Unhelpful bank

jonesMUFCforever

thebargee wrote: »

Thanks for the advice folks.

We have taken out a Credit Card 0% interest fixed for 16 months on balance transfers and money transfers. We've cleared his credit card, cleared his bank over draft and charges. My son will fully pay off the new card in the 16 month period.

My wife and I have paid off his loan and he will be paying us back plus the interest we would have had and we all know there is very little interest available for savers.

The bank is losing all my sons business and my wife and I are also moving our account.

Good luck to all of you.

I hope he is grateful to you seeing now his debt is your debt.

ViolaLass

thebargee wrote: »

Do you approve of encouraging negative equity? It is irresponsible lending by the banks that has helped this country get into such a disgraceful financial state and they are still perpetuating this situation

But surely he's in negative equity either way, as in his debts are greater than his assests? The mortgage rate is probably the lowest of the lot.

ILW

thebargee wrote: »

Those that can afford it get low interest rates and those that cannot afford it get penalised even more!

Maybe those that cannot afford it should not be taking out loans? Or is that all a bit radical?