Chris Fisher and the Mountain Of Debt
Oct 27th 2009, 4:09 am
#16
Lost in BE Cyberspace
Joined: Aug 2009
Location: Disneyland, Dubai
Posts: 15,887
Re: Chris Fisher and the Mountain Of Debt
Its not nice to read, and I hope meow was not his IFA...
I guess getting into debt in his line of work must be easy...I could imagine it involves a lot of compulsory socializing that's not covered on expenses.
Fair play to him for skipping, would do the same thing in that situation. I wouldn't have sold the story though
I guess getting into debt in his line of work must be easy...I could imagine it involves a lot of compulsory socializing that's not covered on expenses.
Fair play to him for skipping, would do the same thing in that situation. I wouldn't have sold the story though
Oct 27th 2009, 4:30 am
#17
Concierge
Joined: Feb 2007
Posts: 29,625
Re: Chris Fisher and the Mountain Of Debt
Its not nice to read, and I hope meow was not his IFA...
I guess getting into debt in his line of work must be easy...I could imagine it involves a lot of compulsory socializing that's not covered on expenses.
Fair play to him for skipping, would do the same thing in that situation. I wouldn't have sold the story though
I guess getting into debt in his line of work must be easy...I could imagine it involves a lot of compulsory socializing that's not covered on expenses.
Fair play to him for skipping, would do the same thing in that situation. I wouldn't have sold the story though
Oct 27th 2009, 4:35 am
#18
Account Closed
Joined: Oct 2007
Posts: 1,130
Re: Chris Fisher and the Mountain Of Debt
I think it was very brave of him to tell his story and admit his mistakes - it can only benefit those who are either getting into or are already in that situation. Even if it encourages a few people to seek help or do something about the mess they're in. I think more of these stories should be publicised, it's a great way to get through to people and show them how it easy it is to get into the same situation if they're not sensible.
Oct 27th 2009, 4:51 am
#19
BE Forum Addict
Joined: Jun 2008
Posts: 2,094
Re: Chris Fisher and the Mountain Of Debt
dodgy business to be in especially in this part of the world, could be out on your ear at a minutes notice
can't imagine how a single fella managed to rack that much debt up though, always seemed a nice fella when I met him but obviously a bit naive.
can't imagine how a single fella managed to rack that much debt up though, always seemed a nice fella when I met him but obviously a bit naive.
Oct 27th 2009, 6:59 am
#20
BE Enthusiast
Joined: Sep 2006
Location: The Island of love
Posts: 882
Re: Chris Fisher and the Mountain Of Debt
I find it really sad that someone can live in Dubai for 10 years and leave penniless and in huge financial debt. Idiots who've been there for a year, rented the biggest villa they can find, bought a brand new Range Rover Sports, put their kids into the most expensive schools etc, they will rack up debts very quickly unless they are on an all inclusive package - but after 10 years - that much debt and no savings ? That is really sad.
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Oct 27th 2009, 7:18 am
#21
Lost in BE Cyberspace
Joined: Aug 2009
Location: Disneyland, Dubai
Posts: 15,887
Re: Chris Fisher and the Mountain Of Debt
I find it really sad that someone can live in Dubai for 10 years and leave penniless and in huge financial debt. Idiots who've been there for a year, rented the biggest villa they can find, bought a brand new Range Rover Sports, put their kids into the most expensive schools etc, they will rack up debts very quickly unless they are on an all inclusive package - but after 10 years - that much debt and no savings ? That is really sad.
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It says in the article that he blew it on holidays and parties. He knew what he was doing - he just thought it would continue forever.
It's not like he is an Indian laborer who has been promised the earth only to find he was lied to and will go home penniless and exhausted. This guy was earning 50k AED a month and made a decision to spend more than he earnt.
I have one debt in this country, and more than enough cash to cover it if I had to. You just have to live inside your means...
Oct 27th 2009, 7:30 am
#22
BE Enthusiast
Joined: Sep 2006
Location: The Island of love
Posts: 882
Re: Chris Fisher and the Mountain Of Debt
I think it is sad because he thought it would last forever - duh!
