That bint whats in debt

[Fleetwood]

This is a classic line, in diary entry ten...

So it comes down to the obvious: selling a buy-to-let property.

and...

I am asset-rich and cash-poor,

So sell some assets, FFS.

And you aren't on "maternity leave" either. You're a contractor without a contract.

[cameraman]

The latest diary entries are a joke:

I look again at selling my buy-to-let property.

I do the number crunching and due to fees and tax it just does not make sense.

I hoped that my property would be my pension and spent 10 years working hard to buy it. My current situation threatens all my hard work.

Hard work? She borrowed money to go on a property spending spree and then couldn't pay it back?

I receive two letters - one from Halifax credit card services and the other from Barclays bank, who I have my current account with and a personal loan.

They both hit me with charges for being in arrears, despite the fact that I had warned them weeks ago that I would not be able to afford my repayments.

...I fall into arrears, hefty charges are added to my balance and interest accrues... It's a real win-win scenario for Halifax. No wonder they are making huge profits!

Er yeah, that's their business love. They don't lend out money for free, they charge for a service and make a profit. The small print says that they can fine those that borrow money but can't pay it back. Oh, like you.

[mcquiggd]

As an aside, is there anybody on the planet who does not describe themselves as an 'Consultant'..?

Call yourself a contractor, and be damned..


(I am, of course, currently an 'In-Situ Semi-Resident e-Business Facilitator').

[cameraman]

I think the Bint What's In Debt has ended her blog now, with "Diary Entry 13".

http://news.bbc.co.uk/1/hi/business/5170278.stm

She ends by giving us all some advice if we ever have money problems:

Work out a budget early
Consider the timing of starting a family
Cut up your credit cards

Gee, I would never have thought of that...

[Joe Black]

Perhaps she should have just sued her IFA...

http://www.thisismoney.co.uk/investi...5&in_page_id=3

"SAYARA BEG (pictured with daughter Alice, two) has been using an IFA for ten years and won't make an investment decision without contacting him."

One day (late February) she's a shining example of good financial govenence, promoting the idea of using a IFA to ensure everything's under control, the next she's a financial mess where "by late February our restaurant business began to show signs of struggling".

[mcquiggd]

You missed out the key phrase - 'a freelance IT consultant'. That is Syed speak for 'chancer'.

[cameraman]

That bint what's in debt obviously doesn't know when to stop! Diary entries 14 and 15 continue the saga of her spending spree.

http://news.bbc.co.uk/1/hi/business/5241290.stm?ls

She's still talking about selling a property but hasn't actually done anything about it. Still, at least she's considering it... Guess why? Yep, the mortgage company have threatened to repossess as they are entitled to do under the law of the land. Of course, she even finds fault with this system! The mortgage bloke tells her that the bad debt will be handed to a solicitor to start repossession proceedings and the charges associated with that will be added to her account in one month.

She says, "it is highly unlikely that I will find a buyer and complete a sale in four weeks, and can't my arrears just be added to the balance to be cleared when the sale completes?"

Someone explains to her that "Financial Services Authority regulations" don't allow that...



Why does she always think she's a special bleedin' case?! She's had months to sell the property, months! Does she think she'll get a good price on a flat going to repossession?!

Just hand over the keys to the nice man who leant you the money love and leave the property market to those that know how!

[StoneLaughter]

Er yeah, that's their business love. They don't lend out money for free, they charge for a service and make a profit. The small print says that they can fine those that borrow money but can't pay it back. Oh, like you.

That particular clause is actually unlawful under contract law. If someone breaches their contract, the other party can only recover their actual losses; and bank's default charges far exceed any losses they make on late payments etc. www.consumeractiongroup.co.uk refers.

Aside from that? You evil vultures are absolutely right - that is some stupid bint.

[Harrysp]

OMFG

I also inform them that I have decided to fight a case of unfair dismissal on the grounds of sex discrimination.

[cameraman]

That particular clause is actually unlawful under contract law. If someone breaches their contract, the other party can only recover their actual losses; and bank's default charges far exceed any losses they make on late payments etc. www.consumeractiongroup.co.uk refers.

Aside from that? You evil vultures are absolutely right - that is some stupid bint.

This is possibly so - she doesn't go into details in her blog, are they all punitive charges? - however she would have to pay the charges before she can start any proceedings to claim them back and she can't pay them anyway!