People in debt...
Discussion
I have started reading the moneysavingexpert forums as i would like to increase my savings. They have a debt forum on there (http://forums.moneysavingexpert.com/forumdisplay.html?f=76) and it really amazes me how bad some of these people are! There are so many people with £25k+ of credit card debt who can't afford minimum repayments, that still think £60+/month on Sky is affordable 
Do people really get so confused by finances? really, it's not that hard is it?
Do people really get so confused by finances? really, it's not that hard is it?You're speaking about my mate off the rigs, aren't you?
Earned £72 grand last year, and has had to take out a 2nd mortgage just to pay off some debts, and all credit cards are still max'ed to their limit...bloody scary!
Here's me earn less than £10 grand a year, and not a drop of debt (yet)
Earned £72 grand last year, and has had to take out a 2nd mortgage just to pay off some debts, and all credit cards are still max'ed to their limit...bloody scary!
Here's me earn less than £10 grand a year, and not a drop of debt (yet)
Penny-lope said:
You're speaking about my mate off the rigs, aren't you?
Earned £72 grand last year, and has had to take out a 2nd mortgage just to pay off some debts, and all credit cards are still max'ed to their limit...bloody scary!
Here's me earn less than £10 grand a year, and not a drop of debt (yet)
Well you either live on bread and dripping or that's your income without child allowance, mchild aintenance and income tax credits Earned £72 grand last year, and has had to take out a 2nd mortgage just to pay off some debts, and all credit cards are still max'ed to their limit...bloody scary!
Here's me earn less than £10 grand a year, and not a drop of debt (yet)
Which is it
Simpo Two said:
It's because of easy credit. 'You want a plasma telly? No problem, sign here and take it home.'
If credit was abolished, there'd be no debt and people would have to save up before buying things. They'd learn the value of money and if they spent it too fast, they'd go hungry.
You have a point Grandad! If credit was abolished, there'd be no debt and people would have to save up before buying things. They'd learn the value of money and if they spent it too fast, they'd go hungry.
Credit was too easy to obtain for a few years.
& Gordy would like to "borrow" ourselves til' after the next election!
Simpo Two said:
It's because of easy credit. 'You want a plasma telly? No problem, sign here and take it home.'
If credit was abolished, there'd be no debt and people would have to save up before buying things. They'd learn the value of money and if they spent it too fast, they'd go hungry.
if credit was abolished nobody would have anythingIf credit was abolished, there'd be no debt and people would have to save up before buying things. They'd learn the value of money and if they spent it too fast, they'd go hungry.
credit/debt isn't bad, there should be no stigma attached, you can use it to your advantage, but you have to use it and misuse it (just like anything else in fact).
credit given too easily
take for example my
brother in law had house repossessed 15 months ago
no family just him on his own
remortgaged house to pay debts
remortgaged again to pay more debts
what were the idiots lending it to him thinking of ?
yes he was to blame in the end for spending / borrowing .but as he said "they let me borrow ,they said I could afford it "
he has no money sense at all !!!!!!!!!!!!!!!!!!!!!!!
ended up 2 mortgages / bank loan /car loan /4 credit cards to the max . total owed £110,000
then he lost his job ,lost house .
trouble now is he's a dole dreamer ,got a flat via housing assosc , gets his dole
and has now wormed his way into his neighbours lives by being very helpful when she was ill
( he was a nurse )
they look after him now when his money runs out
doesn't want to work now lazy git
take for example my
brother in law had house repossessed 15 months ago
no family just him on his own
remortgaged house to pay debts
remortgaged again to pay more debts
what were the idiots lending it to him thinking of ?
yes he was to blame in the end for spending / borrowing .but as he said "they let me borrow ,they said I could afford it "
he has no money sense at all !!!!!!!!!!!!!!!!!!!!!!!
ended up 2 mortgages / bank loan /car loan /4 credit cards to the max . total owed £110,000
then he lost his job ,lost house .
trouble now is he's a dole dreamer ,got a flat via housing assosc , gets his dole
and has now wormed his way into his neighbours lives by being very helpful when she was ill
( he was a nurse )
they look after him now when his money runs out
doesn't want to work now lazy git
MikeyT said:
Penny-lope said:
You're speaking about my mate off the rigs, aren't you?
Earned £72 grand last year, and has had to take out a 2nd mortgage just to pay off some debts, and all credit cards are still max'ed to their limit...bloody scary!
Here's me earn less than £10 grand a year, and not a drop of debt (yet)
Well you either live on bread and dripping or that's your income without child allowance, mchild aintenance and income tax credits Earned £72 grand last year, and has had to take out a 2nd mortgage just to pay off some debts, and all credit cards are still max'ed to their limit...bloody scary!
Here's me earn less than £10 grand a year, and not a drop of debt (yet)
Which is it
I work 3 p/t jobs, and yes do get tax help, but no other benefits. And that amount includes it all. Any maintance gets put in an account for my wee lad, for his future.
I just don't believe in having stuff you can't pay for in cash....so no big TV's, flash car's, or leather sofa's
People should not be allowed to file for bankruptcy, the debt is personal so they should be bloody liable for it.