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Oct 27th 2009, 8:00 am
#23
Banned
Joined: Feb 2009
Posts: 336
Re: Chris Fisher and the Mountain Of Debt
I find it really sad that someone can live in Dubai for 10 years and leave penniless and in huge financial debt. Idiots who've been there for a year, rented the biggest villa they can find, bought a brand new Range Rover Sports, put their kids into the most expensive schools etc, they will rack up debts very quickly unless they are on an all inclusive package - but after 10 years - that much debt and no savings ? That is really sad.
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for and which he wants to hang on to but only until the market recovers.
Then, no doubt, he will sell it and pay his debts.
Oct 27th 2009, 8:38 am
#24
MODERATOR
Joined: Dec 2004
Location: Dubai
Posts: 6,370
Re: Chris Fisher and the Mountain Of Debt
He's not the only person to never listen to friends and those who know better...and I'm sure he won't be the last.
N.
Oct 27th 2009, 11:58 am
#25
Concierge
Joined: Feb 2007
Posts: 29,625
Re: Chris Fisher and the Mountain Of Debt
Why is it sad?
It says in the article that he blew it on holidays and parties. He knew what he was doing - he just thought it would continue forever.
It's not like he is an Indian laborer who has been promised the earth only to find he was lied to and will go home penniless and exhausted. This guy was earning 50k AED a month and made a decision to spend more than he earnt.
I have one debt in this country, and more than enough cash to cover it if I had to. You just have to live inside your means...
It says in the article that he blew it on holidays and parties. He knew what he was doing - he just thought it would continue forever.
It's not like he is an Indian laborer who has been promised the earth only to find he was lied to and will go home penniless and exhausted. This guy was earning 50k AED a month and made a decision to spend more than he earnt.
I have one debt in this country, and more than enough cash to cover it if I had to. You just have to live inside your means...
Oct 28th 2009, 6:18 pm
#28
why ayeeeee man!
Joined: Jan 2008
Location: Disco Gardens...
Posts: 11,370
Oct 29th 2009, 10:54 am
#29
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Oct 30th 2009, 3:55 am
#30
Confirmed grumpy old man
Joined: May 2005
Location: Moved back to Riyadh KSA 2016
Posts: 1,298
Re: Chris Fisher and the Mountain Of Debt
[QUOTE=EmiratesMillhouse;8047847]Why is it sad?
It says in the article that he blew it on holidays and parties. He knew what he was doing - he just thought it would continue forever.
It's not like he is an Indian laborer who has been promised the earth only to find he was lied to and will go home penniless and exhausted. This guy was earning 50k AED a month and made a decision to spend more than he earnt.
I have one debt in this country, and more than enough cash to cover it if I had to. You just have to live inside your means...[/QUOTE]
I fully understand the need for Chris Fisher (and others) to do a runner because of the irrational approach to debt in the UAE.
However, without wanting to appear a schadenfreude (sp?) or a know all, I have to agree with Millhouse. He has taken an irresponsible approach to handling money, maybe through naievity, foolishness, maybe through greed, who knows.
I earn a good salary by UK standards, and keep within my means despite the temptations to b low it all away. The total costs of the debts incurred by people like CF will ultimately affect a lot of other people and not just themselves.
Regards his receiving benefits in the UK, he isnt getting a great deal of cash and isnt getting free council accomodation, so no big deal. He has to survive.
Regards his house in Cyprus, once it goes back into positive equity, will he sell it to pay off his debt, I doubt it.
It says in the article that he blew it on holidays and parties. He knew what he was doing - he just thought it would continue forever.
It's not like he is an Indian laborer who has been promised the earth only to find he was lied to and will go home penniless and exhausted. This guy was earning 50k AED a month and made a decision to spend more than he earnt.
I have one debt in this country, and more than enough cash to cover it if I had to. You just have to live inside your means...[/QUOTE]
I fully understand the need for Chris Fisher (and others) to do a runner because of the irrational approach to debt in the UAE.
However, without wanting to appear a schadenfreude (sp?) or a know all, I have to agree with Millhouse. He has taken an irresponsible approach to handling money, maybe through naievity, foolishness, maybe through greed, who knows.
I earn a good salary by UK standards, and keep within my means despite the temptations to b low it all away. The total costs of the debts incurred by people like CF will ultimately affect a lot of other people and not just themselves.
Regards his receiving benefits in the UK, he isnt getting a great deal of cash and isnt getting free council accomodation, so no big deal. He has to survive.
Regards his house in Cyprus, once it goes back into positive equity, will he sell it to pay off his debt, I doubt it.