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xmas baby
Average Member
537 Posts |
 Posted - 03 December 2008 : 13:53:23
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Just when I thought it couldn't get any more complicated, my bank just called to ask me if I would be interested in taking out another loan to help pay off my credit cards, etc. This would mean me having 2 loans with the bank (but my credit cards paid off). Not sure what to do, especially as I am considering bankruptcy anyway and I believe it may be considered fraud if you undertake a new loan agreement prior to possible bankruptcy. Am I right? Not sure whether to take up the banks offer as at least they're trying to help or whether I would be just digging myself into an even bigger hole. Anyway, I thought the banks were tightening up on loans anyway and I would hardly think they look on me as a 'safe' target. It might be that my friend also pays their wages into my account, so it looks as though I have more money than I actually do have.
Help!!
Xams baby |
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Needafriend
Junior Member
United Kingdom
344 Posts |
Posted - 03 December 2008 : 13:57:49
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Keith
If you really are considering BR then i would say NO to the bank as its way to close and yes the OR wont take too kindly too it.
Thats my opnion only.
Jo
x
For more info on how i have come through bankruptcy and for links to help, you can read my blog here called:
Needafriend's Info on Bankruptcy :-)
http://debtfreejo.blogs.bankruptcyhelp.org.uk/
Needafriend says: Live life to the full, take life by the horns and live a little, otherwise life would be so boring!
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movin on
Average Member
United Kingdom
946 Posts |
Posted - 03 December 2008 : 14:26:43
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My bank did exactly the same thing to me.....from my own experience i would say NO please dont take up their selfish offer _ its all about them hitting their targets, not about your situation.
Onwards and Upwards is the way im going :-0)
xx |
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xmas baby
Average Member
537 Posts |
Posted - 03 December 2008 : 14:38:17
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Thanks to you both. Yes, thats what I thought, but just needed confirmation. As you said, moneyworries, at the end of the day the bank are looking at reaching targets rather than looking after your welfare.
xmas baby |
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Needafriend
Junior Member
United Kingdom
344 Posts |
Posted - 03 December 2008 : 14:41:31
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I agree :-)
Dont take anymore credit now if you can, you dont want to get into anymore debt even if it is paying of some old cards etc as you would need to make a minimum of 3 payments to them before you went bankrupt and its not worth it.
LOL
Jo
x
For more info on how i have come through bankruptcy and for links to help, you can read my blog here called:
Needafriend's Info on Bankruptcy :-)
http://debtfreejo.blogs.bankruptcyhelp.org.uk/
Needafriend says: Live life to the full, take life by the horns and live a little, otherwise life would be so boring!
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xmas baby
Average Member
537 Posts |
Posted - 03 December 2008 : 15:18:39
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okay Jo. Doesn't make sense taking out more credit when you know its only a matter of time until the inevitable happens anyway. I just feel very guilty that the bank is trying to help with my finances and little do they know what I'm planning and they could lose a lot of money that I owe them.
Am I guilt ridden or what?
xmas baby |
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Trolly-Dolly
Average Member
591 Posts |
Posted - 03 December 2008 : 15:25:52
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I was the same, trust me the guilt soon passes!
Our debts are a drop in the ocean to the millions that the Upper Classes borrow and dont pay back. This is about you now, your life.
You can read my blog here;
http://drowningmummy.blogs.iva.co.uk/ |
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Needafriend
Junior Member
United Kingdom
344 Posts |
Posted - 03 December 2008 : 19:15:03
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Hi Keith
Dont feel guilty, its as much their fault as it is ours.
They have insurance for their monies and dont really care about us as individuals or even human beings. Are they worrying about us when we cant sleep or eat "NO"
Are they worrying about us when we lose our home "NO".
Are they worrying about us when we need a shoulder of support and someone who we can rely on "NO"
You have to look out for #1 im affraid and decide what you want to do and know that your doing it for the right reasons.
Take care and if you have anymore questions, just post them and we will try and help u out ;-)
Jo
x
For more info on how i have come through bankruptcy and for links to help, you can read my blog here called:
Needafriend's Info on Bankruptcy :-)
http://debtfreejo.blogs.bankruptcyhelp.org.uk/
Needafriend says: Live life to the full, take life by the horns and live a little, otherwise life would be so boring!
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movin on
Average Member
United Kingdom
946 Posts |
Posted - 03 December 2008 : 19:21:08
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Keith
Dont feel guilty - i did for so long, and as daft as this sounds i didnt know the banks are insured against it and will get the lot back. They phoned YOU and altough it seems like they are trying to help they are not. Stay strong if you get offered anything, as once you realise you are insolvent you really should not get anything else - i realise some people have to to live, but trust us all you are doing the right thing.
You just need to decide which way to turn. Can you not make token payments to your creditors in the meantime whilst you are deciding?
Jenny
Onwards and Upwards is the way im going :-0)
xx |
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I thought it couldn't get any more complicated
