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Thread: Anyone been bankrupt before?

  1. #121
    Pat Hamiltonophile Oxygen Theif's Avatar
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    why not consider the rural train driving jobs or heading up to the mines etc
    Problem here is how easy would it be to come back to the same job i have now after three years? not very. Also I need to be here for court when the ball finally gets rolling with the family lawyer.
    One condition of the AVO is i can see him through a contact centre..problem is they all have a six month waiting list and the closest one (catholic centre) wont even let me use their service due to the issues surrounding my situation.

    So it looks like i will be able to catch up with him once every two weeks for a 2 hour period at some place in Harris Park (i live over an hour away in Surry hills) once i get through this waiting period.

    It is exciting to think i could earn big bucks in the mines but the issues i have mentioned at this point not feasible.


    Erko
    I want to address this computer issue. Are you saying that this filo had blokes living at this premises, which you paid for........in some kind of undocumented sub let arrangement ? And during the course of this some bloke was involved in kiddy porn whilst living in the house with your son? All utilities etc where in your name and accordingly the AFP are pointing the finger at you.

    I'd be running very, very hard at the Filo.......
    Ah yeah, trust me if i knew who it was i would probably be in a lot more trouble for something else. Tearing the guy apart for one, im assuming it was one of the white bf's of her flip friends who are all nannies in the Eastern suburbs.
    Easy pickings for older white guys on their sixth marriage etc, in fact when the place got raided about 3 of her friends got sent to Villawood for overstaying visas (by decades in one case) and a couple of the other ones were given 'notices' to appear there.
    Apparently the first time your busted your just given a letter to turn up...of course they all just moved to another sharehouse and went off the grid again.

    No problem with that as most are hardworking shitkickers who do the jobs most aussies are too lazy too, same thing as the mexicans in the states.

    Gee im good at highjacking my own thread...

    back to the issue at hand, seems to be a lot of pros and cons for both options.
    paying it off or filing..
    dont think the car insurance thing will be an issue and I have a hard time believing you need to inform them if you get a parking ticket, a suspension i can understand but a freaking parking ticket?

    As for telling my work, so what? wouldnt affect it in anyway i can see. Its more the never being able to get a loan for a house practically forever which halts me in my tracks.
    As mentioned getting credit cards; small personal loans would only put me back in the same situation.
    Not being able to get utilities, mobile phone contracts or internet hooked up would suck but i plan to stay where i am for a decade or so anyway and yeah owner of my place has told me that would be fine.

    As long as i dont get in arrears with those things it should be fine, to this date i have not missed a credit card payment though my ex wife got way behind with Energy Australia (gas and lectricity-about 3k down) for months and months before i heard about it.
    I eventually threw all that on the credit card, this way late default with them might have ruined my credit rating for years anyway?

  2. #122
    2JZ Starion baby! hcca's Avatar
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    Quote Originally Posted by Stix Zadinia View Post
    yeah because banks are giving away money they get for free.. not someone elses money they're borrowing..
    Only about 10% of what the bank lends actually exists prior to the loan being drawn, so actually they are giving away money they get for free. The bank makes money even if you borrowed at 0% interest provided you pay back more than 10% of what you borrowed in the first place. The rape charges (otherwise known as interest) just add to their bottom line. The money banks make off deposits is a pittance compared to everything else.
    Last edited by hcca; 06-06-11 at 03:21 PM.

  3. #123
    ARE YOU REAAAAADY? Grunt's Avatar
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    considered leaving surry hills and live somethere cheaper on the train line given it is one of the dearest rental suburbs going?

    Foxtel?
    Internet plan?
    Mobile Phone plan?
    Quote Originally Posted by doods189
    Will throw in around $3000 worth of reptiles and acc as part payment and maybe if partner let's me a 50in plasma 3d tv

  4. #124
    Custon User Title Borked Cplus's Avatar
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    Quote Originally Posted by Sebastian Vettel View Post
    this is true, i didnt consdier that
    good to hear especially when re reading it myself and realising how bad the sentance read.

    ie: if the last "them" = you - would make much more sense

    but we're not here for a grandma test, we're here for a bankruptcy lynching. move along.
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  5. #125
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    Quote Originally Posted by Cplus View Post
    it doesn't.

    but it does effect the insurance companies opinion on your ability to manage your financial affairs (ie: risk to pay premium) and the risk of you trying to defraud your insurance to "claw back" in life via a dodgy claim.

    isn't that fucking obvious?
    Premium is paid up front isn't it ?


