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Panorama: Can't Pay, Won't Pay
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People need to take responsibility for their finances and be sensible otherwise one day it might just go horribly wrong for them.Seriously, how can people claim they've been had, everyone knows what their earnings are and shouldn't get themselves in a situation where it's impossible to pay their debts. You want something either save up or take on credit you know you can afford!
You make the decision to borrow so just pay it back instead of looking for some clause that lets you walk away scot free. Some people just have no morals and couldn't give a toss about the implications for everyone when they default.0 -
Hang on, throwing credit at us?
A large amount of people who post on this forum cant even get credit, certain people spend their days applying for credit like it is some form of "mental disorder", banks do not throw credit at people, they invite them to apply and or use a credit facility ergo it the responsibility of the customer to decide weather they can afford it or not.never-in-doubt wrote: »why didn't the people throwing credit at us take into account that one day, a small change could affect their ability to repay? It didn't enter their minds as so my point remains the banks are responsible - not the customers.Since when has the world of computer software design been about what people want? This is a simple question of evolution. The day is quickly coming when every knee will bow down to a silicon fist, and you will all beg your binary gods for mercy.0 -
The customer bears absolutely no responsibility for the money they borrowed? Come on, the banks don't know everything about borrowers lives, and their total debt burden before they lend. Borrowers have to take responsibility for their actions, and not blame the banks.
Of course the banks know their debt burden - credit checks tell them this but did they take notice, ermmm - nope! Ask Northern Rock.
So you have a great job, surely you are saving now to cover for the rainy days/lost job/illness and unable to work? Or are you just spending it and planning to default if something does go wrong?
No I am not spending it to default - I am debt free remember but just fully support unenforceability! I have insurance in case of illness, I have savings already, I have a lot of equity, I have a job!Just because the banks did not check does not mean it is not illegal. obtaining money by deception is a crime. But then of course its the banks fault the lender lied to borrow money, isn't it?
Yes it is the lenders fault - did you miss all the hype in 2005 - 2008 where all financial advisers were slated for offering and mis-selling these mortgages cos they actively encouraged people to lie about their earnings. If you search google you'll see plenty about this so yea, I do blame the banks and their appointed advisers.The bank trusted you, and your projections, how is it their fault that your projections were wrong? Should they employ a team of business experts to see if the finances of company owners are up to paying back what they want to borrow for a house? The fees on your loans would be astronomical if they did.
They should do more checks and demand to see paperwork - the mortgage system is a joke and easy to fiddle, or lie - not that I encourange this but it happens all over and again, yes I think they should spend more time per application and less time worrying about profits. After all a house purchase doesn't happen overnight - it takes time (time the banks should have been using more wisely!) :cool:We can't go eleswhere, rates are high everywhere. You said it yourself here:
How much of the 7.9% best rate available is going to bosses bonuses, and how much to cover defaults do you think? I think the banks pay out more each year to cover irresponsible borrowing than the pay in bonuses.
They do not pay out to cover unenforceability (that is the legal term may I remind you!), you obviously don't understand banking so i'm not even going to elaborate on that but if you decide to learn it then you'll see exactly where the losses come from!I think you have a naive attitude towards money and borrowing, and need to take responsibility for your actions, and not just blame the banks.
Excuse me - who are you to tell me about my financial affairs? I am actually debt free, solvent, and doing great! I fight for others that have been skanked by the banks - I don't have any debt so please get your facts right before judging people so wrongly..... :rotfl::rotfl:
To finish, the banks are to blame, are you missing the news? Ermmmm - The Chancellor is making changes and tighter regulation to stop the banks causing another recession! My word - preach without the facts or what! Take the blinkers off and read the news!
2010 - year of the troll
Niddy - Over & Out :wave:
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never-in-doubt wrote: »Of course the banks know their debt burden - credit checks tell them this but did they take notice, ermmm - nope! Ask Northern Rock.
No I am not spending it to default - I am debt free remember but just fully support unenforceability! I have insurance in case of illness, I have savings already, I have a lot of equity, I have a job!
Yes it is the lenders fault - did you miss all the hype in 2005 - 2008 where all financial advisers were slated for offering and mis-selling these mortgages cos they actively encouraged people to lie about their earnings. If you search google you'll see plenty about this so yea, I do blame the banks and their appointed advisers.
They should do more checks and demand to see paperwork - the mortgage system is a joke and easy to fiddle, or lie - not that I encourange this but it happens all over and again, yes I think they should spend more time per application and less time worrying about profits. After all a house purchase doesn't happen overnight - it takes time (time the banks should have been using more wisely!) :cool:
They do not pay out to cover unenforceability (that is the legal term may I remind you!), you obviously don't understand banking so i'm not even going to elaborate on that but if you decide to learn it then you'll see exactly where the losses come from!
