Wipe slate clean with debt amnesty

Robert_Sterling_3

Stop all benefits and let ordinary people help less well off ordinary people.

Robert_Sterling_3

Close all educational establishments and let children learn in ths school of hard knocks and the university of experience.

Robert_Sterling_3

Help local hoteliers by banning all trips abroad.

Robert_Sterling_3

Turn the "Royal Family" into a franchise operation.

Dan:_4

drc wrote: »

Erm, you can just say "no" or click "no" to the internet message? Sorry but it's not really that difficult. It just takes a bit of willpower.

Erm, why bother displaying a pre-approved loan offer at all?

drc - let me ask you - would you lend someone money if they clearly do not have the ability to repay it? because the banks did just that. Poor credit rating, no problem Sir.

drc wrote: »

Maybe they should start printing a large message on the credit card application forms stating "you are borrowing money, it is not yours, you will have to pay it back at some point with interest which means you will have less money available to spend on a plasma tv" in the same way that the put "contains nuts" on the back of peanut packets just for those who do not understand what credit means :rotfl:.

WHY THE F*CK DOES EVERYONE ON THIS FORUM ALWAYS USE A PLASMA TV AS AN EXAMPLE USE OF CREDIT ??????:mad:

ninky_2

There are many who believe lending money in order to charge interest is morally corrupt. This is why it is considered sinful in many world religions (Christianity, Judaism, Islam). Basically the rich get richer because they are able to take advantage of the poor and it allows them to put up the prices for goods and services because people now have access to credit to pay for them.

What we are seeing now is the result of extreme greed. I would say it backfired because the banks went bust, but rather than choose to rescue the economy by writing down debt (and I include secured debt in the form of mortgages), our governments have chosen to bail out the creditors.

I don't want a plasma TV, fancy car or a fast lifestyle, I'd just like to live in a world where an average life hasn't been driven out of the affordability ranges of most by the offering of reckless credit.

lesley1960

Wipe the slate clean and i bet within a few years 80% if not more will be back where they started

ninky_2

There would be no point in wiping the slate clean and just starting off again. Lending as we know it has to stop.

lostinrates

Right now on house buying forum in the thread about saving for a deposit the wisdom of buying IO instead of rent is being discussed. I think the mindset has to change and that wiping off debts is not the way to do that.

bendix

ninky wrote: »

There are many who believe lending money in order to charge interest is morally corrupt. This is why it is considered sinful in many world religions (Christianity, Judaism, Islam). Basically the rich get richer because they are able to take advantage of the poor and it allows them to put up the prices for goods and services because people now have access to credit to pay for them.

quote]


Equally, there are many of us who believe borrowing money in order to give the impression of being rich is morally corrupt, and intellectually bankrupt.

How is offering someone credit 'taking advantage of the poor'. You really seem to have a poor perception of human beings. You attack the rich for taking advantage of the poor, and you implicitly believe the poor are poor dupes with no self-will or willpower, mere sheep with no intelligence or freewill to act in our own best interests.

That's a very jaded world view.

Me? I think people know what is best for them. Sadly, not all of them care to exercise that will, preferring to kid themselves and others today, in return for pain further down the line.