Just rob this from CAG

yung

Banks whingeing over IVA.

http://business.guardian.co.uk/story/0,,1883603,00.html#article_continue

Pobby

Well,what do the banks expect.They have had an orgy of lending money over the last few years,frankly I really am amazed at what has happened.Do the banks not factor into their loans that peoples situations can change in a dramatic fashion.Redundancies,divorce,illness,these are things that can and do happen.Many people here {and I think it is commendable} are quick to take responsibility for their debts.However,on the other hand,the financial institutions have thrown around money like it is going out of style.

Much of this,imho,is based on the ridiculous rise in house prices.I know of folks that blindly have taken on mortgages which frankly scare me.It seems that some have taken leave of their sences.Just because interest rates and abnormally low at present doesn`t mean that it will continue in this fashion.

Borrowing money is a two way affair.

james32_uk

And this is with a stable buoyant economy. Just wait until the crash!