On Fri, 24 May 2013 22:13:20 -0700 (PDT), harry wrote:
>> You're lucky, my son is the spendthrift that his mother (my ex-wife)
>> always was (money=water). He's now 36.
SWMBO'd got herself into trouble with a Credit Card (or two) several
years before I met her (CC = not real money). She learnt her lesson
though and hardly uses CCs now. Cash or DC.
>> What really pisses me off is that a 'friend' of mine was 30k in debt
>> and got it written off. WTF?
>
> How did (s)he manage that then?
Probably an IVA (Individual Voluntary Arrangement). If the creditor(s)
agree they freeze interest on the debt(s) and accept small regular
payments for a few years. Not all of the debt(s) will be paid off, what
remains is written off.
--
Cheers
Dave.