Where do our debt problems really lie???

shamu95

I agree that it is my mess and my problem. However i do think that if the credit companys had been more human and understanding then i wouldnt be in such a mess.
As i have spoke about before i became very ill when pregnant with my son. I spent 3 months in hospital and in total had a year off work. All my credit had payment protection- however only one company helped out the others said they couldnt as it happened whilst pregnant-even private healthcare wouldnt pay as pregnant-despite consultants letter explaining that it would have happened anyway.
Obviously this made my posistion as such that i was robbing peter to pay paul and this is how all my problems started. Maybe and i do only say maybe they had frozen the interest or made me able to make token payments i wouldnt be in as deep as i am now. Prior to being in hospital i had no missed payments and an excellent credit rating.

chunky79

I actually do think some companies or even all of them have to take alot of the blame. For example a fews years back OH was earning half of what he is now and was offered a cc with no interest for the first 12 months, When the card arrived it had a 6k limit. Also we had a loan for 10k. We used the card until the term ended and then went to consolidate which was the plan all along, When we went in to consolidate the bank manager was brought to agree that we could pay it although OH was earning double and i was also back at work and that we would be paying over £100 a month less. Also suggested we remortgage our house for a further 6k, !!!!!!?

We now have a cc card and the offered amount £500, which is fine as it is only for online shopping.

They offer more to people without money knowing that they are more likely to max it up and only ever be able to afford to pay the minimum repayments and take 20 years to pay off a 2k credit card.

It actually sickens me that this is allowed. I worked in car finance and the better deals always went to the ones with more money. Same goes for loan companies who only ever offer the fabulous rates to those earning over 35k, that makes sense doesn't it. The one who need fab rates simply are not given them.