Author Topic: Last minute blitz before sequestration  (Read 1760 times)

Neiljung

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Last minute blitz before sequestration
« on: Jun 24, 2009, 08:25:35 AM »
I am applying for LILA sequestration very soon. Now, an obvious temptation would be to have a wee last minute spend on the credit card cos it's never getting paid back anyway...nothing too extravagant bearing in mind that although I have 30k debt I also have 13k available credit...was thinking just a wee holiday costing say 1k...is this a good idea though and how well would this go down with MBNA and the AiB? I know it's important to keep the AiB onside as they could possibly ask me for a contribution during the 12 months...presumably they deal with dozens of sequestrations a month though so what are the chances of my 1k transaction flagging up...advice pls.

gordonblair81

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Re: Last minute blitz before sequestration
« Reply #1 on: Aug 03, 2009, 09:30:26 AM »
The correct advice for this would be not to spend the money,  i do not advise on continuing to use cards when you are about to apply for LILA.

I would not advise anything else.

Gordon Blair

smallville

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Re: Last minute blitz before sequestration
« Reply #2 on: Aug 03, 2009, 04:13:25 PM »
Hi Neil.
I did laugh at your post. :D
Its more a question of morals really.
You have spent 30K which you are not paying back.
Its really upto to you.
With the money your saving on repayments after wards would this not cover the cost of a holiday?
As I said though its really up to you.

gordonblair81

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Re: Last minute blitz before sequestration
« Reply #3 on: Aug 03, 2009, 04:17:06 PM »
Yes Neil it is down to you at the end of the day really nobody is stopping you from spending the £13K you have avialable but to be honest that is taking the p**s.

I would still not advise on using the cards sorry