Hard Selling by Banks.

Morglin

Thanks all.:T

I'll try sorting out my preferences today.;)

moooooo

What you've got to remember is that not everyone has the common sense to run their accounts as well as you do. Some people really do need to be approached about things like this.

I saved someone £300 PER MONTH by moving her balances from credit cards and onto a loan.

You say that you can't afford to be in debt, well some people can't affor the debt they have, and if the bank didn't offer them another option, they'd never know they could get anything better.

Phoenix79_2

Banks are sell sell sell now. The staff have it drummed it into them. Don't blame them.....they hate it just as much as you.

The only way to avoid it is to put all your money under your bed and don't bother with banks!

Xbigman

moooooo wrote:

I saved someone £300 PER MONTH by moving her balances from credit cards and onto a loan.

So you 'sold' someone a consolidation loan, meaning more debt for longer and more profits for you company. And thats if that person is one of the 20% who doesn't slip back into using credit cards. You have just done exactly what everyone is complaining about! How do you live with yourself? Just don't push that line of drivel on here.

Now if you had directed them to this website and the debt free wannabe board you would really have helped them.



X

Morglin

moooooo wrote:

What you've got to remember is that not everyone has the common sense to run their accounts as well as you do. Some people really do need to be approached about things like this.

I saved someone £300 PER MONTH by moving her balances from credit cards and onto a loan.

You say that you can't afford to be in debt, well some people can't affor the debt they have, and if the bank didn't offer them another option, they'd never know they could get anything better.

The point I was making is that we are on a fixed income - and in order that we can sleep at night, we cannot afford to be in the position of too many debts and no way to pay them.

I've been over committed when the kids were small and it's no fun - no way do I want to go down that road again.:eek:

If I took up the bank offer we would also be in the position sooner or later of not being able to afford the debt we have - especially as I am one of life's spenders - luckily my husband does know how to budget!

Consolidation is ok provided you destroy all the cards - lots of people take the loans, still use the cards and then end up in a worse mess - the most unethical adverts on TV (I think) are those touchy-feely SECURED loan ads where they want people to put their home up as security in order to "consolidate" - even those already in mortgage arrears.:mad:

We currently run two credit cards - one Tesco and one M&S More - both are interest free for a time, and when they are not, then we will change to another "no interest" one. We have very small balances, and so, any bank loan would, in fact, cost us more.

As for NatWest - as these calls weren't from call centres (but from the manager/staff of our branch, which is a very small market town branch), I would have thought that by telling them that it wouldn't be a good idea to get us into debt, they would listen.

As far as I'm concerned, these banks are still irrresponsible lenders, despite the ever increasing default levels.

Phoenix79_2

Morglin wrote:

As far as I'm concerned, these banks are still irrresponsible lenders, despite the ever increasing default levels.

Banks aren't concerned. They make more money every year.

Ultimately it falls down to the individual to say 'no'

regularsaver1

Branches have targets to sell loans - they are a bank. They sell loans, credit cards, bank accounts, mortgages - just as tesco sell food ect