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Tilly Hun


I do think as Anthony Robbins says "whats the benifit of this problem"


Because your house has been sold before you go Crupt,



  1. You will now be able to write off any amount of shortfall. If you hadnt of sold they would have crupted you and then asked for the 65k after your were crupt.
  2. The housing market has crashed, means that you would like most people would have lost a large part of any equity or all of it. So going crupt now will mean no negative equity for you.
  3. By going crupt you walk away with no debt in a recession
  4. By the time the world gets it act together and comes out of reccession you would have completed your crupt and your credit rating will start to repair.
  5. You have learnt a lesson that the world is still to learn, credit even as a mortgage is fantasy, you only really own what u have paid for in cash not borrowed and will run your life with that knowledge. This will be a massive step forward for you and your children.
  6. You will naturally look for ways to do things without borrowing money, i found this to be a massive inspiration.
  7. You now know the rules of the game, so when you are ready to buy a house again, and you will be hun, you will be way ahead of the game.

As i have said before, if your going to do it, get it done so that your recovery is in line with the economy.


good luck




ps a little trick worth doing :)


add up all your payemtns you should be making each month if you continued to pay your debts before selling your house.


take the monthly payments and multiply them by 12 months then 6 years.


thats how much money your are saving over the next 6 years.


And if the payments are credit cards interest only, it means you have saved money for years to come.


Makes you feel like its worth it for the saving alone.



Edited by Fiscalawareness
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