyone they could bleed for a few extra dollars. I am OK as I am already a subsistence farmer of sorts. I've already bailed out. Jim

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.

You said you had plenty money but you also defaulted on your cards.. sound a bit crazy to me. To me your a deadbeat if you don't pay your debts but you can.

So because the bank has much money its ok to steal.. wow wish there was a way to screen for people like you. Ban them from loans.. bank accounts ect. Would make it cheaper for us that do pay up.

You said you had plenty money but you also defaulted on your cards.. sound a bit crazy to me. To me your a deadbeat if you don't pay your debts but you can.

So because the bank has much money its ok to steal.. wow wish there was a way to screen for people like you. Ban them from loans.. bank accounts ect. Would make it cheaper for us that do pay up.

You are confusing me with another poster.

I never defaulted on anything because I always had plenty of money.

But I have nothing against anyone who takes from a financial institution, by any means.

Have to ask, all those who talk about portfolio management, stocks and shares, property investments and deadbeats. If when the GFC hit and Governments had not intervened to save the financial system, with Tax payers future taxes. Many of you would now be broke and worse in debt, as I assume many used loans etc to buy property etc. Would you still be calling those that lost jobs, had to take pay cuts, work long for less and couldn't met their repayments, Deadbeats. Jim

Sure id call them deadbeats.. if you can pay of a debt and you don't then your a deadbeat. If you make effort to pay it but can't that is an other situation. Here we are talking about people walking away from debt. Never looking back even if they could pay it back later. Different story.

Have to ask, all those who talk about portfolio management, stocks and shares, property investments and deadbeats. If when the GFC hit and Governments had not intervened to save the financial system, with Tax payers future taxes. Many of you would now be broke and worse in debt, as I assume many used loans etc to buy property etc. Would you still be calling those that lost jobs, had to take pay cuts, work long for less and couldn't met their repayments, Deadbeats. Jim

Sure id call them deadbeats.. if you can pay of a debt and you don't then your a deadbeat. If you make effort to pay it but can't that is an other situation. Here we are talking about people walking away from debt. Never looking back even if they could pay it back later. Different story.

Been round this old world a bit and never met people who walk away from good jobs, good homes and a good life just to rip off a few credit cards and bank loans. Jim

You said you had plenty money but you also defaulted on your cards.. sound a bit crazy to me. To me your a deadbeat if you don't pay your debts but you can.

So because the bank has much money its ok to steal.. wow wish there was a way to screen for people like you. Ban them from loans.. bank accounts ect. Would make it cheaper for us that do pay up.

You are confusing me with another poster.

I never defaulted on anything because I always had plenty of money.

But I have nothing against anyone who takes from a financial institution, by any means.

Regrettably, that statement makes you no better than them.

For those amounts of money, there's no way they're going to remotely do anything like trying to track you down in Thailand. However as others have mentioned, things will get really hairy if you go back to the UK and need any kind of credit. Best to negotiate a settlement. If they know you're living overseas (where it's hard to chase you) and you want to come to a settlement, they'll prefer to get paid something rather than nothing and you can get the debt erased fair and square.