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Easy Credit already!!

I am not sure others have had a similar experience but a colleague of mine has in the recent past applied for 8 different credit applications, between credit cards, buying home goods on credit all in total approx £30,000 with already having over £100,000 in credit between him and his OH.

I had actually advised him not to apply for so many credits in such a short time(2 months) but he anyway went ahead and did it and was sucesful..

I was surprised that credit is so easily available after all the sc..w ups in the financial system..

Though my mate has loads of savings to take care of the debt this data is not available on the credit fileso I am surprised that lenders have already got back to their greedy old ways!!!!

not that I am unhapy am gonna apply for a £20k loan myself!!:rotfl::rotfl::rotfl::rotfl::rotfl:
:beer::beer::beer:

Comments

  • TFD_2
    TFD_2 Posts: 907 Forumite
    udydudy wrote: »
    I am surprised that lenders have already got back to their greedy old ways!!!!

    They haven't. Credit is harder to get, and more tightly controlled than it has been in the past, irrespective of your post.
  • udydudy
    udydudy Posts: 559 Forumite
    Part of the Furniture Combo Breaker
    TFD wrote: »
    They haven't. Credit is harder to get, and more tightly controlled than it has been in the past, irrespective of your post.

    Yes now they do not give credit to people who are high risk...but overextending credit to people wo have paid regularily in the past but a high incoem/debt ratio is not exactly responsible lending..

    They are just making suure they keep lending(which is their business!)....but ensuring the ones who kept paying till today will getoverwhelmed tomorrow and all banks finally either sell on the debt r insure them!!..

    As an Ex-Investment banker.. This is the same...greedy bankers...reckless lending!!!...... heading for the next dip before they learn!!!!!!!!
    :beer::beer::beer:
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