The Sub Prime Credit Thread - Part IV

Innocent_Guy

Might be of interest to someone:

Top 10 Striking Numbers
9,500 - Number of new debt problems dealt with by CAB each day (up 200 per day on February 2010)
£58,040 - average household debt (up £103 on February 2010)
£187m - personal interest paid in UK daily (up 6m on February 2010)
every 11.2 - minutes a property is repossessed (down .2 on February 2010)
1,995 - people made redundant every day (down 154 on February 29010)
1000 - people seek some form of formal debt rescheduling plan every day
£4,316 - a second increase in Government national debt
£54.5 bn - total credit card debt in December 2009
17.79 % - the average interest rate on credit card lending which is 17.29% above base rate (0.5%)
71.3m - credit and charge cards in the UK compared with around 60 million people in the country
Today in the UK
The average household debt will increase by £0.43 today (it grew by £11.11 a day in January 2008)
390 people today will be declared insolvent or bankrupt. This is equivalent to 1 person every 3.69 minutes
1,000 people are seeking some form of formal debt rescheduling every working day.
230,137 unsolicited telephone calls made to UK consumers daily by debt management and personal loan companies
In the last 12 months consumers saved an average of £2.76 every day
2,000 Consumer County Court Judgements (CCJs) were issued every day in the first 3 months of 2009
126 properties were repossessed every day during 2009.
Unemployment increased by 1,227 people every day during 12 months to end December 2009.
1,841 people reported they had become redundant every day during 3 months to end December 2009.
167 young people (18 – 24s) have become a NEET (not in education, employment or training) every day during the past 12 months.
£385m is the amount that the Government Public Sector net debt (PSDN) will grow today (equivalent to £4,455 per second).
£81,530,000 is the interest the Government has to pay each day on the UKs net debt of £848.5.0bn. This is projected to rise to £121.6m a day (£44.4bn) in 2010 – 2011 financial year.
219 mortgage possession claims will be issued and 185 mortgage possession orders will be made today
363 landlord possession claims will be issued and 244 landlord possession orders will be made today.
The UK population is projected to grow by 1,100 people a day over the next decade
8.1m cash withdrawals will be made today with a total value of £530m
The average car will cost £15.13 to run today
Savings
Research from Abbey Savings reveal that over one in four (28%) British parents with young children have no savings or investments to use in times of difficulty
Abbey Savings also reveal that four out of 10 Britons still save nothing at all
31% of savers don’t think they have enough money to cope in an emergency. In real figures, this equates to over 15 million people
Plastic card & Personal Loans
21.9m plastic card purchase transactions will be made today with a total value of £1.05bn.
8.1m cash withdrawals will be made today with a total value of £530m.
Shelter estimate that more than one million householders have used credit cards to pay their mortgage or rent in the last 12 months.
768,000 (47.5%) applications for consumer credit were rejected by the major UK lenders in July.
According to the BBA the proportion of credit card balances bearing interest was 73.6% in July 2009.
Total credit card debt in January 2010 was £61.4bn. The UK collective credit limit on credit cards is £158bn, which is an average credit card limit of £5,129 per person.
The average interest rate on credit card lending is currently 18.38%, which is 17.88% above base rate (0.5%).
There are more credit cards in the UK than people according to APACS. At the end of 2008 there were 71.3m credit and charge cards in the UK compared with around 60 million people in the country.
Young people - the IPOD generation (under 30)
The proportion of 18-24 year olds not in education, employment or training (NEET) increased by 113,000 in the last 12 months to end Q3 2009 and now stands at 933,000 (19.7%). The proportion of 16-18 year olds not in education, employment or training (NEET) stood at 261,000 (13.4%) at the end of Q3 2009. The total of 16 – 24 classed as NEETS now stands at 1.082m which is the highest on record.
AXA estimate that a fifth of 18-24 year-olds drink alcohol to take their mind off their financial concerns.
The unemployment rate for 18 to 24 year olds increased by 24,000 (3.3%) on the quarter and 165,000 (28.5%) in the last 12 months to reach 746,000. This means that 18.0% of all 18 to 24 year olds are unemployed which is the highest figure since records for this series began in 1992. 325,000 (43.6%) have been unemployed for longer than 6 months.
Research from Sainsbury’s Finance highlights that over half of undergraduate students (53%) in the UK are to be given financial assistance by their parents to see them through the financial burden of university. The average amount of parental financial support given to undergraduates is £8,070 per student during their university life.
The UK's largest survey of student finance, published by Push.co.uk, reveals that students who started at university last year can expect to owe nearly £21,200 by the time they leave and new students should reckon on at least £2,000 more than that.