    As for the dodgy claim, was it not fucking obvious were I mentioned "legit claim" ............

  6. #126
    Pat Hamiltonophile Oxygen Theif's Avatar
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    grunt
    The other is he spent too much money
    couldnt agree more, I even remember reading books on how to buy 2 houses and how to be a millionaire, they mentioned people in my position and i shook my head wondering how they could be so goddamn stupid.
    then a couple of years later I woke up to find myself in the same situation..it still requires some boneheaded moves to do but its surprising how easy it was.

  7. #127
    LOTUS EXIGE S Puke Yellow The Schapelle Guru's Avatar
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    Please dont tell me you have foxtel at home?

  8. #128
    Pat Hamiltonophile Oxygen Theif's Avatar
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    oh yeah and on a 49buck plan with mobile.
    same for internet. stuck on them for 24 months

    150gig with internode so not a bad deal, i have a 700 dollar cap with vodafone too so its not like im going to go over it.
    no foxtel and i looked at cheaper suburbs but love being a 5 minute walk from work and its easier to rent out the other room this close to town.
    you have to go fucking MILES away to get significantly cheaper rent too, looked at around Parramatta/hornsby/Hurstville and the prices for a 2 bedroom apartment are pretty similar.
    most of my starts/finishes are when theres no trains anyway so would need to drive..I see how it would work for some people though.

    as for another job, i only have notice of my shifts a couple of days before the fortnight kicks off. Im a swinger so they are completely different every time so there is no way i could promise a second job any kind of stable availability.

    could probably just lob into my local pizzeria and do some deliveries for them on random nights when they are busy and im free. Its only 12 bucks an hour cash in hand but hell, its money.

    Seedyrom i applaud you for digging yourself of the hole you were in and if i had a house to worry about it there wouldnt be much choice either. would just have to knuckle down.
    the other option is just too tempting at this point, not much to lose etc.
    agree though, if everyone did it we would be fucked..

  9. #129
    Fondles
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    Quote Originally Posted by pathamilton View Post
    100 petrol
    Quote Originally Posted by pathamilton View Post
    o
    I looked at cheaper suburbs but love being a 5 minute walk from work
    EH, how does that work, $100 a week on fuel yet you walk to work ?

  10. #130
    Pat Hamiltonophile Oxygen Theif's Avatar
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    ERko

    not sure what you mean by 'on the punt' with the other bloke spending his spare cash? if i suddenly had disposable income i would like to think i would save it for emergencies, and one day a GTR34 which i couldnt afford if i was blowing it every wknd at TAB or on the wimminz.

    Seb
    also important to remember you have to surrender your passport when you go bankrupt, and you cant travel out of the country unless you have the permition of your trustee
    yeah i am aware of this, sucks big time. Its only 3 years though right? then four years of something else where you cant get loans before back to kind of normal..travelling is part of what got me into this mess in the first place.
    Went OS nearly every year for the last six or so, pretty much done everywhere except the South Americas so it might be time to settle down and save for a future trip instead of blowing it all on the plastic..

  11. #131
    Pat Hamiltonophile Oxygen Theif's Avatar
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    Eddie

    [QUOTE]EH, how does that work, $100 a week on fuel yet you walk to work ? [QUOTE]

    heheh busted.
    I never said that was blown on commuting, more so the odd cruise out to Goulburn for a track day (once a month but that might have to change..), visiting friends on the other side of the bridge, taking the GF to pretty places where she can go 'oooh' and 'aah'.

  12. #132
    ARE YOU REAAAAADY? Grunt's Avatar
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    dude - this is going to sound harsh. but fuck me man you need an attitude/reailty realignment. the more i learn the worse it gets.

    Even at 30k debt with zero tangible assets showing alarm bells were not ringing?

