Warning-Your Home May Be at Risk if You Fail to Pay Even On Un-Secured Debts

ANY_CHANCE

neverdespairgirl wrote: »

To have a chance of being taken seriously by the Powers That Be, a petition needs to be well-written, concise, informative, and in good English. This is none of those.

I agree, a very important issue. But this petition is inadequate.

Are you able to get something together that would help NDG?

ZTD

neverdespairgirl wrote: »

To have a chance of being taken seriously by the Powers That Be, a petition needs to be well-written, concise, informative, and in good English. This is none of those.

I agree, a very important issue. But this petition is inadequate.

You mean like the road-tax one. Over a million signatures and still ignored.

ixwood

ANY_CHANCE wrote: »

Is that aimed at the banks too, reckless borrowing, reckless lending, deceipt etc etc etc :rolleyes:

Yes, in part. Although to be fair, a banks job is to try and make money. Ultimately the responsibility is with the borrower. There's plenty of people that didn't max out with debt. It's just not a clever thing to do.

Ames

ixwood wrote: »

Yes, in part. Although to be fair, a banks job is to try and make money. Ultimately the responsibility is with the borrower. There's plenty of people that didn't max out with debt. It's just not a clever thing to do.

It's not like people set out to be maxed out with debt. Someone could have a perfectly manageable amount of debt and then lose their job, and suddenly it's unmanageable.

And what about people who run up debt as students? The education system is set up to push everyone to uni, the student loan system means that you're automatically in debt, and as student loans don't even pay enough to cover rent you have to end up with some level of consumer debt.

It's just not as simple as you seem to think it is (and a few others I've seen on this forum).

ixwood

Debt is a choice in the vast majority of cases IMHO. Although I do feel sympathy for people where health has been an issue.

Other than a mortgage, I have no debt and that'll be gone ASAP. I could have lived beyond my means and borrowed, but I choose not to. Too many people get offered debt and think it's free money.

What's a perfectly manageable amount of debt? Losing a job is a clear risk for everyone. It's not like it's completely unthinkable or unforeseen. Either you take insurance, live within your means and stay out of debt, or take the gamble.

This is one thing martin is wrong on. All debt is bad debt IMO and to say otherwise is stupid..

The fact that he makes commissions from debt may be a factor, but I'd like to think not.

ixwood

The student debt thing is a tricky one.

I have seen people manage with summer and part time jobs and little debt.

To consider uni, you need to make sure the investment you're making is a good one and not just do it as the done thing. A lawyer, accountant, doctor ect will be amply rewarded upon qualificiation and it'll have been a good investment.

Also, you don't have to repay your student debt unless you;re earning a reasonable wage, so it's not really the same.

I haven't seen anyone on here who's in troule just because of their student loans.

shinyhead

I have to say that I think your opinion is a little too black-and-white.

There are almost as many reasons for getting in financial trouble as there are people. A lot of it is due to the fact that long term planning financially is out of the window and has been for a long time. You can be in a good well paid job and not even be in debt apart from maybe a mortgage then bang, you lose your job and all of a sudden you find yourself with no income. After that it can be downhill from there -and quickly too. Marriage/partnership breakups can have horrendous financial consequences.

Yes there are people out there who've simply maxed their cards out and then shrugged their shoulders and walked away, but IMHO there are far more who've got into debt simply struggling with life's volatility.

I believe the banks MUST take their share of the blame. I can remember when a bank was somewhere where you put money in and if you wanted credit then you had to have an interview with the manager. They would also give advice on your finances if you were struggling to reduce your outgoings. Now they'd, at least until recently, just throw a loan at you that you probably would never be able to repay to consolidate the debts that given careful thought you could have simply rearranged.

Over the last twenty years or so we've been brainwashed into accepting debt as a way of life- just think of future generations who've seen their parents pay for things by sticking a card in a slot rather than handing over cash. My kids when younger simply believed they could have whatever they wanted by me doing exactly that. It took a hell of a lot of undoing!!

ZTD

The growth of debt has been essential for the economy.

This will now be demonstrated.

pandapaws

Just lost a post :mad: !

Anyway, thanks for highlighting this. Hopefully it won't become relevant to me, but it's good info. You guys do a sterling job of helping out with advice to people in trouble and make this forum what it is.

Have just signed the petition (as has DH and the 2 kids, though 2 of the emails haven't come through ).

Thinking on nominating this thread for post of the month, more to raise awareness than anything else - anyone else???

Rabbit-in-headlights

pandapaws wrote: »

Thinking on nominating this thread for post of the month, more to raise awareness than anything else - anyone else???

I'll second that!:T :T :T :j :j