Typical of todays " have it now pay tomorrow" scroungers.
I dont disagree with finance or loans, just there are too many that think they can simply up sticks and start again leaving others out of pocket.
Also I think part of the blame lays with the introduction of bank cards.
I have probably 10 cards, debit,credit etc in my wallet. No cash, just cards.
If we all had to carry the money we could spend with us, you'd see when you were down to your last fiver. Not now, its when you either check online or get a letter from the bank that youre over your overdraft limit.
Cash is no longer king, plastic is fantastic, debt should be something you keep until repaid. Because people now dont have so much contact with cash, it somehow seems easier to spend when its handing over a piece of plastic.
Typical of todays " have it now pay tomorrow" scroungers.
I dont disagree with finance or loans, just there are too many that think they can simply up sticks and start again leaving others out of pocket.
Also I think part of the blame lays with the introduction of bank cards.
I have probably 10 cards, debit,credit etc in my wallet. No cash, just cards.
If we all had to carry the money we could spend with us, you'd see when you were down to your last fiver. Not now, its when you either check online or get a letter from the bank that youre over your overdraft limit.
Cash is no longer king, plastic is fantastic, debt should be something you keep until repaid. Because people now dont have so much contact with cash, it somehow seems easier to spend when its handing over a piece of plastic.
x type said:
credit given too easily
take for example my
brother in law had house repossessed 15 months ago
no family just him on his own
remortgaged house to pay debts
remortgaged again to pay more debts
what were the idiots lending it to him thinking of ?
yes he was to blame in the end for spending / borrowing .but as he said "they let me borrow ,they said I could afford it "
he has no money sense at all !!!!!!!!!!!!!!!!!!!!!!!
ended up 2 mortgages / bank loan /car loan /4 credit cards to the max . total owed £110,000
then he lost his job ,lost house .
trouble now is he's a dole dreamer ,got a flat via housing assosc , gets his dole
and has now wormed his way into his neighbours lives by being very helpful when she was ill
( he was a nurse )
they look after him now when his money runs out
doesn't want to work now lazy git
Is this written in the form of a haiku or something? take for example my
brother in law had house repossessed 15 months ago
no family just him on his own
remortgaged house to pay debts
remortgaged again to pay more debts
what were the idiots lending it to him thinking of ?
yes he was to blame in the end for spending / borrowing .but as he said "they let me borrow ,they said I could afford it "
he has no money sense at all !!!!!!!!!!!!!!!!!!!!!!!
ended up 2 mortgages / bank loan /car loan /4 credit cards to the max . total owed £110,000
then he lost his job ,lost house .
trouble now is he's a dole dreamer ,got a flat via housing assosc , gets his dole
and has now wormed his way into his neighbours lives by being very helpful when she was ill
( he was a nurse )
they look after him now when his money runs out
doesn't want to work now lazy git
moneysavingexpert.com - Being in serious schtuck with creditors matters!
s.m.h. said:
People should not be allowed to file for bankruptcy, the debt is personal so they should be bloody liable for it.
Trouble is that it becomes punitive. You end up with a situation that the interest increases faster than you can repay it and the person simply does a runner. Or tops themselves. It also rather harsh on people where circumstances suddenly change for the worse. How would you feel if you became ill, couldn't service a small debt, the debt increases in size to the point that you will never ever pay off that debt for instance?The key is for lenders to be more responsible.
s.m.h. said:
People should not be allowed to file for bankruptcy, the debt is personal so they should be bloody liable for it.
I suspect suicides would go up!!!s.m.h. said:
Cash is no longer king, plastic is fantastic, debt should be something you keep until repaid. Because people now dont have so much contact with cash, it somehow seems easier to spend when its handing over a piece of plastic.
Im pretty sure one of my lecturers was saying that in some/many tokyo(or possibly somewhere around those parts of asia) shops give discount for paying by card rather than cash, and over there some factions would prefer a card currency to paper cash, and abolish it completely....!!! almost a bit scary but I dont know why!
DangerousMike said:
Simpo Two said:
It's because of easy credit. 'You want a plasma telly? No problem, sign here and take it home.'
If credit was abolished, there'd be no debt and people would have to save up before buying things. They'd learn the value of money and if they spent it too fast, they'd go hungry.
if credit was abolished nobody would have anythingIf credit was abolished, there'd be no debt and people would have to save up before buying things. They'd learn the value of money and if they spent it too fast, they'd go hungry.
credit/debt isn't bad, there should be no stigma attached, you can use it to your advantage, but you have to use it and misuse it (just like anything else in fact).
Matt.. said:
I have started reading the moneysavingexpert forums as i would like to increase my savings. They have a debt forum on there (http://forums.moneysavingexpert.com/forumdisplay.html?f=76) and it really amazes me how bad some of these people are! There are so many people with £25k+ of credit card debt who can't afford minimum repayments, that still think £60+/month on Sky is affordable Do people really get so confused by finances? really, it's not that hard is it?
Worst "i'm better than people in debt" thread ever Do people really get so confused by finances? really, it's not that hard is it?Gassing Station | The Pie & Piston Archive | Top of Page | What's New | My Stuff