    1. you live in one of australias most expensive suburbs
    2. you still do track days in your car
    3. you still go to 'fancy places'
    4. you regularly take O/S holidays
    5. a 2nd job is inconvienient
    6. you are "too lazy" to write 5 letters

    Mate - with all due respect, get your shit in order - you are in significant debt. fuck i am tempted to write you a savings plan just to prove it is possible with the knowledge that unless you drastically reassess your priorities then all of this - calling bankrupty now or repayment - it is simply proloning the inevitable
    Quote Originally Posted by doods189
    Will throw in around $3000 worth of reptiles and acc as part payment and maybe if partner let's me a 50in plasma 3d tv

  13. #133
    Pat Hamiltonophile Oxygen Theif's Avatar
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    wow i got told.

  14. #134
    Pat Hamiltonophile Oxygen Theif's Avatar
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    dont worry though, i know i deserved it.
    never said it wasnt entirely my fault, its just that it took me a long time to get to this wake up call point and realise i needed help.

    not planning on doing anymore trackdays/trips for a longtime and i was kidding about the five letter thing.
    if that works im more than willing to try it.

    as for the 2nd job being inconvenient its more like i dont think too many people will take me seeing as i cant provide them with my availability.
    suburb explained.

  15. #135
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    I just think that there is still a bit more you can do to rectify this before you go for bankruptcy.

    - sell Skyline
    - Rent out a room for $100 - $150

  16. #136
    ARE YOU REAAAAADY? Grunt's Avatar
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    Income 1 - $1000 ( Current role ex O/T)
    Income 2 - $200 ( Pub, Lawns, cleaning, pizza delivery, labouring)

    Total Income - $1200

    Rent - $150
    Move to Summer Hill. 10mins out of city on the trainline and here is a 3bdr with 3 carparks for $400/w. you could rent the other 2 rooms out easily for $150 a piece. so $50 a week for bills
    http://www.domain.com.au/Property/Fo.../?adid=7062627

    Car - $60 (rego and insure - $20 a week. $40 running costs)
    sell the skyline. when you are clear of debt you will be able to buy it back for 1/10 of the price. Buy a swift gti or nissan micra. you can still track this in a few years as intermim fun when you celebrate repayment milestones.

    Food - $150
    This is plenty. Grocery shop - not at those bullshit macro wholefoods places at surry hills. go to a supermarket. freeze bread. make sambos or pasta for lunch. cook at home and cook enough for lunch leftovers. $150 is plenty for one mouth and should actually cover 2.

    Internet/Phone etc - $80
    this is probably too much, but for now you are committed to it.

    Fun and Sundries - $100
    you gotta have some fun. if you drink beers, drink them at home. buy a carton instead of 6 packs, if you (and you probably do) lack self control - only keep 6 at a time cold.

    Stuff I forgot- $100
    shit that i dont have time to write about

    TOTAL - $640

    INCOME - EXPENSES = $560

    Even paying back $500 a week (given the other expenses you have that i wont go into) gives you have more than enough to live and will be contributing 25'ishK a year.

    Seriously. you can do this. ball is in your court. if you are serious, i will write it up properly for you.
    Last edited by Grunt; 06-06-11 at 03:59 PM.
    Quote Originally Posted by doods189
    Will throw in around $3000 worth of reptiles and acc as part payment and maybe if partner let's me a 50in plasma 3d tv

  17. #137
    Pat Hamiltonophile Oxygen Theif's Avatar
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    Hmmm food for thought Grunt, i appreciate the effort that went into that and will seriously consider living by it other than the car thing.
    will certainly cut down on how often i drive it, one little cruise a week should be ok but other than fuel i dont think a micra etc will save me a whole lot.
    Rego and greenslip is pretty similar from what i have seen, its only trackdays, midnight nasho runs and 300 dollar tyres which blow costs out on the skyline.
    All things i can curtail till things improve.

    seriously...dont take away the 'line...its all i have left!

