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[The Sheriff]

I can see trouble ahead for large numbers of people....again. How long is it since the biggest financial crash/credit crunch since the Great Depression? 8 years?
I got an email today telling me that my credit card limit had been raised to £13000. My bank have always made  £5000 over draught available to use as I please, and last week sent a letter saying that there was a loan waiting for me......£30000 over 60 months at blah blah apr.......just click the button and it's in the account within five minutes. Computer says yes....


That's £48000..........£48000......a very big number which means absolutely nothing to me. Numbers on a page, that's all...............with the potential to ruin our lives. It's sick.

[chrisgixer]

yeeeah, very sympathetic Steve.

[The Sheriff]

Oh go on, rub it in!

Obviously, that was not the intention......but I can see how easy it would be for someone to say now, as they said a few short years ago, 'they are offering so I must be able to afford it '.

[The Sheriff]

yeeeah, very sympathetic Steve.

You weren't quick enough...which is unusual for you 

[chrisgixer]

Nahbuggered that up. Move along move along, nothing to see here 

[steve6367]

It's an interesting one, it has been and continues to be cheap to borrow - does the responsibly (moral) not the legal responsibility that lenders have not rest with the borrower?

[The Sheriff]

It's an interesting one, it has been and continues to be cheap to borrow - does the responsibly (moral) not the legal responsibility that lenders have not rest with the borrower?

Of course, but my point is that the greedy bastards are at it again and, knowing human nature, they shouldn't be. It's just a vicious circle.....only it's getting to be a very short circle.

[The Sheriff]

Oh.....and just before I get my head down....I can't afford to borrow £48000.....but they don't care about that...do they? Bastards.

[tunnie]

The only loans I've ever had are student (government) and mortgage, I intend to avoid any others, if I can.

I have a credit card, but that's paid off in full every month. But they offer an ever increasing stupid credit limit.

It's not free money, you are locked in. Bank loans have most freedom I guess, but car HP for example are really bad way to buy.

Best to plan ahead, I'm saving into number of share save schemes. When these mature, that's my pot for new cars. Buy cash, buy only what you can afford with money you have, not what you can borrow.

[Shackeng]

The only loans I've ever had are student (government) and mortgage, I intend to avoid any others, if I can.

I have a credit card, but that's paid off in full every month. But they offer an ever increasing stupid credit limit.

It's not free money, you are locked in. Bank loans have most freedom I guess, but car HP for example are really bad way to buy.

Best to plan ahead, I'm saving into number of share save schemes. When these mature, that's my pot for new cars. Buy cash, buy only what you can afford with money you have, not what you can borrow.

 

[chrisgixer]

Borrowing has a place, both personally and in business. The main criteria is that you fit their profile. Which they won't know until you apply. Spam doesn't mean you qualify, it just means their trawling. Bit like ppi. They can't possibly know if I have a claim or not, but present that I do so that I contact them.

I know I haven't had ppi, and I know what i can afford to re pay. Or not, as the case may be. Proof is in the application.

Apply Steve, see what they agree.

[The Sheriff]

Borrowing has a place, both personally and in business. The main criteria is that you fit their profile. Which they won't know until you apply. Spam doesn't mean you qualify, it just means their trawling. Bit like ppi. They can't possibly know if I have a claim or not, but present that I do so that I contact them.

I know I haven't had ppi, and I know what i can afford to re pay. Or not, as the case may be. Proof is in the application.

Apply Steve, see what they agree.

Apply for what exactly? The over draught is there, the credit card limit is there, the pre-approved loan is just a touch of a mouse button away......I've done it before. As usual, you post what you think are the facts, but no......only the what you think are the facts.

Just to prove I'm right, I'll get into severe debt, that'll prove my point.
Edit: just noticed you put they won't know my profile till I apply. Do you think thirty years with the same bank might give them a clue?

[GastronomicKleptomaniac]

Car finance was the start of a slippery slope for me, nearly ten years ago. I'm still juggling things to sort myself out now. No ones fault but mine, wanting shiny things I couldn't realistically afford, but the credit was there.

[The Sheriff]

Car finance was the start of a slippery slope for me, nearly ten years ago. I'm still juggling things to sort myself out now. No ones fault but mine, wanting shiny things I couldn't realistically afford, but the credit was there.

It's a hard lesson to learn, but at least you're sorted now and probably a lot wiser for it.

[The Sheriff]

When I was in my late teens and early twenties, I took out two biggish loans. Couldn't afford to pay them back,so didn't. Threw all the letters in the bin and, after a while, they went away.
That doesn't happen in the electronic age though, they can find you.....