Are YOU responsible for your spending & debt?

babyharry5

ZTD wrote: »

I mentioned advice (along with hairdressers) to show banks are not liable for their advice unlike other businesses.

I mentioned PPI (along with the resturant) to show that banks when they are out-and-out fraudulent are not punished in the same way as other businesses are.

When you said go the the ombudsman I though you were referring to the advice part. My apologies.

But, if you want to go with PPI. Who has been jailed for the PPI scandal? Or indeed, for any mis-selling scandal - pensions, insurance etc?

This is, after all, a long-term and persistant pattern of offending.

The banks were deemed to be helpful and friendly folks in the good old days - but like most things shareholders and profit has taken over.
The banks are big business and unfortuntately I agree that they get away with murder!
The sales techniques employed by the so called big banks are disgusting ( I am talking from experience)
We were taught to sell PPI as a package - additional insurances on top accident illness life etc and then the bank would charge the poor people interest on top of that!
The only people that I feel sorry for are those that are not the most intelligen and I mean that in the nicest possible way.
Our branch Manager used to love it when we had certain customers in because they were so financially unaware that you could sell them anything and they would buy anything because they trusted you.
Our bank was only interested in targets and would use any technique ( lawful or not) to achieve them.
I spoke to our auditors branch managers and higher, and eventually after years of fighting was pushed out and left.
People are making big money and until the big rewards/cash for this type of sale cease then nothing is going to change.

babyharry5

PROLIANT wrote: »

Take the car off them; give them a mop and a sweeping brush get them earning a living! Mobility my a*se, the woman a couple of doors along has a very nice people carrier on mobility to ferry her sproggs around in, yet she is always shopping and carrying around heavy items, what is wrong with her? Lazy !!!!ard syndrome, this is not fair and these people are allowed to get away with it, "ooooh my back is in agony, I can’t get around very well" then why are you sitting in the bar everyday spending MY TAX CONTRIBUTIONS! I am now so wound up this is a sore subject for me sorry about the rant.

SO SPOT ON - I THOUGHT I WROTE IT!

ZTD

babyharry5 wrote: »

The banks were deemed to be helpful and friendly folks in the good old days - but like most things shareholders and profit has taken over.

When exactly were these "good old days"? :eek:

babyharry5

ZTD wrote: »

When exactly were these "good old days"? :eek:

I'm not old enough to know - but way back yonder!:rotfl:

penguin83

I am probably one of a minority who are actually grateful for the banks/financial institutions lending us money!

We went through a really difficult time financially in 2002/2003 and without these loans/credit cards we would have lost our house and wouldnt have been able to eat. We knew the situation would be short term and now 5 years on are making inroads into our debt rather than just treading water. It may not have been the ideal situation and will plan better for the future if that situation ever arose again but I am 100% responsible and weirdly quite enjoying finally being able to pay it back! x x

kel123_2

The good old days were when it was personal. the bank manager looked after the customer, No I don't mean here have more money, That sat down with you and worked it out and said no if they thought you would get into trouble. In 1985 our local Natwest manager told us he was getting out because this and that was happening and so it came to pass, exactly what he said has come true (he was old school trained). so this isn't a new thing it was planned and executed over time.

I have been in a position of being told donot say this because it will stop this happening, so DID's ex may have told the truth but was told to omit it.

Buffythedebtslayer

I am grateful they lent me the money cos otherwise I wouldnt have been able to go to Uni and have the job i have now.

I am annoyed with myself for not being more money savvy, but at home money was never talked about and I never went with out ever so that is how i live - I want it I have it, and hence the prolonged debtness I am in now!

I don't Like the day time tv ad that make everything sound GREAT and easy and I think people forget banks are a business they want to make money, end of. you must always be careful.

xx

ZTD

kel123 wrote: »

The good old days were when it was personal. the bank manager looked after the customer, No I don't mean here have more money, That sat down with you and worked it out and said no if they thought you would get into trouble. In 1985 our local Natwest manager told us he was getting out because this and that was happening and so it came to pass, exactly what he said has come true (he was old school trained). so this isn't a new thing it was planned and executed over time.

I have been in a position of being told donot say this because it will stop this happening, so DID's ex may have told the truth but was told to omit it.

You must be thinking of the 70's up to mid 80's.

The banks have never looked after their customers - only themselves. Sometimes their customers' interests coincide with their own - but they're not bothered by that. When money is loose - as it has been - Return On Investment becomes the sole driving force for the banks, so they'll lend to anyone. When money becomes tight - and their survival is at stake - the banks will only lend to the best risks possible as Return Of Investment becomes paramount.

The reason the 70's and 80's were like that, was due to the "Secondary Banking Crisis" of 73. The banks were looking at the long drop on a short rope, and the Government did bail out Natwest.

Now it's called the "Credit Crunch", and the Government has already bailed out Northern Rock...

Plus ça change, plus c'est la même chose.