Catch Me If You Can They Did, After Three Years

By: hasimbham

Back in 1990 when the property market fell, the bank base of interest was 23%. I was stuck with three properties. I had 30% of my money in each property, and 70% from a bank loan. The market would drop to 40% - lower than the basic market value. If I sold all three properties I would still have to pay back the bank loan, which I did not have. I had no choice but to walk away from all this. I rented a private home and returned all three property keys to the bank in sealed envelopes with a letter, but without my forwarding address. I knew they would lose money. "Catch me if you can", I thought. They would want to look for me. I had lost everything, but I was not the only one - everyone was going to be a loser.

My fear of getting caught gave me a hard time for three years. Then one day I got a visitor from the bank, and then a summons from the court. When they screened me I told them I had "F-all" for them and that they should drop the idea for bankruptcy. That, I thought, would be a wise decision because they would avoid further losses on their part.

All I had to do was to declare and submit that I had nothing - no assets, no income, three children, responsibility, a rental home, a second-hand car, non designer underwear, unpaid bills, and halal chicken and past. This was good enough for them and I did not see them again. Since then the sun began shining. The colours of happiness in my life grew to be king-sized.

Why did I run from my fear? Why did I not declare on the very day I returned the key? Why? Because I did not have the internet. I did not have an article directory. I did not have guidance.

Thank you for your visit.

Article Source: http://yourfinance.co.za

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