Financial Plus

Anihilator

michael1983l wrote: »

Your a bit wide of the mark here, I have always paid my debts and if I don't make a payment its because I cannot make a payment. I have been stuck in a rut before where I thought the only option to get food on the table was to take out a further loan, I did this knowing in the back of my head that I couldn't really afford more outgoings but did it because I didn't seem to have any other way of getting food on the table at the time.

These leeches that I am talking about evaluate your outgoings and know full well at the start of the agreement that the customer is going to struggle to make the payments, either now or at some point in the future. They also know that desperate people will do desperate things, so off the back of that I can safely say that these leeches are exactly that.

You yourself have obviously never been in a position of hardship and lucky for you, but not every person in debt is trying to get out of their agreements.

A lot are.

Far too many people attach themselves to these companies with no intention of paying the money back and then have the cheek and hypocrosy to suggest its the companies who are dodgy when they resort to sneakiness to recover the cash.

michael1983l

Anihilator wrote: »

A lot are.

Far too many people attach themselves to these companies with no intention of paying the money back and then have the cheek and hypocrosy to suggest its the companies who are dodgy when they resort to sneakiness to recover the cash.

A minority are is more accurate. And these companies take the decision to accept them as customers knowing thir history so they have brought it on themselves. If lenders actually leant responsibly then this country wouldn't be in the mess it is now. It is human nature to take things that arn't necessarily theirs when in times of hardship and desperation. These companies have to accept their part in the responsibility of lending to such people, including myself at one stage. I have 32k outstanding debt and have 7 or 8 different credit agreement at the peak and I missed a grand total of 6 payments in 5 years. 4 of them being recently when all pots run dry and I thought I was going bankrupt.

Although I accept alot of responsibility for myself, it was payday loan companies and sub prime lenders that broke me financially and if they were responsible lenders should have never let me take out further debt in the first place because I could not afford it.

Anihilator

michael1983l wrote: »

A minority are is more accurate. And these companies take the decision to accept them as customers knowing thir history so they have brought it on themselves. If lenders actually leant responsibly then this country wouldn't be in the mess it is now. It is human nature to take things that arn't necessarily theirs when in times of hardship and desperation. These companies have to accept their part in the responsibility of lending to such people, including myself at one stage. I have 32k outstanding debt and have 7 or 8 different credit agreement at the peak and I missed a grand total of 6 payments in 5 years. 4 of them being recently when all pots run dry and I thought I was going bankrupt.

Although I accept alot of responsibility for myself, it was payday loan companies and sub prime lenders that broke me financially and if they were responsible lenders should have never let me take out further debt in the first place because I could not afford it.

Utter !!!!

I am sure everyone would love to spend five figures sums we dont have. The majority of us dont.

The minority do and the decide to defraud every one.

michael1983l

Thanks Anihalator you have just displayed your complete lack of understanding of the situation people tend to be in in sub prime lending markets. You clearly do not understand in the slightest what it is like to be in that position as you obviously have never been there. Not everybody is out to defraud you pal.

michael1983l

Anihilator wrote: »

Utter !!!!

I am sure everyone would love to spend five figures sums we dont have. The majority of us dont.

The minority do and the decide to defraud every one.

You do realise that the average personal debt stands at around 33k per person on last count don't you? That is a five figure sum isn't it?

http://www.telegraph.co.uk/news/uknews/1570523/Average-Briton-is-now-33000-in-debt.html

Anihilator

michael1983l wrote: »

You do realise that the average personal debt stands at around 33k per person on last count don't you? That is a five figure sum isn't it?

http://www.telegraph.co.uk/news/uknews/1570523/Average-Briton-is-now-33000-in-debt.html

Possibly including mortgages and cars yes

Not 33k wiith lots of unsecured prime style loans.

Idiot

michael1983l

Anihilator wrote: »

Possibly including mortgages and cars yes

Not 33k wiith lots of unsecured prime style loans.

Idiot

There is no need for personal insults.

The unsecured loan only figure is around 9k which isn't short of five figures. However debt is all relative to your resources and my salary is high enough to easily sustain 32k of personal debt provided it was structured in the correct way, which it wasn't but now it is. However you are digressing from the original point, Sub prime lenders bring it on themselves by lending to these people knowing that these people can't pay.

People who apply for sub prime credit 99% of the time do so because they have either run up to their borrowing limits in the prime market, or have a very poor credit history. Yes some of the responsibility lies with the borrower, however in my opinion the majority of the responsibility lies with the lender who enter these contracts knowing full well of the circumstances involved and due to the high interest and other charges will most likely get their money back even if the have to sell the debt on.

Like I say they are the scum of the earth, there is no other way round it and if you think otherwise then you are a little wet behind the ears imo.

CHR15

Scott, please make sure you get an email off to:
[EMAIL="abuse@moneysavingexpert.com"]abuse@moneysavingexpert.com[/EMAIL]

They have to give you permission to post about your company (which you will have to state in your signature)

Whether people like your business practice or not, you should be given the opportunity to defend your company on an open forum whilst posting within the rules.

I would like to see a more balanced argument with loan companies. Currently there are too many of the "refuse to repay" against those of us who think they "should repay" and not enough of those in your position.

ScottAnderson

Thanks CHR15, I sent an email off to them yesterday. They got back saying I needed to resend to [EMAIL="companypermission@moneysavingexpert.com"]companypermission@moneysavingexpert.com[/EMAIL]. I'm waiting on their response.

Anihilator

Send them an e-mail saying you want to sponsor the site or martin and wait for them to sort it.

Probably will even allow you to give out illegal advice then