Wipe slate clean with debt amnesty

bendix

ninky wrote: »

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

Because, let's face it, those evil lenders used guns and torture to make us poor dupes borrow money. Evil evil evil.

Let me rephrase it your proposition.

Borrowing as we know it has to stop. Moral and financial responsibility for our own destinies has to begin.

ILW

Dan: wrote: »

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




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

Because it is a stunning example of a product that has no real merit beyond showing off to the neighbours and rotting your brain with Sky, Big Brother and Eastenders.

ninky_2

bendix wrote: »

Borrowing as we know it has to stop. Moral and financial responsibility for our own destinies has to begin.

well i for one am happy to boycott borrowing. apart from mortgage i've never borrowed and never will but i've been lucky enough not to get that desperate. it's not what the banks, hp sellers or other rich cats want though, is it?

ninky_2

ILW wrote: »

Because it is a stunning example of a product that has no real merit beyond showing off to the neighbours and rotting your brain with Sky, Big Brother and Eastenders.

shame the advertisers don't sell it like that though. or the fact it will be defunct and useless in a few years.

clobber_2

[very small voice] we've got a plasma telly[/very small voice]

Not bought on credit though.

I do however know people who have gotten into debt because they needed to pay for a roof over their heads and food. I also know people who have gotten into debt because the banks were not troubled by the fact that they were clearly manic or suffering form other acute severe mental illness and didn't really understand what they were doing.

Sometimes it really bugs me on this forum, the assumption that everyone who gets into debt is an irresponsible fool. It is no more true than it is true that I'm not because I paid cash for a ludicrously expensive handbag I don't need.

Darth_Marty

Righto so aside frrm the drippingly sarcastic and sometimes plain bitter posts on here has anyone discussed the possible merits/downfalls of this plan? I mean really thought about it, what, if any, benefits could this have? What, if any, downfalls could this have? Or is it just that those without debts, or plasma screens, simply cant bear to think that those with will benefit in ways they wont?

chopperharris

The reason why plasmas are used to define credit .... because they are never saved for....they are almost always bought on credit.

If a national database was made to monitor credit ratings it would still not have prevented the credit crunch.In fact just what are HMG wanting the banks to do to get us out of the hole , is it not spend more? Its let them eat cake straight from Gordon Browntoinette.

Banks etc sell credit , the end user has the option to choose not to take it.Whether they have a popup on their site offering credit its not the reason we are in problems today , its those that take it and cant repay it.Those that think that a national wiping of the slate are those same people looking for a get out of jail card.....and at everyone elses expense , which it will be.

WE have to live up to the responsibilities of our credit , its not our money to spend , just like a house bought on it it has to be repaid .... even if that will take a lifetime for them to pay.Until then all credit should be witheld from them for that period....not merely a bankruptcy term or IVA.

I was brought up that credit is for need , to replace things like cookers ,or luxuries like cars etc.The life of two cars , multiple mortgages and replacing anything for something that "looks better" has now gone.

We have to accept that now we pay our dues and live like paupers until its paid , that includes assets even if it is a home.Sorry , its tough being turfed out of what is essentially someone elses property , even if theres kids with you but thems the brakes.You put those kids on the steet , or even worse in council or rented property , not the creditor.You will hopefully prevent it from happening again and also teach the next generation "the value of credit" for needs ...... not wants for luxury.

I am not a doom sayer , or a bubble bust poster eejit.I am a realist that has been woken up , not by the media hoors , but by the fact that my life of "save to buy actually costs less" lifestyle has been trashed by the credit cruncher.

Their past spending now costs me money in that saving rates are gone , so of course I am peeved ...... very fking peeved.Effectively I am paying their debt yet having known the difference between a luxury and need , and for the length of time it will take....and now theres cheek of wiping it being talked about , I will still be fking paying for it in decreased interest on my savings though.

So NO they shouldnt have a slate wiped clean. They should be working the debt off quarrying the bloody slates until its paid off in their spare time , scrimping and saving every penny for the duration.Making sacrifices in possesions , luxuries , and holidays will speed it up all that quicker.



Yes I do call this a spade.

"After extensive research the government findings though are inconclusive and are considering taxing it higher if it is a spade , and reducing tax if it is a shovel to stimulate demand for new shovels.Unfortunately with the lack of free flowing credit to purchase resale spades their worth has decreased some 22 percent since october leading to negative equity for them.....and some experts are predicting it reaching over 50 percent in the near future."

taken from itsabloodyshovelpricecrash.com

uzubairu

chopperharris wrote: »

The reason why plasmas are used to define credit .... because they are never saved for....they are almost always bought on credit.

If a national database was made to monitor credit ratings it would still not have prevented the credit crunch.In fact just what are HMG wanting the banks to do to get us out of the hole , is it not spend more? Its let them eat cake straight from Gordon Browntoinette.

Banks etc sell credit , the end user has the option to choose not to take it.Whether they have a popup on their site offering credit its not the reason we are in problems today , its those that take it and cant repay it.Those that think that a national wiping of the slate are those same people looking for a get out of jail card.....and at everyone elses expense , which it will be.

WE have to live up to the responsibilities of our credit , its not our money to spend , just like a house bought on it it has to be repaid .... even if that will take a lifetime for them to pay.Until then all credit should be witheld from them for that period....not merely a bankruptcy term or IVA.

I was brought up that credit is for need , to replace things like cookers ,or luxuries like cars etc.The life of two cars , multiple mortgages and replacing anything for something that "looks better" has now gone.

We have to accept that now we pay our dues and live like paupers until its paid , that includes assets even if it is a home.Sorry , its tough being turfed out of what is essentially someone elses property , even if theres kids with you but thems the brakes.You put those kids on the steet , or even worse in council or rented property , not the creditor.You will hopefully prevent it from happening again and also teach the next generation "the value of credit" for needs ...... not wants for luxury.

I am not a doom sayer , or a bubble bust poster eejit.I am a realist that has been woken up , not by the media hoors , but by the fact that my life of "save to buy actually costs less" lifestyle has been trashed by the credit cruncher.

Their past spending now costs me money in that saving rates are gone , so of course I am peeved ...... very fking peeved.Effectively I am paying their debt yet having known the difference between a luxury and need , and for the length of time it will take....and now theres cheek of wiping it being talked about , I will still be fking paying for it in decreased interest on my savings though.

So NO they shouldnt have a slate wiped clean. They should be working the debt off quarrying the bloody slates until its paid off in their spare time , scrimping and saving every penny for the duration.Making sacrifices in possesions , luxuries , and holidays will speed it up all that quicker.

I agree with the points you've made, but I must add that I have always saved up for luxury items like plasmas.

ninky_2

bendix wrote: »

How is offering someone credit 'taking advantage of the poor'.

Usury.

http://en.wikipedia.org/wiki/Usury

obviously we can't just wipe out debts and leave the current economic system in place as it relies on debt to function (fractional reserve system). haven't got time to describe alternative now. later.

Dan:_4

ILW wrote: »

Because it is a stunning example of a product that has no real merit beyond showing off to the neighbours and rotting your brain with Sky, Big Brother and Eastenders.

This is simply not true and a complete stereotype of someone with debt problems.

I have a plasma, which is all payed for, and I did not buy it to show of to neighbours, nor to watch the television programs you suggest. I'm sure many, many others are in the same position.

LCD/Plasma is all pretty much you can buy these days anyway, and are now quite reasonable in price.

You sound very bitter and jealous to me.