How would you react.

[Spirit of Light]

I'm not sure that your response adequately addresses the questions inherent in my post.

I am the person in trouble, I am the one who will be put under governmental takeover of my money....

 

[Debater Slayer]

Hopefully this is not a situation you are in, or will face at any moment in your life.

But how would you yourself react if you got in to a financial proplem unable to pay your bills, mostly only being able to buy food for your self each month, getting in to debt deeper and deeper.

Then you get a phonecall from a governmental office, requesting to help you but on one condition.

They will get in charge of your own personal income, and fix your financial issues for you while you only get enough money to buy food for you and your pet if you have one.

What would your reaction be?

I would probably be grateful to live in a country with such robust social security, and I'd also think about what I could do to improve my situation and become financially independent again.

 

[Jayhawker Soule]

I am the person in trouble, I am the one who will be put under governmental takeover of my money....

So? Should I have a different answer if the person was your third cousin once removed? My response was:

You are asking us to assume that your description of the situation is accurate and balanced, and that the phone call is legitimate. Given those assumptions, I would likely (and begrudgingly) thank them for their clearly needed assistance.

It seems reasonable to me.

 

[Revoltingest]

What would your reaction be?

"I'm from the government, & I'm here to help."
Extreme skepticism.

 

[Yerda]

I think I'd go for it.

 

[Spirit of Light]

I think I'd go for it.

I did too

 

[Yerda]

I did too

Good luck. Debts are stressful, I hope you can be rid of them soon!

 

[fantome profane]

Hopefully this is not a situation you are in, or will face at any moment in your life.

But how would you yourself react if you got in to a financial proplem unable to pay your bills, mostly only being able to buy food for your self each month, getting in to debt deeper and deeper.

Then you get a phonecall from a governmental office, requesting to help you but on one condition.

They will get in charge of your own personal income, and fix your financial issues for you while you only get enough money to buy food for you and your pet if you have one.

What would your reaction be?

I would be asking a lot of questions, doing research, nailing down the details of such an offer. Before agreeing to such a deal I would want to know how long it would continue, how I can get out of the deal and regain control of my finances.

Many decades ago I did something called a "consumer proposal" which is kind of like declaring bankruptcy but not quite. I wiped out a portion of my debt and put me on a single payment plan for the rest. But it was only for a finite number of weeks. There was a way out.

Now today, I am not a rich man but my finances are ok and my credit is excellent.


So if this is a real situation for you, my recommendation is make sure you have a way out.

 

[Spirit of Light]

I would be asking a lot of questions, doing research, nailing down the details of such an offer. Before agreeing to such a deal I would want to know how long it would continue, how I can get out of the deal and regain control of my finances.

Many decades ago I did something called a "consumer proposal" which is kind of like declaring bankruptcy but not quite. I wiped out a portion of my debt and put me on a single payment plan for the rest. But it was only for a finite number of weeks. There was a way out.

Now today, I am not a rich man but my finances are ok and my credit is excellent.


So if this is a real situation for you, my recommendation is make sure you have a way out.

I was in a meeting yesterday and was informed about what it mean, and how i affect my life for some time

I going for it because I am tired of having this difficult situation every day.

 

[RestlessSoul]

I am the person in trouble, I am the one who will be put under governmental takeover of my money....

Can you get some independent advice first, perhaps from a charity or support group? It’s worth at least knowing what your options are, before making such an important decision.

I started my long journey out of debt by talking to my creditors; at first I was too scared to even do that, but they can’t put you in prison for debt in any European country that I’m aware of, so what’s to fear? The main thing is, make sure your rent is paid, even before food. You can eat in the street, but you don’t want to sleep in the street.

Good luck man. God be with you, try not to fear.

 

[Spirit of Light]

Can you get some independent advice first, perhaps from a charity or support group? It’s worth at least knowing what your options are, before making such an important decision.

I started my long journey out of debt by talking to my creditors; at first I was too scared to even do that, but they can’t put you in prison for debt in any European country that I’m aware of, so what’s to fear? The main thing is, make sure your rent is paid, even before food. You can eat in the street, but you don’t want to sleep in the street.

Good luck man. God be with you, try not to fear.

Thank you @RestlessSoul

I have started the long journey of taking phonecalls to creditors yes, but my creditscore is mostly to low to get a deal with them at this point of time, therefor is for me to make a deal with the governmental office a better option.

Yes i will "lose" the right to my own money for a lenghty time, but just knowing i am on the right track is good.
Asking for help is not something i normally do, so i had to jump on this chance when i got it

The money i will get that i can use are only meant for food and travel to work. In the end of this deal i am making, there will be a chance to get a full time job for me, so my finances will hopefully become livable soon.

 

[Spirit of Light]

An other they asked me was "How can you keep being so positive in a situation like this?"
All i could say was, I have to keep my hopes up that one day i be debt free and getting a normal life again. I have to be strong, if not i be on the street soon. And that is not an option.

 

[fantome profane]

An other they asked me was "How can you keep being so positive in a situation like this?"
All i could say was, I have to keep my hopes up that one day i be debt free and getting a normal life again. I have to be strong, if not i be on the street soon. And that is not an option.

Good luck.

 

[Spirit of Light]

Good luck.

Thank you