Don't Pay Big Payments on Your Credit Cards unless you can really afford it!!!!

PROLIANT

Anyway, good night to you all and happy debating, I am off to do some ironing and make my bait for work tomorrow, so no doubt I will catch you all tomorrow sometime.
Have fun.

Regards

Mr P

never-in-doubt

PROLIANT wrote: »

Anyway, good night to you all and happy debating, I am off to do some ironing and make my bait for work tomorrow, so no doubt I will catch you all tomorrow sometime.
Have fun.

Regards

Mr P

Bait? Thats a Yorkshire expression for pack lunch isn't it?

Night mate, enjoy work tomorrow :T

noah271007

Hackneygirl wrote: »

they used us!!!

we the "little people" busy working, bringing up our kids, paying for this and that - of course our banks offer us loans and credit cards in the blink of an eye - we pay them the interest - the interest payments should have been reinvested into the banks but no - they went to the "fat cats" so they could get some p u s s y and fatten up their wives with treats - they were riding high and still are - it is their evil crime not ours

if we did not take out loans, credit cards and mortgages, would the fat cats have still got rich?

It is very easy to jump on the bandwagon and criticise to those pigs! However, as a reference to what happened to RBS and HBOS in particular there is a fine line what is acceptable and what is UNacceptable. In this case, it is without any shadow of doubt VERY wrong for them to think its okay to take the british taxpayer money to use for their luxury retirement when they have caused so much misery and damage to UK's economy. I have said what i need to say. The cartoon i posted from the guardian sums up what i think of the UK PLC!

Hackneygirl

PROLIANT wrote: »

...No, you used the Bank.


The bank did not put a gun to your head and force you to borrow, tell me have you ever applied for or been offered a credit product?
Or are you accusing a financial institution of forcing you to sign a CCA and spend their money?
Come on, time for some honesty here!

honesty LOL

OK PRO baby, check this out, little people run this country, we pay huge amounts of tax, we pay interest on loans, we run cars and pay all the crap that goes with running them, parking fees, insurance, loans, fines - furthermore how the hell are we supposed to buy a property - we have to take out a mortgage with your friends, THE BANKS, and boy do they squeeze us dry

whats the alternative - live on the street, eat from the supermarket bins but thats cool - because you will be loan free!!!

epsilondraconis

Hackneygirl wrote: »

honesty LOL

OK PRO baby, check this out, little people run this country, we pay huge amounts of tax, we pay interest on loans, we run cars and pay all the crap that goes with running them, parking fees, insurance, loans, fines - furthermore how the hell are we supposed to buy a property - we have to take out a mortgage with your friends, THE BANKS, and boy do they squeeze us dry

whats the alternative - live on the street, eat from the supermarket bins but thats cool - because you will be loan free!!!

No one is saying that we shouldn't take out credit products and live on the streets. I think the honesty comes in each of us ensuring that we haven't over-burdened ourselves with too much debt that could be unmanageable.

What would happen if we each lost our jobs, didn't have a nice redundancy payout and couldn't find another job. Many would struggle after 2 months without work.

I'm a natural worrier when it comes to money and so over my 15 years of working life I've ensured we've saved enough money so that we can pay the mortgage and other bills for a fair while before we have problems. I'm not on a huge wage either, plus my wife earns only £15k per year. I'm not trying to blow my own trumpet, I saying that we've all made decisions in life about how much credit we have and the type of lifestyle we lead. We all have a responsibility.

epsilondraconis

Anyway, I think I preferred the thread when we were heading down the innuendo avenue - that was a lot more exciting that talking about debt.

Nighty night all.

noah271007

Night guys, esp to never-in doubt/hackeygirl, i enjoyed the thread debate here. Thanks for sharing, hope to see you around tomorrow night. Cheerio.

I can sense there will be more scandals coming out in tmw news LOL

Paulgonnabedebtfree

Hackneygirl wrote: »

Hi there, I was made redundant in January 2009 - l was devastated but managed to secure another job - however nothing is really reliable so I decided to use redundancy money to make payments on my credit cards - I paid off my Capital One cards and they are in my draw - Capital One wrote to me thanking me etc etc

I bank with The Co-Operative and thought I trusted my bank, they know I have a salary coming in each month and I had a good relationship with them. I have a Visa card with them as well and thought it a good idea to transfer some of my redundancy money to the credit card so reducing my interest payments but hoping to keep it just in case my financial situation changes in the future - seems like a good idea

well don't do it unless you are happy to pay that money to the Bank because I received my monthly statement this morning and they had reduced the credit limit using my £3,000 payment as the amount to reduce the limit by - in other words they have clawed back my payment without warning me or sending a letter - I telephoned the number on the back of the statement where it states "Phone us: to increase your credit limit..." but the customer service department can't help but just kept repeating it wasn't their decision, they agreed that the account was a good account and they had not had any problems but it was decided by another department who are only available to speak to during the week from 8am to 4pm!!!

So I repeat - don't pay off your credit card balance unless you are prepared to write that money off and not use the card again - the Co-operative Bank have done this to me without any warning or letter to explain - where is the trust or customer care??

Capital One are the nice people here, at least they had the decency to write to me and thank me for paying off their cards and they are not reducing my credit limit behind my back in such a sneaky way

I am disgusted with The Co-operative Bank who I have been with for 20 years!!!!

I've had several card companies do this to me as well in recent months. The conduct of my accounts has been fine - in spite of my large debts. It's just the lenders reducing their exposure.
You will probably find that you will get a letter informing you of the reduction in the next few days. They always seem to do the reducing a few days before the informing. They do this because they fear someone will go on a spree if they give notice of the reduction. On the first occasion this happened to me, it was only by luck that I didn't get stranded in Spain.

not_loaded

Phew! Thanks Paul for getting this back on thread.

Hackneygirl initially put a useful piece of information on MSE and for some reason (probably the weekend and a few tinnies) it brought all the ‘holier than thou’ saints out on parade.

Well saints, if you are so wonderful at handling money and debt-free, and know everything about finance, exactly what are you doing looking at MSE?

PROLIANT

not_loaded wrote: »

Phew! Thanks Paul for getting this back on thread.

Hackneygirl initially put a useful piece of information on MSE and for some reason (probably the weekend and a few tinnies) it brought all the ‘holier than thou’ saints out on parade.

Well saints, if you are so wonderful at handling money and debt-free, and know everything about finance, exactly what are you doing looking at MSE?

MSE = Money Savings Expert
This is not Consumer Action Group.
If you want to join the rest of the angry villagers and start a cou against the banks then this is not the site to do it on.