Should banks do More to stop you getting into Debt?

musclesza

So the current strategy taken by the banks you reckon is the most effective? Obviously if you fall into insolvency the bank loses out as it doesnt get its money back

Ames

In some ways yes, in some ways no. There are people on the gamblers thread who keep getting their limits increased, even though the statements must show where it's going. That to me is irresponsible of the banks. I also think there should be more stringent rules in place to stop people being given credit they just can't afford - I got a £7k loan when I was on benefits. On the other hand, no one forced me to sign the agreement or or spend the money.

Once in debt, they should do a lot more. I'm horrified when I read on here about managed loans where people pay £63 and £62 is interest. How is that right? The banking code says that banks should be sympathetic and helpful when people hit trouble, but very few banks are.