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What happens when.......?
Comments
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There will be huge black holes in balance sheets, and someones got to cover it, i.e. sensible people like you and me.
If even the tax payer cant cover it, you're probably looking at the end of the currency, and some seriously hard times, in which your priorities will be guns, food and possibly gold.
Can't we just eat the defaulters?0 -
Graham_Devon wrote: »Bankruptcy lite?
Didn’t know about DROs but I suppose most people who use those would go bankrupt sooner or later it doesn’t help people who want actually pay back dept.0 -
Didn’t know about DROs but I suppose most people who use those would go bankrupt sooner or later it doesn’t help people who want actually pay back dept.
That wasn't part of the discussion.
I could go on. We've seen articles posted on here, whereby people have debt and cannot afford for interest rates to rise, or cannot afford for SMI to come to an end.
Theres been a lot of things that have made it easier to cope with debt since 2007. Where would we be now, in all honesty, without QE, interest rate reductions, SMI support kicking in at 13 weeks instead of 39, and pressure not to reposess?
Woud we HONESTLY be in the same position as now? Or would people have found it harder to cope?0 -
It's deBT.0
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The point is - their DEPT is your DEPT............0
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We could reinvent debtors' prisons"It will take, five, 10, 15 years to get back to where we need to be. But it's no longer the individual banks that are in the wrong, it's the banking industry as a whole." - Steven Cooper, head of personal and business banking at Barclays, talking to Martin Lewis0
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