Personal debt mountain as big as it ever was.

Graham_Devon

julieq wrote: »

Bear rule 1: A VI is only a VI if it supports a bull argument. If it confirms bear bias it becomes a trusted, independent, organisation.

Are you not doing exactly what you suggest?

Coming to a thread, seeing something that has gone against what you have previously stated, not even attempted to discuss anything, and therefore, in a roundabout way, claimed it's all a VI?

JonnyBravo

CRASH_BANG_WALLOP wrote: »

Bear Rule 2: Try not to get into a debate with julieq. Especially about the economy. Its easy to moligate her on this subject. Therefore she soon begins a hissy fit

:rotfl:

I was about to post

":eek:

Moligate from CBW! Every day a school day!"


So I looked it up, to see what it meant, and I can't find it. Help please.

kabayiri

I do worry about the rise and promotion of payday loan companies.

It's an extremely expensive way of accessing short term funds, and the tv ads make it seem so easy. A low income person who gets locked into using these services is going to struggle to wean themselves off it.

We are going to have to accept a debt-based society is here for a good few years, so perhaps it is about trying to support low cost debt ?

ILW

kabayiri wrote: »

I do worry about the rise and promotion of payday loan companies.

It's an extremely expensive way of accessing short term funds, and the tv ads make it seem so easy. A low income person who gets locked into using these services is going to struggle to wean themselves off it.

We are going to have to accept a debt-based society is here for a good few years, so perhaps it is about trying to support low cost debt ?

Ot possibly get people to accept that you cannot always have what you want NOW.

michaels

Full of interesting facts like twice as many renters lose their homes each day as homeowners.

Average interest rate payable only about 4.4%, after write offs return to banks about 4%.

Total debt up .4% yoy or down 3.2 / 1.6 percent in prices adjusted / income adjusted terms.

And don't even get Hamish started on those population growth figures.

So headline figures suggest debt is falling in real terms - of course there may be a big issue with income/debt distribution but of course the totals won't show that.

nearlynew

JonnyBravo wrote: »

:rotfl:

I was about to post

":eek:

Moligate from CBW! Every day a school day!"


So I looked it up, to see what it meant, and I can't find it. Help please.

Emolliate, maybe?

kabayiri

ILW wrote: »

Ot possibly get people to accept that you cannot always have what you want NOW.

But how do we achieve this, without undermining the consumer driven economy?

ILW

kabayiri wrote: »

But how do we achieve this, without undermining the consumer driven economy?

A short period of pain for a better future.

As opposed to the current thinking of a short period of fun, followed by years of heartache.

The majority of credit spending has been going on imported goods anyway.

zanuda

Personal debt mountain ...

I always wander how they calculate these numbers. I have really big suspicion that they overlook some factors and if, let’s say, we make a pole here on the forum to get the same data we would get different picture...

N1AK

shortchanged wrote: »

This report doesn't make for good reading for Georgie boy or Sir Merv.

I think a lot of people underestimate their debt, assuming we include mortgages. Between that and student loans our household debt is ~£90,000. We have ~£25,000 in liquid assets and the equity in the property, but that doesn't change the fact that we have considerable debt.

What would be more interesting to know is how debts, and debt interest are changing against expendable income. That would give a clearer picture of how dangerous debt levels are.