Innocent_Guy

I did see some facts about the number of credit accounts however I cant seem to find them at present. I will keep looking.

Its-A-New-Age-Thing

i mean ive 16 accounts not including my aqua or my cap 1 or my 02 which are yet to show sygma popped on today couldnt believe it wish id applied today instead of yesterday....

Innocent_Guy

Its-A-New-Age-Thing wrote: »

i mean ive 16 accounts not including my aqua or my cap 1 or my 02 which are yet to show sygma popped on today couldnt believe it wish id applied today instead of yesterday....

Why today?

jo-bo

spiritual1 wrote: »

thats great jo-bo thing about this thread is were all kinda sub prime, the odd default an all that jazz..........

looking at ure credit cards i mean ure in a TOTALLY different credit league than the majority of us ure kinda A1 MAINSTREAM so ure advice whilst appreciated none of us would probably follow...........

i mean lets look at the halifax limit for example emmmmmmmm a £17,000, i wonder if ill get that in this lifetime or the next........... lol

:A

fair point, i can see where you are coming from, been scrolling these threads for months now( only registered a few months ago mind!) as i thought there might be occasions were i could help, you see i used to be a customer adviser at rbs- hated it, it was just sell, sell, sell regardless of human cost- however i do know a bit about the ins and outs of credit scoring, thats it best to apply at your bank etc, so i thought that i might join in and help:j

Its-A-New-Age-Thing

Innocent_Guy wrote: »

Why today?

a theory coz my equifax is showing me as an SYGMA customer today yesterday it wasnt..........

jo-bo

the previous posts are kinda right with regards to overcommitall(?) but i got my santander and debenhams when i had 14 credit cards active,( i closed 2x sgyma a/cs and 1x mbna just after!) not to mention my bank account o/d as well, sometimes it just doesnt add up!!

Innocent_Guy

Its-A-New-Age-Thing wrote: »

a theory coz my equifax is showing me as an SYGMA customer today yesterday it wasnt..........

They cant see the lenders name though mate.

When you apply they will also do an internal customer search and find your 'Customer identification number (CIN) they already would have known you were a customer.

Its-A-New-Age-Thing

Innocent_Guy wrote: »

They cant see the lenders name though mate.

When you apply they will also do an internal customer search and find your 'Customer identification number (CIN) they already would have known you were a customer.

i wasnt sure REMEMBER my first statement hadnt even been generated (musta been overnight last night) as i checked my equifax yesterday and my sygma yesterday and today sygma statement 1 available and now showing on equifax, also there seems to be a trend with people whove waited a month till there account was showin on equifax and people whod applied before it was gettin accepted and rejected

i was also hypothesisin it could be sygmas system automatically picked u up as a reject via equifax due to discovering previous SYGMA searches on ure file yet no account etc

:beer:

BugsyBrowne

Its-A-New-Age-Thing wrote: »

i mean ive 16 accounts not including my aqua or my cap 1 or my 02 which are yet to show sygma popped on today couldnt believe it wish id applied today instead of yesterday....

surely people who have over 10 credit cards must have a credit card fetish.
i mean they must be mental to be honest with you,someone back me up that just aint right!!!