Debt suicide. The banks' fault or the deceased? Blog Discussion

elantan

you just wanted to hear martin say read ss's diary for the funniest stories you could ever wish to hear:D

Mirtos

elantan wrote:

sorry mirtos crossed messages with you there

It felt like school again for a minute there! :rotfl:

southernscouser

What I want to know is why there are guidelines/limits for secured lending but not unsecured?

I understand the principles behind secured debt but it doesn't necessarily make unsecured debt any less devastating!

Mirtos

I don't understand it either - and it's worrying, because this 'booming economy' the government keep telling us about is fuelled by debt - so when it falls, it'll really crash, and I'll probably be underneath! :eek: There really need to be measures in place to curb the amount of personal debt - and people should be much more worried than they are - the level of debt-awareness is shocking. Martin's right about how we educate our students in to debt - I racked up £30+k of debt during my BA, and a further £23k for my MA, yet no one was teaching me how to get out of it. If we expect graduates to make a contribution to society, we really need to teach them how not to end up bankrupt before they even have chance to launch a career. I'm not being very articulate I know, but I get very stressed by the general ignorance of debt-related issues in the population at large. :mad::eek::eek:

southernscouser

Perhaps Martin should start a campaign for new legislation into unsecured lending! *nudge nudge* *wink wink*!

Mirtos

southernscouser wrote:

Perhaps Martin should start a campaign for new legislation into unsecured lending! *nudge nudge* *wink wink*!

Mmm. YES MAYBE HE SHOULD!

Do you think he's listening? Should we shout louder??? :rotfl:

elantan

poor guy never gets a minuet's break from all our questions ...guy needs a knighthood

kinged_uk

In fairness to the guy from the bank I have been nagging Tescos a couple of times for an increased credit limit (I use the card for work expenses and enjoy the rewards of all those clubcard points - hope they don't change the old-style any time soon) but they won't let me because I still have a relatively small overdraft on my current account with Natwest.

I'm seriously considering a moneyback credit card or possibly even using the marriott credit card as I'd get a better tesco points ratio for spending that way
)

southernscouser

kinged_uk wrote:

In fairness to the guy from the bank I have been nagging Tescos a couple of times for an increased credit limit (I use the card for work expenses and enjoy the rewards of all those clubcard points - hope they don't change the old-style any time soon) but they won't let me because I still have a relatively small overdraft on my current account with Natwest.

I'm seriously considering a moneyback credit card or possibly even using the marriott credit card as I'd get a better tesco points ratio for spending that way
)

In fairness! :eek: He is the opposition remember!

But seriously, I assume your CC gets paid of in full every month?

If so it's not in RBS' interest to increase your limit as you are making money out of them! However, it seems that when they are making money out of you they are more than willing to open the floodgates to earn even more from you! :rolleyes:

Mirtos

But then, I'm currently £18k in debt on £15k salary, plus what I earn from my second job (unprovable income) and in the past month have been approved for a barclaycard AND an M&S card. This is fine by me, because I'm going to be transferring balances to reduce the interest I pay, but in actuality, I could just spend spend spend. No one can tell me that THAT is lending responsibly - if they were responsible, NO ONE would give me credit.