Must watch!!! Panorama 10.15pm Sunday

YorkshireBoy

ManAtHome wrote:

Couldn't understand why it took the couples involved so long to realise they were living well above their means...

This was the thing that surprised me as well. The Caretaker said "I was horrified to find out I owed £29,000". He'd opened as many as 48 statements, in the preceding 2 years, before he realised this. What was he before...worried?...concerned perhaps? Either way he was a long time realising the severity of his problem.

The phrase "irresponsible lending" was used several times by the presenter and the whistleblower. Shame the programme couldn't also have said 'it takes two to tango'. To give the Caretaker his due though, he actually admitted it was his fault - something the programme couldn't bring itself to say.

Mark7799

Interesting how the two threads (I've found so far) on this topic have such different responses - the other is on the DFW board. For my own take, I wondered what 'the caretaker' and the first gentleman featured had actually spent their money on.

YorkshireBoy

alexjohnson wrote:

I'll bet YB was off like a shot to stir up trouble :-) !

Saucepot

Whilst having sympathy for those drowning in debt, taking the view that it is all the banks fault is a tad unfair. Personal responsibilty has to come in somewhere.

Backbiter

James wrote:

Martin warning:

Due to chip’n’pin, you’ll now know your credit card pin number – something unlikely in the past. This increases the temptation to withdraw cash from holes in the wall on credit cards, yet do this and there are massive hidden costs.


Plus even if you pay the card off in full at the end of the month, many still charge you interest on cash withdrawals. All this leads to a very simple rule - never, ever, ever take cash out on a credit card.

http://www.moneysavingexpert.com/cgi-bin/viewnews.cgi?newsid1082327662,44861,

Note: You can resist temptation and opt out of the PIN part of Chip & PIN. Keep signing - Get yourself Chip & Signture cards.

Agree totally with the above warning, but this happened to me last weekend:

I was at a function in Oxford, and was staying in a B&B. I had to leave early on Sunday, and after spending more than planned during the evening, had to withdraw cash to pay the B&B bill. At 3am on Sunday morning I tried well over a dozen cashpoints but was repeatedly met with 'this service is not available' messages on the screen. I assumed all the machines were empty but finally saw someone withdraw some cash at a cashpoint, so entered my PIN etc, but was again refused.
In desperation, I finally tried my Barclaycard, having NEVER used it to withdraw cash in the past 26 years, because I didn't know the PIN until a few months ago. Surprise surprise, out came the £40 I needed. I thought it was weird at the time, even after 8 pints of Guinness, but it seems the banks will try anything to squeeze extra cash out of people!

I always clear the balance each month, and am anticipating being stung for extra charges this time

manicdays

I work for collections in RBS (waits rotten fruit to be thrown at her!)

I also watched it.

It was very sad about those people who killed themselves

But one thing really struck me though, the bank is not wholly to blame. I am currently paying off £7,500 of cc bills. I spent it. The money wasn't forced upon me. Never once did I think I was being given 'free' money. I was just silly & frittered all that money away.

There was nothing to show for all those people who spent that money. So they must have frittered as well.

Also RBS are being investigated cos one man had 4 cards from RBS group. They were 4 cards of a total 22 he held. Who are the other 18 cards from then???

Banks are not innocent, by any means but people do have to take some responsibility.

Lisa

KTF

James wrote:

Martin warning:
Note: You can resist temptation and opt out of the PIN part of Chip & PIN. Keep signing - Get yourself Chip & Signture cards.

Does this mean that you can get cards without the signature strip as all of my Chip & PIN cards have signature strips as well?

Martinslovechild

I don't blame the banks at all (I don't work for one, by the way). Individuals are personally responsible for their own actions. If a bank refuses someone a card, then that person will probably go elsewhere until they eventually run out of options, rather than being realistic in the first place about their finances.

The people featured in the programme seemed to simply spend whatever the banks threw at them (which is what they asked for in the main - you don't get 20 credit cards any other way!) - I don't believe that they didn't know what they were doing and quite frankly, if they genuinely didn't, then they need to go back to school to resit their maths exams!

Paul_Herring

KTF wrote:

Does this mean that you can get cards without the signature strip as all of my Chip & PIN cards have signature strips as well?

Doubtful, because the signature strip would be required if there wasn't a chip and pin reader present, for example, the petrol station chain you were using were targetted by criminals and they had to remove all their devices. (Story here if you missed this one.)

Debras_Angel

I watched this the other night and found myself getting angry and sad for a couple of reasons.

How did the wife of the first man not realise the amount of debt he had...they lived in the same house. Surely she must have known he was overspending!

why blame the banks? We are all responsible for our actions and we know we have to pay it back.

If someone loses their job and then the sh*t hits the fan fair enough you can't always plan for that, but to just keep taking the money knowing you can never pay it back!

Sorry if I sound unsympathetic...I'm not but just saddened that people take and take until they find the only way out is suicide and sadly it's the people left behind that I feel for.

Debs