What are people spending their refunds on... or are they being good & clearing debts?

(Land_of)_Maz

just wondered as so many people are saying at the end of their success stories "Whey hey, holiday courtesy of Barclays bank" etc etc.

Haven't had any chanrges back yet, but am already considering what I'll spend it on. Don't want to be unsensible either!

M

natweststaffmember

Most people are clearing debts Maz, but to be honest it is none of our business either. They were deprived of it by the banks so they will be able to do what they have wanted to do and in the process reclaim their control over their finances because of the information they will have hopefully digested. I guess it all depends on how much money you will reclaim as to what you spend it on.

Stephen_Leak

I suspect that most are clearing debts. After all, this is MSE's of whom we speak.

Some may not be given much choice: if there is an outstanding debt with the bank or credit card company involved, which is not the subject of a separate contract, they can and will offset any monies reclaimed against that debt.

Those without debts, obviously, have a wider choice.

However, I do see post from people with massive debts, moaning that the bank won't repay their charges by cheque. I cannot agree with that point of view. But then again, I recall one post like that, who then went on to explain that they wanted to use the cheque to pay off another higher interest debt with someone else. There is always an exception, which proves the rule.

(Land_of)_Maz

yeah, i assumed like you two that, as most of us are striving to be debt free, that people would pay debts, but a great many of the success stories are saying holidays, shopping etc.

I agree too, that it's none of our business, btw! Just if people wanted to share.

I think I'm hopingin hearing that's what people are doing, that i will see sense and put it straight to bills!!! In the case of those with existing debts sitting, i've offered to take credits to offset the balance. I hope this is viewed as more favourable in terms of result!