|
 |
 |
FORUM |
> Browse and post on our forum |
|
|
 |
|
 |
Note: You must be registered in order to post a reply. To register, click here. Registration is FREE!
|
T O P I C R E V I E W |
Needafriend |
Posted - 23 August 2008 : 08:42:30 Hi all, Just sat here thinking to myself that the government may in the next year or so change the Bankruptcy laws as to some they may think its an easy option. Of course for many many people it is not, but there are some out there that really annoy me, they deliberatly take credit, then dont pay it back or only minimal payments the declare bankruptcy. Some even leave the country, some just dont care, for those who are genuine like myself I feel that maybe we are made to feel that we have done something really bad, yet we are not criminals. I do however think that the people in the government once they realise how many people are having to take this route may decide to change it, as now you are usually 99% discharged subject to some things maybe after the year and even if you get a BRU or BRO which are not bad things at least you cant get yourself into anymore debt again for years if you get one, then maybe its a kind of blessing, a way of saying "No more being naughty and spending what you dont have, I am slapping your wrists for whatever the years are". I think that we will see a change in the law as it is not easy esp when you have a home and children, but also the bliming banks and other lenders need to have their wrists slapped severely and told to stop sending out the "Yes you have been agreed" letters, "There is a cheque with your name on it" post cards and also the TV advertisments offering "Consolidaitons" these dont help us. Just my gripe today and wondered if anyone else wanted to have a gripe too and put in what they feel is wrong with the country, or the laws that surround this subject or just gripe about anything really. Have fun JO
"There is light at the end of the tunnel, if you cant find it, get a brighter torch!" |
3 L A T E S T R E P L I E S (Newest First) |
John |
Posted - 23 August 2008 : 09:50:53 Hi jo many thanks & enjoy the BBQ.
www.Bankruptcyhelp.org.uk 0800 078 9367 |
Needafriend |
Posted - 23 August 2008 : 09:42:42 Morning John, Thanks for your words this morning. I just felt I needed to gripe about some thing today and im glad I did as you have given me some more knowledge. I do get annoyed by those who play the system, and I beleive that if you do that then the BRO's that are given are well justified. Its hard enought taking this route without some out there using it as a "Get out of jail free card" if you know what I mean. Those companies taking advantage do need regulating and the fees shiuld be more inline with each other, some costs are just outragious and to be honest some need to be named and shamed. Im all for genuine companies and also indiviuals but Oh my temper flares when I hear of those who are out to gain, gain, gain and rip people off. We are already vunerable and some pray on it. Have a great weekend John, lets hope the sun shines, as I want to do a BBQ. Jo
"There is light at the end of the tunnel, if you cant find it, get a brighter torch!" |
John |
Posted - 23 August 2008 : 09:16:54 Hi jo I have no doubt that legislation will change with regard to BR but I don't envisage it happening just yet.
The Enterprise Act 2002 took until April 2004 to come into force. It is without question this Act that has prompted so many of us to use the bankruptcy route as a way of starting again as pre the Act the penalties and repercussions were much more harsh and the BR was saddled with those for life.
The major banks, working with the Insolvency Service, have looked closely at IVA's recently and the goal posts are still yet to be firmly fixed in my opinion.
As the criteria becomes tighter in IVA so less people qualify, the trend has been for those that don't qualify to opt for DMP. The numbers of DMP companies has shot up in the last year so the powers that be are now looking to apply some form of regulation in that area too.
Once the IVA and DMP markets have been dealt with, which will likely take another year or two, then BR would naturally be the next area to be scrutinised. In particular the fee charging companies that are cropping up offering professional advice. There are not so many of these at present but these too are very much on the increase.
So when BR becomes the topic of the day I feel the first step would be for the industry to become regulated to sift out those companies that may be considered incompetent and / or charging too much for too little return when giving BR advice.
Once all these areas have been dealt with then the legislation regarding BR itself will probably come under the microscope once more. I estimate this could take upwards of 5 years before it happens though.
www.Bankruptcyhelp.org.uk 0800 078 9367 |
|
|
bankruptcyhelp.org.uk Forum |
© bankruptcyhelp |
 |
|
|
|
|
 |
|
|
|
|