MONEY MORAL DILEMMA. Would you take the job?

kitkat33_2

absolutely yes i would take it. Its a wage whilst he is looking for something else and stopping him getting further in debt.

Pricefamily4

of course she/he should take the job she/he has a responsibility that if she/he has got themselves in debt the she/he has to get themselves out of it.

I have to work for a huge American company that have loads of dodgey Iraq contracts purely because the money was better than my last job and I have a family to look after so my morals and Anti-american/iraq fiasco has to be put on the back burner!!

madasahatter_2

It would be totally wrong to take the job and whatever financial fix I was in could not justify me helping to make others worse off than they already are.

Why are Credit Unions not given a higher profile in this country as they are in Ireland?

The_Haunted

Take the job. If other people are stupid enough to take out huge debts at massive APRs that's their problem. I'm fed up with the hand holding and lack of personal responsibility many people have come to expect. If you can't afford it, don't buy it.

If you are not happy doing the work then look for another one after you take the job; I believe it is easier to get a job when you are already employed.

welshboyglos

I needed to change my job recently and interviewed for a lender that was part of the HSBC group that deals with credit agreements for stores and the role was selling more credit to people in the form of loans at sometimes in excess of 30-40%APR.

Having worked for a reputable building society processing mortgage applications the job would have been ok but I did not accept the offer after listening to a call when waiting for the interview. This company would offer a loan to someone and in order to lend them more money they would act (in my opinion) in an unethical manner.

They would use applicants benefits, including Child Benefit, as a basis of calculating income so they could borrow more money at the highest rate they could get away with. Morally I feel that it was wrong as such benefits are simply not provided for that purpose.

I couldn't and would not work for such a company - if Sam does not hold such moral values then the job wouldn't be so bad - if like me you do have an issue with such things, stay away - depression would kick in within weeks!!

Andrew

heysuzy

Absolutely not!! I'd rather be poor and in debt than take advantage of vulnerable people. You might as well be stealing from blind people. I believe it's wrong, no matter what the reason!

mrwibble

galenvanbrok wrote:

For example just the other month I got a phone call from Carphone Warehouse offering me a shiny new handset. During the telephone conversation I somehow managed to verbally agree to a new 18 month contract on less than favourable terms, with no cooling off period and a recording of the conversation I appear to have been had. .

Well I agree you need to be careful but unfair contract terms can be unlawful - check distance selling reg although your lack of knowledge there means its probably > 14 days now so best bet is to ask for proof of contract.

galenvanbrok wrote:

... in a free market economy there will be a spectrum of options ranging from what might be reagrded as a good deal to the other end that constitutes a bad deal, some consumers profit and other lose.
...Irresponsible operators will escalate the cost of insurance that has to be spread amongst everyone. If such systems were not in place all of us would have to pay ever more per holiday to safeguard the fools that book holidays the terms of which are just to good to be true.

Agreed 100%

galenvanbrok wrote:

Each time a moneysaving expert wins a small victory and so cuts the profit margins of business that same business or industry must strive to maintain margin by exploiting the less financially astute.

Disagree 100% - perhaps some might however you don't just keep to your ROI / margin / revenue targets by diving down the IQ scale - regardless of industry. This "price increases all round" mentality has been the bane of British industry for many years - you make can make revenue / margin by increasing productivity whether its increasing customer value for money by web-enabling applications or just producing widgets faster or to better quality. Price is just one tool in your armoury - product is the real driver. In my industry we need to add value / services to increase our value to customers - some "moneysaving" customers do drive down our margin but we drive it up by adding value not by targetting stupid customers (see Dilbert's fictional employers mission statement !). Its not a zero-sum game !

galenvanbrok wrote:

So if you feel that this individual shouldnt take the job then be prepared to forego next years no claim bonus on your car insurance, or get a little more interest on your credit card or a little less interest on your savings.

The performance of the doorstop lending industry will NOT affect the larger insurance / credit card / pensions / savings market - do the maths - they are many orders of magnitude larger ! Oh and how many of these huge businesses are so dependent on doorstop lending that they need to whack up premiums all round to Joe Public ? Think about it - if you need doorstop lending you are hardly likely to have a huge pension pot / be a good credit risk / driving in a high performance car (well legally anyway) - these pull in a tad more than Mr Shark lending £500 at 60% APR to his relatively small target market. They meet a (small) market need - whether thats the best source is debateable and where MSE.com comes in !

galenvanbrok wrote:

My advice would be then to look at the young and financially naive customers and savour the valuable financial education you will impart upon them. With any luck they will, for the remainder of their financial lives, come to appreciate your valuable instruction.

Agree 100% - learn fast or pay the price

mrwibble

madasahatter wrote:

It would be totally wrong to take the job and whatever financial fix I was in could not justify me helping to make others worse off than they already are.

Why are Credit Unions not given a higher profile in this country as they are in Ireland?

Well I agree with your first point - I certainly would not sell anything that I did not have confidence in.

The answer to your second point is better marketing - if there is a market worth addressing why don't they ? Its not as if there is a lack of capital for financial services businesses !

mrwibble

Pricefamily4 wrote:

of course she/he should take the job she/he has a responsibility that if she/he has got themselves in debt the she/he has to get themselves out of it.

I have to work for a huge American company that have loads of dodgey Iraq contracts purely because the money was better than my last job and I have a family to look after so my morals and Anti-american/iraq fiasco has to be put on the back burner!!

Well your ethical principles obviously come lower in your hierarchy of needs than cash - lots of jobs out there as another poster mentioned (my company is recruiting btw !) - what price your ethics when "... the money was better than my last job ..." ? Would you rather have worked for Saddam and sold "torture solutions to the discerning dictator" just to salve your "Anti-American" predjudices. Regardless of the real reason for the invasion Saddam is due to face his maker soon (I disagree with the sentence - kill killers etc - but I'm sure the Iraqi President is going to ignore me) - Halliburton or whoever you work for is providing services that probably don't directly result in death / destruction (and even if they do the Yanks don't usually tend to kill unarmed people en masse just because they have a different religion / political viewpoint).

JayD

No I would not take the job.
Struggling to live on benefits is already very hard and I could not increase their misery by 'selling' them a high interest debt.