  18. #138
    Brock what are you doing? Smashed S15 Bloke's Avatar
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    Quote Originally Posted by seedyrom View Post
    but one guy complains about someone parking close and hoooo boy, its on!
    yeah that guy with the MX5 was a dickhead, he was just asking to be made an example of.

    on topic for a moment, I gots to ask if alarm bells were ringing by the time he got onto his 5th card? I mean I loaded up 2 cards and got myself into the shit but I worked hard, saved as much as I could, stopped partying so much and along with some handy tax refund cheques I was able to get my cards down to zero and only have them for emergencies now.
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    Quote Originally Posted by TK View Post
    Fuck yeah, Kinsler stuff for holden 6's is like finding hens teeth buried under rocking horse shit next to the needle in the haystack during a blue moon.

  19. #139
    Brock what are you doing? Smashed S15 Bloke's Avatar
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    Quote Originally Posted by pathamilton View Post
    wow i got told.
    It was on the cards..
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    Quote Originally Posted by TK View Post
    Fuck yeah, Kinsler stuff for holden 6's is like finding hens teeth buried under rocking horse shit next to the needle in the haystack during a blue moon.

  20. #140
    Pat Hamiltonophile Oxygen Theif's Avatar
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    Tez
    - Rent out a room for $100 - $150
    already rent out the one spare room for 285 a week.
    i pay the remainder which is 245 plus the bills which i cover.

  21. #141
    Pat Hamiltonophile Oxygen Theif's Avatar
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    wow i got told.
    It was on the cards..
    im assuming that pun wasnt intended :P

    I know, alarm bells should have been ringing a lot earlier. I just kept getting those 0% balance transfers and paying out the old cards intending to cancel them.
    Suddenly it was my annual leave and i was halfway across Hawai/Thailand and just HAD to hire that Viper/ride those elephants...

    so gotta admit i did enjoy life while the going was good but now time to trim the fat.

  22. #142
    Registered User Sebstar's Avatar
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    FUck me $100 a week on petrol and you don't even commute? Either your car drinks 30L/100km or what you consider a cruise most people would consider a 24hr enduro event.

    Reading more, I can't wait to see the "I declared bankrupty and it was the biggest mistake of my life" thread... You've had 5 pages of suggestions and you still make up excuses.
    Quote Originally Posted by Jack Nicholson View Post
    Just when you think you've seen all the retardation humanity has to offer.....

  23. #143
    Brock what are you doing? Smashed S15 Bloke's Avatar
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    Quote Originally Posted by pathamilton View Post
    im assuming that pun wasnt intended :P

    I know, alarm bells should have been ringing a lot earlier. I just kept getting those 0% balance transfers and paying out the old cards intending to cancel them.
    Suddenly it was my annual leave and i was halfway across Hawai/Thailand and just HAD to hire that Viper/ride those elephants...

    so gotta admit i did enjoy life while the going was good but now time to trim the fat.
    ah shit sorry about that mate, it wasnt intended but now that I read it again it was pretty funny.

    yeah i only fucked up once on the balance transfer thing. ramped the new card up and paid it off twice completely in a year, thought I was top shit for doing that and then got hit with a lot of large bills for car and phone etc, and before I knew it had two maxxed cards, but yeah like I said before I was lucky I only had two cards and I've been able to clear them and now start saving for a house (when I work out what boring suburban existence I want to be a part of)
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    Quote Originally Posted by TK View Post
    Fuck yeah, Kinsler stuff for holden 6's is like finding hens teeth buried under rocking horse shit next to the needle in the haystack during a blue moon.

  24. #144
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    As has been said - you need to take a big, long hard look at yourself.

    Live off of potatoes, ham, beans, cheese and some greens. Coming into winter potato bakes are cheap and filling.

    Stop going out. If you want/need to socialise, have your mates round for a barbie. Supply the venue and ask to be fed by the guests in return. You shouldn't be seen as a tight ass, you'll still get to hang some shit on your mates, and you'll get a free feed out of it!

    Pasta and cheap (high in fat) mince are also good cheap nourishment.

  25. #145
    Brock what are you doing? Smashed S15 Bloke's Avatar
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    Quote Originally Posted by Sebastian Vettel View Post
    flipper bitchs really know how to scam cunts
    ^^^ our old mate who is into the flippers has regaled me with stories of the scams they pull on aussie dudes who dont know any better. Do they teach "Scam Whitey" classes over there or something?
    1998 NB MX5
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    Quote Originally Posted by TK View Post
    Fuck yeah, Kinsler stuff for holden 6's is like finding hens teeth buried under rocking horse shit next to the needle in the haystack during a blue moon.

