WHAT CREDIT CRUNCH?dont shoot me down pls!

POSSETTE

ok..ill admit i have seen house prices drop and petrol go up..but am i just very lucky for it not to have hit me at all??

my gas DD has been reduced to £13 a month in last year and my water meter payment reduced last month to £22 my elec bill hasnt changed at all,and im not capped,mortgage doesnt alter coz fixed, and i work in a restaurant/pub at weekends where there is def no sign of money shortage,coz its booked up every weekend we turn people away,Bonfire night was just madness,people were paying all night with £20 notes we took £000s, land lord said he hasnt seen any change in peoples spending..i just applied for a loan for a new car last month and got it straight away, and then to day Virgin confirmed my 0% CC was on its way with an extra £700 on it..

.is there anyone else out there who thinks most of this credit crunch is a load of media bo77ocks??

if people are struggling i apologize now..im just curious..

debtman2007

to be honest i have been struggling for years hence why i was living on credit. so no hasn't really made a difference. I have been skint for a long time and will continue to be. HA

vikki400

While I am in a lucky position not to be feeling the rising cost in household bills as I am renting a room from a friend, I have certainly noticed the extra fuel cost over recent months. I have also noticed that food prices have risen; this doesn't touch me too much as I am only cooking for one, but I can see how it would really impact a family of four.

Having said that I think the worry over the credit crunch is more around dropping house prices and the hugh interest rates people are having to pay when they come out of their fixed rate. For instance, how would you feel if your rate was due to be up in the next couple of weeks. Remortgaging rates are still very high despite the drop in interest rates and the increase in negative equity has left a lot of people with no option but to move onto the bank variable rate. This can be more than 7% and I imagine that is a massive increase for most people.

I think we are just lucky not to be feeling the pinch that other are.

Paulgonnabedebtfree

debtman2007 wrote: »

to be honest i have been struggling for years hence why i was living on credit. so no hasn't really made a difference. I have been skint for a long time and will continue to be. HA

Looks like you wrote my post for me LOL.
The credit crunch has only made a small difference to me. I'm self employed. The only customers who got a price increase from me this year were the ones who had my services far too cheaply and wouldn't have been missed had they cancelled. A few credit card limits have been slashed but I'm not using them now anyway. I keep some spare credit around in case I get a big repair bill for my work van. If everyone withdrew credit facilities from me, it could cause a problem but only if an emergency arose. A very few customers have cancelled and a few more have a less frequent service but this has been balanced by new work coming in. New enquiries for work have slowed right down but there is still a trickle coming in. I know I could boost this by some doorstep canvassing. Anyway, the only reason I have a few gaps in my work is because I invested in equipment that helps me work a lot more quickly.
So yes, I have noticed Le Crunch but it's only had a tiny nibble at me (so far).

epsilondraconis

Apart from the price of fuel, I haven't really noticed any difference. I guess its important to be concious that our own individual circumstances can change very quickly and thus leave us in a tricky financial situation. Assuming the good times will never end appears to be one of the reasons people have money worries.

Cerisa

not sure.... I have gone from a very good job to working in a shop lol, but...me and my friends were discussing this the other day. we can afford alcohol, chocolate, nights out occasioanlly....I suppose it depends on your definition of poverty. I can eat and pay my rent, and thats what's important

POSSETTE

interesting comments..i can see how food prices would affect families..as we are just a couple it hasnt really hit us..suppose im lucky..when i do read of people on here tho it does make me think ..if i won lots of money i would pick someone on here and help them..when i hear that single mums have not been able to take thier kids to beach it makes me want to take them!!

mbaz

No it's not affected me at all - I couldn't get anymore credit anyway and money have always been v tight!!

Effy

Im the same as mbaz the only thing I would say is the hike in gas and electric bills has been a shocker and I begrudge paying that money to british gas when really i want to clear my debt quicker with it. I don't go out as much etc but these are measures I chose to take 5 months ago to tackle my debt once and for all. I'm fortunate though my job is pretty much recession proof (I work in a crematorium) so at least I have the benefit of job security which is more then most and if rental prices go down like they say they will ill probably be better off in the long run.

Toffee_Penny

POSSETTE wrote: »

interesting comments..i can see how food prices would affect families..as we are just a couple it hasnt really hit us..suppose im lucky..when i do read of people on here tho it does make me think ..if i won lots of money i would pick someone on here and help them..when i hear that single mums have not been able to take thier kids to beach it makes me want to take them!!

Pick me, pick me! :rotfl:


We have been affected but that's due to getting in a mess with credit. We don't own the house so know we don't have to worry about negative equity or secured debt.

OH has been affected in his job, he's self employed builder for one of the big firms. He is still in work and feels lucky compared to the 1000's you hear about losing their job everyday on the news. His income has been affected though, new houses not selling has meant a reduction in price to the gangs who build them.

It's good to see food prices coming down at last and battles between the likes of Tesco, Asda versus Lidl and Netto means better prices for the customer.

115K

I noticed food prices going up but I have just swapped supermarkets instead. Our electric bill went up a bit but other than that I haven't noticed much difference.