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419
31st Oct 2005, 13:43
When Michael Donoghue started university he was debt free. 4 years later, he owed 35,000. He signed up for 3 bank accounts, 3 catalogue agreements, 2 store cards, a loan for a computer, and a 5000 bank loan.
He says "As soon as you walk through the door, the banks are trying to sign you up. When you first go to Uni, you haven't any experience of budgeting, and when people offer you money, you just jump at the chance"

So, yet again we have someone who refuses to take responsibility for their actions, as it's someone else's fault.

Haven't people heard of the word "NO"

simon brown
31st Oct 2005, 13:56
No doubt armed with the fiscal attributes Mr Donoghue displayed he will end up in a 100k/year post in a Local Govt finance dept or may even (if his mental arithmetic skills flourish even further) end up as Chancellor of the Exchequer ...that way he can blame someone else, like the previous government for his ill conceived decisions

Did this cretin never have a Saturday job or a paper round and obtain a basic intrinsic understanding of matters fiscal such as if you havent got it and can't afford to pay it back then just say NO

Paterbrat
31st Oct 2005, 15:16
Would seem that if he did his University Education was sadly wasted. But then some grads these days do have problems with basic maths, logic, common sense, and resisting temptation to name but a few.

Windy Militant
31st Oct 2005, 15:38
What course was he doing ? accountancy perchance! :p

Paterbrat
31st Oct 2005, 15:43
If he was, he obviously got an A in 'Creative Financing' :D

tubthumper
31st Oct 2005, 22:34
Is it possible to study full-time at university for four years and not run up any debts in the process? A nation of would-be students awaits the answer.

Astrodome
31st Oct 2005, 23:08
He would make an excellent Labour MP !

Maybe even Chancellor !

:) ;) :ok: :E

SLFguy
1st Nov 2005, 00:41
What course was he doing ? accountancy perchance!

Oi! Bog off...us bean counters are valuable members of soc......


*I'll get me coat then*

Blacksheep
1st Nov 2005, 03:29
Is it possible to study full-time at university for four years and not run up any debts in the process?Sad to say, only if you have a Dad like me.

Even then all of my daughters had part-time jobs to earn their beer money. I only paid the fees, the rent and the food.

Onan the Clumsy
1st Nov 2005, 03:44
Sure he's at fault...


...but then again, the banks and the credit card companies are complicit in the crime.

:yuk:

Rainboe
1st Nov 2005, 11:49
Get this- over a year ago we rented a small maisonette to a single mother who left a council flat, with the local council paying her rent direct to us.
Illegally, she co-habited there with her boyfriend- illegal because she is on benefits and her rent is being paid (600/month) by the council. He is working as a taxi driver (when he feels like it- he prefers lying on the settee playing Playstation some days- he has gone bankrupt himself and is on his 4th. surname).

This little dipstick has gone bankrupt owing banks (and a small sum to us) 25k-yes, even with no rent or mortgage to pay! The banks were only too happy to give her credit cards and 'consolidate' their loans with new ones. She's laughing in everybodies faces. I wish I knew who these banks were so I could publicise their profligacy- I know it is the rest of society (us) who pays for their stupidity.

*it's cost us hundreds, but we can finally get the bailiffs in to eject her next week. The council will simply rehouse her- and we all pay again. Funny world. And is anybody in authority actually interested in the Benefit Fraud going on? Not apparently!

Paterbrat
1st Nov 2005, 17:06
But you see these are staunch supporters of the government who hands out the bennies. Mustn't upset the voters.

Ozzy
1st Nov 2005, 17:09
her rent is being paid (600/month) by the council How did she end up owing you 25K then?

Edit: Thanks Paterbrat - I totally misread that. But she still owes a small sum to Rainboe.

Ozzy

Paterbrat
1st Nov 2005, 17:19
She didn't. Post says ( and a small sum to us ) ;)

WorkingHard
1st Nov 2005, 19:30
Could you not just get some large friends to ask them to leave (nicely of course) instead of going to all the bother of a posession order?

Rainboe
1st Nov 2005, 19:42
These people have the Benefits office and the Citizens Advice Bureau all advising them how to stick it up you a long way. They know all the steps you have to take and how to counter them. We have found that renting is not as easy as all the articles tell you. Most people I know seem to end up with no rent being paid and 4 months to repossess their house. It's a nasty business and you see the unpleasant side of people. If you try and get 'heavy', all they have to do is complain and you are in trouble. The solicitor tells us even if they overstay the repossession order and aren't there, don't go in, because if they come back and see you, YOU are the one in trouble because they still have possession! Work that one out! They positively have to leave of their own free will.
I am having great trouble restraining the wife from bursting in with a flame thrower.

eal401
1st Nov 2005, 19:44
Is it possible to study full-time at university for four years and not run up any debts in the process?
No. Better off being a white-van driving, Sun-reading, townie chav [email protected]

maxman
1st Nov 2005, 19:47
Was in my local branch of the Woolwich today, to pick up a cheque. Noticed that they were advertising Barclaycards.
Conversation as follows.
Assistant "Do you have a Barclaycard"
maxman "No"
Assistant "Would you like one, Christmas is coming up , it's a very expensive time of year"
maxman "Thats about the best reason not to have one then, isn't it"
Assistant "Blank look"
Not a day goes by when one of those "you have been pre approved" junk mails comes through the door:mad::mad: :mad:

The level of debt here is getting beyond silly. Take a look at some of the stories here, very sobering.
http://forums.moneysavingexpert.com/forumdisplay.html?f=76

G-CPTN
1st Nov 2005, 19:49
>We have found that renting is not as easy as all the articles tell you. Most people I know seem to end up with no rent being paid and 4 months to repossess their house. It's a nasty business and you see the unpleasant side of people. If you try and get 'heavy', all they have to do is complain and you are in trouble. The solicitor tells us even if they overstay the repossession order and aren't there, don't go in, because if they come back and see you, YOU are the one in trouble because they still have possession! Work that one out! They positively have to leave of their own free will.

**********************************
Having rented our house when we were overseas, we were lucky only to loose the final month's rent, loose several cherished possessions, and have to scrape the grease off the kitchen floor.
Friends in the same village inherited their parent's house and decided to keep it for when their son needed a home of his own, but let it meanwhile. The tenants allowed the oil to run out during below-zero temperatures. The heating froze, the pipes burst and brought the ceilings down. The tenants 'moved out' leaving a couple of grand's worth of damage (plus a month's rent unpaid . . . )