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I'm alright Jack -
So the lender just forgets about the $100,000 shortfall?
They must have different rules over there.
Science isn't about why, it's about why not. You ask: why is so much of our science dangerous? I say: why not marry safe science if you love it so much. In fact, why not invent a special safety door that won't hit you in the butt on the way out, because you are fired. - Cave Johnson -
In the UK, they reposses, sell the house for 1p at auction and then pursue you personally for the balance, forcing you to declare yourself a bankrupt and never get credit again.
In the US, you hand your keys in and walk away.Comment
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Originally posted by DimPrawn View Post
Bankruptcy seems to be the new craze in this country, seems an easy way for a lot of people to wipe out their debts.Comment
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Not from what i saw on a recent programme.forcing you to declare yourself a bankrupt and never get credit again.
Guy on there was banrupt 3yrs ago and did a "credit repair" for 12 months - i.e taking out small amounts of credit, repaying early etc. and he actually got a better mortgage offer than a person who had no adverse credit history (but admittedly little credit history).Comment
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Unless you've paid for indemnity insurance. In which case they reposses, sell the house for 1p at auction and then the insurance companypursues you personally for the balance, forcing you to declare yourself a bankrupt and never get credit again...Originally posted by DimPrawn View PostDown with racism. Long live miscegenation!Comment
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Originally posted by NotAllThere View Post
who sell it on to local heavies who pursue you with dodgy, if not illegal, interpretations of the law
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"See, you think I give a tulip. Wrong. In fact, while you talk, I'm thinking; How can I give less of a tulip? That's why I look interested."Comment
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Nope - full bankrupcy not the under £15k debt releif order....Wouldn't this be the "bankruptcy lite" that was introduced a while ago. I thought that proper bankrupts had to wait seven years before they were allowed to borrow properly again?Comment
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It seems that even bankruptcy is not what it used to be...Originally posted by NetwkSupport View Post"See, you think I give a tulip. Wrong. In fact, while you talk, I'm thinking; How can I give less of a tulip? That's why I look interested."Comment
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