People in financial distress

[Bronte]

Is it just me or does there seem to be an awful lot of people recently on AAM with severe financial distress who don't seem to be getting any help. Are Mabs really any good? I was very disappointed with what I've read of the new insolvency legislation. I know there are some people who will milk the system, but it seems nobody in government gives a damn particularly about those who are in severe debt and the problems this causes in marriages/relationships etc. Are your neighbours/friends/relations having financial issues or is it just a few on AAM?

 

[Wishes]

Yes, I’ve noticed this and within the coming months you will see a barrage more of posters like these.

I am very open about my financial situation. Whereas I find friends and work colleagues are not. They will say things are fairly OK, but yet they have had the family car repossessed and have large mortgages. We are still a nation of ‘What Will the Neighbours Think’, type people.

I had no option but to turn away from MABS because their waiting list was far too long. I had debt collectors calling to my door. It’s not that MABS aren’t doing a god job it’s just the fact that they are run off their feet.

Having read the thread yesterday in the Legal Forum, where a poster seemed drastically upset over being reprimanded by a banks barrister - it is threads like these that really bother me.

 

[Peter54]

Most of my family is in dire financial straits. They did not spend exuberantly; their only downfall was purchasing a family home. They were in what they thought were good jobs and had savings.

Their jobs are now gone, as well as their savings. Bankruptcy is their only option. All are with debt management companies outside of the jurisdiction.

The mabs waiting list is endless.

Most of the family does not speak.

I have been hesitant to go bankrupt. I’d been waiting for the new legislation to come in before I took the plunge and up-ed sticks. So far I don’t like what I’ve read.

 

[dewdrop]

Some people suddenly find themselves in severe financial difficulties and my simple message to this category is do not panic. No one is going to try and sell the roof over your head tomorrow so try and keep calm. I know it is easier said than done but fear of the unknown can wreak havoc on a person.