Quote:
Originally posted by Redruth
And notification of CCJ's/bad credit ratings, are a long way off based on the facts you described. |
That's as maybe Redruth, but I have no shame in saying I've been there before. My wife and me were partners in a business venture that was doing OK until the recession of the late 80's/early 90's meant that several key customers went under, owing us tens of thousands. We stopped trading and, rather than declare ourselves bankrupt, decided to stand by all our debts.
When you haven't got enough money to pay all your bills, you get selective about what you pay, and with the help of the Citizens Advice Bureau you make sure that you pay all the things that keep a roof over your head and sustain life. So you pay the mortgage, heating bills, electricity bills (so you can cook) and pay for food. To hell with all the rest of 'em, they can accept you paying them back at a fiver a month or take you to court. Some of them do take you to court, and I ended up with a couple of CCJ's.
I'm still feeling the effects today. As far as I remember, it takes six years after you've paid off the debt for a CCJ to expire and it took nearly ten years to pay off every single penny. Nett result is that in my late fourties when my mortgage should be within a couple of years of being payed off (thus giving me the disposable income to afford a fleet of Ducatis) I'm at least 10 years behind.
I've been well and truly back on my feet for about five years now, but when some little snot sends me a letter threatening me with credit referal, especially when I never entered into any agreement, I tend towards paranoia.
[Edited on 21-7-2004 by Jools]