Debt suicide blog (relating to Tonight with Trevor)

Former_MSE_Andrea

Evening everyone,

Martin's just written a blog relating to the Tonight with Trevor programme he's done that's on 8pm this evening, ITV1.

It makes pretty interesting reading.

Here's the blog

If you want to discuss it, can you reply on the discussion thread for that blog and not here? Ta

Mum_on_a_mission_2

quick bump to keep this at the top!

Tr@cker

The banks have a lot to answer for with irresponsible lending and they appear to be taking no notice.

iaintwoeyes

I agree with Tr@cker, the banks are happy to throw money at you and when you end up in debt....they're not interested until you're seriously behind with the payments.

Even then they still offer you even more money!!!!!:mad: :mad: :mad:

Hereward

To be fair to the banks, they do not force people to borrow money, they only provide the funds.

southernscouser

Hey folks! This is the thread to discuss the programme!

http://forums.moneysavingexpert.com/showthread.html?p=3027288#post3027288

moozie_2

Bump bump x

postingalwaysposting

tr@ker i also echo what you have said, surely there must be a law/act to stop this though...

i watched this programme and read the blog, i cant believe that the same bank was chasing him for money and then giving him more credit. When i first heard martin say that i thought 'no he must be wrong' but sadly it was true. This is when i finally realised banks/financial companys dont care about you and to them you are a number/creditcard number/or a name, i suppose they did it to get more 'money' from this man as he wasnt paying it back so they were adding interest and charges... sadly i believe this man could have been saved with some help/guidance

f3lix

Hereward wrote:

To be fair to the banks, they do not force people to borrow money, they only provide the funds.

But they seem to go out of their way to persuade you to borrow!

I recentely had a letter from the Halifax telling me how well I looked after my account, and why don't I borrow some money to treat myself to a new car or a holiday!!

Hereward

postingalwaysposting wrote:

tr@ker i also echo what you have said, surely there must be a law/act to stop this though...

i watched this programme and read the blog, i cant believe that the same bank was chasing him for money and then giving him more credit. When i first heard martin say that i thought 'no he must be wrong' but sadly it was true. This is when i finally realised banks/financial companys dont care about you and to them you are a number/creditcard number/or a name, i suppose they did it to get more 'money' from this man as he wasnt paying it back so they were adding interest and charges... sadly i believe this man could have been saved with some help/guidance

Although there was only one bank involved for £35l on various cards, each card was from a separate unit within that bank, each of which act as separate companies. When you look at the debts in the correct timeframe, sure the DPA stopped the right arm from telling the left arm what is was doing. Today I do not think it is as much of an issue as most financial institutions have changed their T&Cs to enable them to share such data between different divisions and rival institutions in an attempt to eliminate these sorts of problems.

Hereward

f3lix wrote:

But they seem to go out of their way to persuade you to borrow!

I recentely had a letter from the Halifax telling me how well I looked after my account, and why don't I borrow some money to treat myself to a new car or a holiday!!

True, but then the banks, and building societies, are in the business to make money for their investors/savers; therefore, I would expect them to try and push their other services. Just because their other products are advertised doesn’t mean that you have to use them: people need to accept some responsibility for their own actions.p>