BBC Whistleblower on banks

Looks like an interesting programme, from our viewpoint putting profit before the public's interest is wrong - but unfortunatly thats big business for ya.

People's attitude to borrowing and debt is also a reason for the high increase in debt problems - the banks may be giving the money away to people but they are not forcing people to spend it!!

Until people realise that the banks are not our friends looking after our interests the problems with debt will continue.

zincoxide wrote:

Click here to read

The actual TV show is on 5th June (Monday) at 09:15 on BBC1.

A banking 'insider' tells us what we already know - would it not be better to expose the routes that those in debt can take to get themselves out of the debt and put the onus back on tha banks?

At the age of 18, I was already in £24k of debt due to banks & credit card companies, sure looking back I obviously was very niave but the banks certainly were not and I think they are the ones that should be made to pay for irresponsible lending. :mad:

Discuss......

Yes,my nephew who is 18 has now got debts of 15k due to a car loan,Really tried to talk him out of it but no good.

BTW on the subject of these (illegal) bank charges, are there any tips about how people can avoid getting into this problem again after they've claimed back the charges?

What's the best way to operate your bank account to avoid these problems - even a charge of 12 quid is going to mount up if you get a lot of them?

Can you get a free and reasonably high agreed overdraft limit?

Is it a good idea to "stagger" direct debits and standing orders over the month to avoid several of them getting triggered at once if there's an unexpected delay in crediting a salary payment?

Can the internet help in managing bank account charges? How importnat is self discipline and vigilance?

Are there any "good" banks that don't levy these rapacious computerised charges?

What other tips do people have for savvy bank charge avoidance measures?

when is this programme on - the BBC one?

it says New tricks is on at 9pm?

savvy wrote:

LOL why are you trying to avoid my bank charges?;):p

Missed that one.Savvy by name......;)

Maybe it would be useful for Martin to do an article with helpful tips on charge avoidance?

After all, if people are going to be able to make a fresh start after claiming their money back, a few guidelines could go a long way to helping them stay out of the net in future....

If banks can see people are making a real effort, they have much less excuse to load on the charges in future - they do after all say the idea is not to profit out of people's financial difficulties, but to deter people from overdrawing without permission and other account mismanagement.

So people should take them at their word.