Excuse me - who are you to tell me about my financial affairs? I am actually debt free, solvent, and doing great! I fight for others that have been skanked by the banks - I don't have any debt so please get your facts right before judging people so wrongly..... :rotfl::rotfl:
To finish, the banks are to blame, are you missing the news? Ermmmm - The Chancellor is making changes and tighter regulation to stop the banks causing another recession! My word - preach without the facts or what! Take the blinkers off and read the news!
So, just to get this straight - you dont believe consumers are at fault at all?
No one is saying the banks are not at fault - of course they share some of it. But no one drags you to the bank with a gun to your head and makes you sign do they?
Unfortunately there are a lot of people out there who have simply overspent and now want to get out of it using a loophole. And the sad thing is they won't learn from their mistakes because they are all getting group hugs from each other - see the DFW board.
Of course there are people who get into trouble through no fault of their own such as disability, redundancy etc and they should get all the help possible. But the majority have been greedy, overspent and now expect to be bailed out and for them - no sympathy.0 -
I am suprised you think the bank is responsible for peoples decisions.
Also not suggesting for a second that the banks are totally blameless in all this, but stupid people borrowing too much is the crux of it.
Its a fact that the banks are to blame - look around you, we're in a bloody recession LOL!
The stupid banks not properly auditing peoples finances are to blame, along with certain banks (greed) and certain CEO's (greed). 2010 - year of the troll
Niddy - Over & Out :wave:
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So, just to get this straight - you dont believe consumers are at fault at all?
You got it - the consumers are not to blame. No. The government see this, the experts see this so maybe it's time for you to see thisNo one is saying the banks are not at fault - of course they share some of it. But no one drags you to the bank with a gun to your head and makes you sign do they?
No but when you get to the bank and say 'can I have a loan for £3k' and they turn round and say 'My computer tells me you can have £7k if you want'..... you tell me, anyone that is desperate that would refuse this? Says it all.Unfortunately there are a lot of people out there who have simply overspent and now want to get out of it using a loophole. And the sad thing is they won't learn from their mistakes because they are all getting group hugs from each other - see the DFW board.
Ahh, now this is where I agree with you. If you borrow yea, pay it back - but if there is a legal loophole (or to be correct an unlawful agreement) then the consumer has a right to challenge it, but those seeking money for free need a hard slap. I agree. As for the DFW board, I never go there for that reason amongst others....Of course there are people who get into trouble through no fault of their own such as disability, redundancy etc and they should get all the help possible. But the majority have been greedy, overspent and now expect to be bailed out and for them - no sympathy.
I agree with you again, this is the people I like to help. Those that are taking the p!ss should go away and struggle......... those who were duped though, deserve a chance - don't they? 2010 - year of the troll
Niddy - Over & Out :wave:
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Leanne1812 wrote: »People need to take responsibility for their finances and be sensible otherwise one day it might just go horribly wrong for them.Seriously, how can people claim they've been had, everyone knows what their earnings are and shouldn't get themselves in a situation where it's impossible to pay their debts. You want something either save up or take on credit you know you can afford!
You make the decision to borrow so just pay it back instead of looking for some clause that lets you walk away scot free. Some people just have no morals and couldn't give a toss about the implications for everyone when they default.
I think this whole post is about morals and therefore doesn't even need responding to but just for the record, THE DECISION TO BORROW CAN SOMETIMES BE FORCED OUT OF YOUR HANDS!
Bottom line - come at me with facts instead of ideals and morals. I couldn't give a hoot what you believe in - does everyone want to know about all my morals? No, well then, keep yours to yourself unless they're pertinent to the cause! 2010 - year of the troll
Niddy - Over & Out :wave:
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Hang on, throwing credit at us?
A large amount of people who post on this forum cant even get credit, certain people spend their days applying for credit like it is some form of "mental disorder", banks do not throw credit at people, they invite them to apply and or use a credit facility ergo it the responsibility of the customer to decide weather they can afford it or not.
Yea, you know damn well fine what I mean being you live in the exact same area that has the largest amount of repossessions in the UK due to a local bank screwing over the poor by promising them grandeur that was never realistically possible!
I thought you'd have known this, more than most, being you're slap bang in the middle of it all 2010 - year of the troll
Niddy - Over & Out :wave:
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never-in-doubt wrote: »Yea, you know damn well fine what I mean being you live in the exact same area that has the largest amount of repossessions in the UK due to a local bank screwing over the poor by promising them grandeur that was never realistically possible!
I thought you'd have known this, more than most, being you're slap bang in the middle of it all
So are you saying that most people in that area are idiots?
Seems rather patronising.0 -
never-in-doubt wrote: »THE DECISION TO BORROW CAN SOMETIMES BE FORCED OUT OF YOUR HANDS!
How is that then?0
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