The bail out, Im annoyed

mikedo1

_Andy_ wrote: »

This just about sums you up - offensive, small-minded, rude and pretty much illiterate. I imagine your parents are very proud of you.

well lets not go there hey, didnt ask for people to get personal, just asked a simple question.

smk77

mikedo1 wrote: »

well lets not go there hey, didnt ask for people to get personal, just asked a simple question.

Ok, so the majority of "home owners" borrowed from a mortgage lender to allow them to buy their house. So what? You have to live somewhere. Not many people are in a position where they don't need to pay for a roof over their house. If you are one of these people who own their property outright then you are lucky.

My "debts" provide me with a nice house for my family. I can afford the repayments even if interest rates shot up. I don't have debt from cars and holidays I can't afford. I haven't had to learn any lessons about debt the hard way because I've not put myself in such a situation. So, don't start lecturing me and others on this forum about our financial circumstances that you have no knowledge of.

carolineb23

mikedo1 wrote: »

YOU DONT OWN your homes until that last penny has been paid, the mortgage company does, so your no different to me borrowing wise, apart from I will have paid my debt long before any of you have!

Yes and we will own a property at the end of it, not so mention somewhere to live while we are paying off the mortgages which is the whole point of it in the first place.

sdooley

never fails to amaze me how posters with the same circumstances can get totally different treatment on the different sub-boards of this forum, viz:

housebuyers on the main housing board - generally ok, some warnings about the market falling

housebuyers on the prices sub-board - you are crazy, possible insults/slanging match, almost certain if the person is buying to let

debtors on the credit cards board - posters comments all about how to get back on the debt gravy train after a default

debtors on the loans board - 'morality play' where people who set out all their circumstances and are 'deserving poor' may get some sympathy those who are trying to fight the system which traps them in debt are slagged off

debtors on the debt-free-wannabe board - everyone very supportive, mix between those (big majority) who recommend legit debt escape moves (e.g. settlement offers, payment plans, etc) and a few who egg people on into outright dodging creditors.

Generally, I just wish everyone would chill out - but have been guilty myself of getting het up about things which are after all just words on a screen.

snake16

sdooley wrote: »

Maybe a relative has agreed to step in and clear the debt.

I lent to a relative once. NEVER again:mad:

mikedo1 wrote: »

Oh and by the way, just to all the ''home owners'', how many of you have ''actually'' paid your mortgages off??? Might seem nice thinking your s##t dosent stink in all this bank crisis etc, ripping me for taking debt out, but heres a wake up call....YOU DONT OWN your homes until that last penny has been paid, the mortgage company does, so your no different to me borrowing wise, apart from I will have paid my debt long before any of you have!

So eloquently put:T Actually, I have paid my mortgage off thanks:beer:

And where do you live? I assume you pay rent (a regular debt?) or does the relative that settled your debt supply free housing to you? Unfortunately life is full of debt for the vast majority of us.

CHR15

Stop feeding the Troll (well just a little bit then.... I'm impressed someone who spends a day counting McNuggets can afford to pay back £6,400, well done, Chavtastic!!)

KEVSART4FUN

mikedo1 wrote: »

Hi, I would like to ask people what there thoughts on my view here on banks being bailed out. I have watched in amazement the last week on the £37 billion pounds of OUR money the govermant are helping lloyds tsb, hbos and RBS, and probably many others. My point is, during that week, I have not heard one person ask this question....Were is our help, after all it is our money?? I currently owe Lloyds tsb 2 loans, totalling £14,000 and am in arrears, defaulted and am looking to get a settlement. I ask, why should the banks get a bail out, and technically be paid back twice?? I also would like to know how people feel about having to really pay there debts twice over, as the banks will still demand intrest, late charges and default people, when we are bailing them out!! I would love to see a revault in this country, its about time the british public got up and stood together and said ''enough is enough'' bullying over. If people showed that we would all be better off!:mad:

I for one will NEVER borrow money again, mortgage, loans, credit, will also be drawing my cash out of the bank on payday, at least then I have no charges, and my money is safe! Banks will never make money out of me again, at least without my knowing!

I'm more than a little annoyed because these Gamblers have got away with our money and stuck it somewhere we hadn't approved of,then lost it,and now they want us tax-payers to bail them out,at the expense of funding the really important things like health,education and defence.
How dare they come cap-in-hand to every tax-payer (including companies and small businesses) to get them out of the fix they're already in,just so they can do the same thing again!
I'm glad there's going to be a new watchdog keeping an eye on the sums they'll be able to get in the near future,but I worry that it might become a toothless tiger if the players can persuade them to let them off yet another time in the distant future (ie when we really need money to be worth something for pensions and investment).

KEVSART4FUN

As a professional Credit Manager I know exactly what happens when a big buyer or borrower asks for a massive order/debt to be processed which they wouldn't be able to pay for.
Sales will always rule the roost if we get too hung-up on trading figures and profits (they are after all just notes on a piece of imaginary paper until they're actually paid).
As to whether the whole system would collapse if businesses (including banks) didn't take risks just ask yourself why they ever bother with Credit-Scoring , Credit Limits and Payment Terms.If they just gave money or goods away without checking credit status they would be justly given the heave-ho.But wait,isn't that what they've been doing all along?

jamespir

if we didnt bail out the banks we would all be in the poo as we rely on these banks to keep our money safe and our buisness(work shops) safe as well without greey banks wed have nothing

lesley1960

smk77 wrote: »

Maybe if the banks didn't lend silly amounts to people who couldn't afford to pay them back then the banks wouldn't need to be bailed out. People shouldn't be borrowing what they can't afford to repay and banks shouldn't have been lending so wrecklessly!

Yes maybe the banks have in some cases been reckless ,and there are genuine cases when through no fault of their own people have been unable to service their debts . But you have to admit there are far too many people who have borrowed without a thought of how to repay it .