  26. #146
    Registered User Erko's Avatar
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    Quote Originally Posted by pathamilton View Post
    ERko

    not sure what you mean by 'on the punt' with the other bloke spending his spare cash? if i suddenly had disposable income i would like to think i would save it for emergencies, and one day a GTR34 which i couldnt afford if i was blowing it every wknd at TAB or on the wimminz.
    Wrong answer Pat, your spare cash doesnt go to saving for a R34 GTR. Your spare cash goes on paying off this fucking debt. The faster you make a debt in the principal, the less you will have to pay and the sooner you will be out of the hole.

    Listen to Grunt.

    you are in the mother fucking hole here. you need to review every expense.
    2011 FPV GT BOSS 335

  27. #147
    Screaming banshee
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    I'll be blunt as well, you need to grow up.

    80k at 15% will cost you about $1900 a month to pay back in 5 years. You can actually do this with some changes to your lifestyle (not massive changes either)

    If you sold the skyline and used that to knock 10k off the debt that drops to about 1660 a month to pay everything off in 5 years. If you don't need a car to get to work you don't need a car, you can save thousands on insurance, rego, running costs by ditching it completely and just using goget when you need a car to get somewhere. You're living in Surrey hills, half your neighbours don't have a car and they cope fine.

    If you sold the skyline, applied 10k to the debt, made the same adjustments to your lifestyle and also paid the running cost savings to the debt (I'm very conservatively estimating $300 a month, it's likely closer to double that) you will be out of debt in just under 3 1/2 years.

    Bankruptcy will screw you for at least 10 years. Facing up to the issue and making changes will be a bit of pain for 3 1/2 years.

  28. #148
    2JZ Starion baby! hcca's Avatar
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    Quote Originally Posted by pathamilton View Post
    Hmmm food for thought Grunt, i appreciate the effort that went into that and will seriously consider living by it other than the car thing.
    will certainly cut down on how often i drive it, one little cruise a week should be ok but other than fuel i dont think a micra etc will save me a whole lot.
    Rego and greenslip is pretty similar from what i have seen, its only trackdays, midnight nasho runs and 300 dollar tyres which blow costs out on the skyline.
    All things i can curtail till things improve.

    seriously...dont take away the 'line...its all i have left!
    Sell it and regard it as a "stupid shit i've done with my life" lesson. We've all spent stupid money on cars, but it's bullshit unless you can really afford it, which you can't. I hated selling my XR6 Turbo and it cost me $6k to get rid of it because I owed more than it was worth, but I worked it out and it would have cost me $30k MORE than that to keep it for the next 3 years. Racking up credit cards modding your car has to stop if you ever want to get anywhere.

    Cut your losses and move on - you'll get some cash to pay off at least some of your debt and believe it or not, that will actually give you a sense of achievement.

    Sell the fucking car. It's a car. There are more important things in life.

  29. #149
    Kebab expert dattodude's Avatar
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    Old mate needs to realize he is in debt.

    He's not poor, he is poorer than a starving Somalian.
    Everything he owns and everything he earns belongs to someone else.

    Bankruptcy is not a lifeline, it's a financial jailterm.

    To the OP, You need to cut off the net and mobile. Pay the exit fee pay. I'm sure the breakfree cost is less than the minimum cost.

    You also need to be working weekends. If you work hard, you won't have time to spend money.

    Good I can see it's not all your fault, so good luck!

  30. #150
    あなたの母親の肛門 Shifty's Avatar
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    Quote Originally Posted by Cplus View Post
    it doesn't.

    but it does effect the insurance companies opinion on your ability to manage your financial affairs (ie: risk to pay premium) and the risk of you trying to defraud your insurance to "claw back" in life via a dodgy claim.

    isn't that fucking obvious?
    also bankrupt = people you owe money = car vandalised....
    bankrupt = no money = can't service car = more likely to crash / worse crash / low value but high insured value
    Quote Originally Posted by 350stato View Post
    100% agree with Shifty

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