Whose fault?

dabbit

With credit card companies only to willing to give credit (to even me who is ill health retired) to anyone passing by, can all the blame really be put on the people who use that credit source. The credit cards companies must hold some responsiblity for giving the cards to anyone in order to make money.

When I think of recent cases in the press of people (men in particular) who have committed suicide because of escalating debt, it angers me. Personally I know that I have be given credit cards and encouraged to spend on them regardless of my lack of working income...and reliant on benefits.

However, i do appreciate that it is also my fault that i am in the state I am in, no one forced me by gun point to spend on the cards. However, as I am disabled and was in need of an electric wheelchair (The NHS refused because I could take more than one step) I had little choice - other than to become a total recluse. When that chair broke down (and I was still paying for it) I needed another which again went on the cards.

So come on credit card companies take some responsiblities! And why keep upping my credit limit, knowing I am not working?

:xmassign:

Moglex

The blame must be shared.

Although, ideally, people would not borrow irresponsibly, the plain fact is that they do.

Given this fact, CC companies should behave in a more responsible manner.

It's particularly gauling when you read of people who, through no fault of their own, can't get credit, even when they would make (or have made in the past), perfect customers.

Debras_Angel

Yep,

I'm with Moglex we must share the blame as we are all adults at the end of the day and know the consequences (especially now a days) if we don't pay.

Dabbit I totally sympathise with your predicament but not everyone who would be in your situation would resort to a credit card to resolve.


In life just because it's easily available doesn't mean it's there for the taking.


:xmassign: Debs

angelica

dabbit,

It is very sad to hear about your situation, life can be extremely tough sometimes, :grouphug:and I agree with you that debt is very serious issue and many people cannot cope with it.

I also agree with Moglex and Debras Angel that both parts (lenders and borrowers) should be responsible for the debt and be aware of the consequences. Saying that I think lenders should educate people better and explain the danger of getting credit before a person signs on dotted line.

What would YOU like the credit companies to do to be more responsible?

[Deleted User]

Dabbit - although I whole heartedly sympathise with your ill health, I do not agree with your attitude that CC companies should be responsible, or even partly, for people getting into debt. If you spend beyond your means, I'm afraid it becomes your problem to resolve and settle the debt. It doesn't take a lot of reasoning or complicated calculations for someone to realise that they are over-spending. And I think that for anyone to expect CC companies to look after someone's welfare is quite frankly pathetic - CC companies are there to make money not to act as a charity.

Clariman

dabbit wrote:

However, i do appreciate that it is also my fault that i am in the state I am in, no one forced me by gun point to spend on the cards. However, as I am disabled and was in need of an electric wheelchair (The NHS refused because I could take more than one step) I had little choice - other than to become a total recluse. When that chair broke down (and I was still paying for it) I needed another which again went on the cards.

So come on credit card companies take some responsiblities! And why keep upping my credit limit, knowing I am not working?

Hi dabbit. Let me ask you a simple question. Would you have preferred that the credit card company declined you when you were "in need of an electric wheelchair" ?

The way you have expressed it is that you had a "need" which the credit card company enabled you to satisfy, so I presume that you were happy with their decision ?

I am not trying to be unsympathetic - far from it - you do have my sympathy, but I don't think that borrowers can have it both ways. That is not to say that there is not irresponsible lending out there, but we need to make better financial decisions for ourselves.

Clariman

Galstonian

While I can understand your concerns and appreciate that it is credit card related can we take discussions about the morality of lending to some of the other boards designed for this type of post (like Discussion Time in The Money Savers Arms, for example)?

Thank you

(posted in my role as Board Guide)

creditcardking_2

When the bank gives you a credit card they are taking a gamble just like you are when you buy a lottery ticket, sometimes you win and sometimes you lose, if they are willing to give you a credit card and you are on a low income then its tough luck for the bank if you decide not to pay it back, maybe they will win with the next customer. So long as both parties obey the law then there is no reason why you should pay the money back if you are not able to afford the payments. As for people killing themselves over debt - pathetic, there are much worse things to worry about than debt, its such a waste of a life.

dabbit

lindabea wrote:

Dabbit - although I whole heartedly sympathise with your ill health, I do not agree with your attitude that CC companies should be responsible, or even partly, for people getting into debt. If you spend beyond your means, I'm afraid it becomes your problem to resolve and settle the debt. It doesn't take a lot of reasoning or complicated calculations for someone to realise that they are over-spending. And I think that for anyone to expect CC companies to look after someone's welfare is quite frankly pathetic - CC companies are there to make money not to act as a charity.

I agree that it is mainly the reponsibility of the person who is issued with the card, BUT when credit card companies have been known to issue cards to bad debtors (as seen on TV recently) and even to the deceased, whose fault is that?

[Deleted User]

dabbit wrote:

I agree that it is mainly the reponsibility of the person who is issued with the card, BUT when credit card companies have been known to issue cards to bad debtors (as seen on TV recently) and even to the deceased, whose fault is that?

Hello Again Dabbit - I am sure that CC companies do their best to thoroughly investigate all applicants. Afterall, it is in their interest (not the applicants') to ensure that they are not exposing themselves to any potentally unrecoverable debts. But unfortunately, no system is all secure, and things invariably go wrong - just like people giving wrong or misleading information about their income etc. I'm afraid Dabbit, you are only listening to 1 side of a very complicated issue. Please remember, there are always 2 sides to any situation. But I do believe that when individuals get themselves into debt, there is only 1 person to blame - and it not the CC company. That is like playing with fire and then blaming the match when you burn yourself.

dabbit

I'll agree to disagree then, as I also think the CC's have some responsibility