Banks ring you to tell you to cut your spending

cally6008

Now banks ring cash-strapped home owners to warn: Cut your spending... or risk losing your home

• Banks admit secret checks on 'high-risk' customers
• About 30,000 home owners to be contacted
• Other lenders expected to follow suit

Read more: http://www.dailymail.co.uk/news/article-2031934/Now-banks-ring-cash-strapped-home-owners-warn-Cut-spending--risk-losing-home.html#ixzz1WatL2HSc

opinions4u

Headline:

"Bank accused of trying to tell customers to be sensible with their money"

Sounds like a slow news day for the Daily Mail.

pmduk

As soon as I saw the thread title I knew which rag that came from. What's wrong with a bank warning you in advance of a potential problem ensuing from forthcoming interest rate rises? Prevention is better than allowing a problem to develop. Unfortunately, that can't be made to fit the Daily Mail's Agenda.

Going4TheDream

If someone owed me a £100 yet they were going off for nights out and not paying me, I would also be inclined to remind them that they owe me money. I work with a guy who is in a financial mess of his own making and is dreading a mortgage rate rise should it happen, can hardly afford to fill his car to get to work by the end of the month and all he does is harp on all day about how unfair it is, how skint he is whilst waiting for pay day to come around so he can go on nights out and plan his social life. Some people might need this kind of kick up the backside to get their priorities in order

smartiedriver_2

Brilliant idea.

scott_lithgows

Bradford+Bingley and Northern Rock lost their independence due to daft spending........

barak

scott_lithgows wrote: »

Bradford+Bingley and Northern Rock lost their independence due to daft spending........

....or daft lending!

Fiddlestick

cally6008 wrote: »

Now banks ring cash-strapped home owners to warn: Cut your spending... or risk losing your home

• Banks admit secret checks on 'high-risk' customers
• About 30,000 home owners to be contacted
• Other lenders expected to follow suit

Read more: http://www.dailymail.co.uk/news/article-2031934/Now-banks-ring-cash-strapped-home-owners-warn-Cut-spending--risk-losing-home.html#ixzz1WatL2HSc

What's wrong with that?

If I'd lent someone a quarter of a million then you can be sure that I'd be doing due diligence to make sure that I got my money back.

Next year's yacht isn't going to buy itself you know!

KingElvis

LOL at least someone has the guts to tell people to prioritise important debts over frivilous trash like Apple phones and grubby SKY TV deals.....good

If you're having problems paying probably the most imprtant thing, the last thing people should be thinking about is buying worthless electronic tat, going out or watching gormless TV

Rupert_Bear

You can understand the banks taking this stance when so many foolish people in the past have just done a Viv Nicholson. Just take a look at the debt forum.

Xbigman

Its interesting no one on this forum has a problem with this. Myself included.
The Daily Mails article (in fact a lot of their stuff) is very one sided. My understanding is that the banks are only phoning people with defaults or late payments on their credit history to remind them their mortgage is a priority debt. Whats wrong with that?

The down side of this (which the Mail hasn't picked up on) is what use the banks will make of any information they get during the phonecall. What will the bank do if you tell them you're ill, or being made redundant, or have a gambling habit. That sort of thing.
Banks are notoriously unsympathetic when they think their money is at risk.



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