Bankruptcy link to young people's 'WAG-like' spending

[Legal Beagles]

More young people are putting themselves at risk of bankruptcy because they're trying to live a celebrity lifestyle, according to debt advisers.

More...

[scoobydoo]

Re: Bankruptcy link to young people's 'WAG-like' spending

Very true for some young people - but if they did not have access to the loans and all the store card that are offered every time you shop then they would not be able to buy the goods or get into debt in the first place!

[willowb]

Re: Bankruptcy link to young people's 'WAG-like' spending

I think it's really too easy for them to become bankrupt these days and it certainly doesn't carry the same stigma it did years ago. My bro in law was declared bankrupt last year, his local CAB told him it was the easiest way out of his debt. He's got a new car, has had 2 holidays to the states since then etc etc....so what? Who cares? arrrg I just don't get it! We have been up to our necks in debt and have struggled for years to get it cleared and are still paying for it, are we the mugs??? Seems to me that a lot of them just go 'look at me I'm bankrupt...had a ball getting there though...way hey!!!!'...it makes me so mad.

Rant over
Wxxx

[scoobydoo]

Re: Bankruptcy link to young people's 'WAG-like' spending

i know a couple recenltly who borrowed to bail out their daughter who had got into debt and now they are BR. However the mother is still getting clothes from catalogues etc through her daughter, and still has her car etc which is on a lease contract and is going on holiday - so I dont get it either .

I am sure in most cases it is not an easy option though.