Leah-Lacie Posted May 18, 2012 Share Posted May 18, 2012 The bills would need to be changed into the woman's name obviously, with her living there and her husband being deceased - She would have utility bills in a few weeks, a bit like when you move into a new house, it takes a while to gather all your information together. A lot of places, not sure on banks, as I've been with the same bank now for over 20 years, but a lot will accept birth certificates and marriage certificates as proofs of identity. Link to comment Share on other sites More sharing options...
XXTickerXX Posted May 18, 2012 Share Posted May 18, 2012 I know someone who has loans and credit card debt of around £80k,all unsecured.He stopped paying around 5-6 years ago just like that.He said only 1 of the creditors obtained a CCJ against him and in a couple of months the defaults will be up as in unenforceable within the limitation acts.He reckons the CCJ will drop off his credit report and the court very rarely gives the banks leave (apparently they have to reapply) to chase it after that.He is quite unrepentant and does not worry about it at all. I often think i`m the stupid one when he has cars and holidays all over as well.The banks were stupid to give people that much credit but only have themselves to blame. Link to comment Share on other sites More sharing options...
Leah-Lacie Posted May 18, 2012 Share Posted May 18, 2012 Thats another thing XXTickerXX - reading the other thread relating to people on benefits living lives of luxury with TVs and cars etc, its a common disbelief (do I mean misbelief? Or some other word?) :|that people on benefits can't get credit, sometimes they can. Their brand new TVs, household goods, etc are probably from a catalogue, and may well be unpaid for. They can probably get some type of car finance or other loan to purchase a car if they get enough in benefits to cover repayments, and a family with a few children may well do so. They don't necessarily PAY for any of it though! Link to comment Share on other sites More sharing options...
I1L2T3 Posted May 18, 2012 Share Posted May 18, 2012 as long as you can afford to service your loans then debt isn't a problem. Slight correction. As long as you feel you will be able to service your loans if extreme economic circumstances strike at any time during the duration of the loan then debt isn't a problem. It's why variable rate loans have to be sold with projections of payments at varying interest rates. And why some people sensibly opt for the option of fixed rates. Link to comment Share on other sites More sharing options...
Rupert_Baehr Posted May 19, 2012 Share Posted May 19, 2012 Oh yeah, right! - Borrow money. I need a car. I found a car. the (negotiarted) price was 15.9 k cash. I could've bought it ' on tick' but the price was 19k. Yeah, right! Why on earth would I want to give somebody 3k+ ? If you want something and you've got the money - buy it. If you want something and you haven't got the money - wait until you do have the money. Works for me. Link to comment Share on other sites More sharing options...
Leah-Lacie Posted May 19, 2012 Share Posted May 19, 2012 DFS half price sale, 4 years interest free credit! Ends today and starts tomorrow! I want this sofa, I've got the £1000 cash right here! What do you mean its only half price if I take the 4 years free credit? They love to get you into debt! Link to comment Share on other sites More sharing options...
andyofborg Posted May 19, 2012 Share Posted May 19, 2012 DFS half price sale, 4 years interest free credit! Ends today and starts tomorrow! I want this sofa, I've got the £1000 cash right here! What do you mean its only half price if I take the 4 years free credit? They love to get you into debt! they make their money from the referral fee paid by the loan company Link to comment Share on other sites More sharing options...
Leah-Lacie Posted May 19, 2012 Share Posted May 19, 2012 But I presume, with 'interest free credit' - The loan company makes no profit? That is, of course, if you pay it back on time. Do they rely on people getting into debt they can't repay? Link to comment Share on other sites More sharing options...
andyofborg Posted May 19, 2012 Share Posted May 19, 2012 But I presume, with 'interest free credit' - The loan company makes no profit? That is, of course, if you pay it back on time. Do they rely on people getting into debt they can't repay? the purchase price probably includes some profit for the loan company Link to comment Share on other sites More sharing options...
Chris_Sleeps Posted May 19, 2012 Share Posted May 19, 2012 I know someone who has loans and credit card debt of around £80k,all unsecured.He stopped paying around 5-6 years ago just like that.He said only 1 of the creditors obtained a CCJ against him and in a couple of months the defaults will be up as in unenforceable within the limitation acts. He's playing a dangerous game if he thinks debts to that level will be statute barred. It's got nothing to do with when he last paid them money - it's when he last acknowledged the debt. Link to comment Share on other sites More sharing options...
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