20% rise in people in debt going to CAB

Gemmzie

ZTD wrote: »

In which way exactly?

Choking easy to get credit, cracking down on who gets given what

Gemmzie

This site and direct quotes from Martin in the newest "Student Survival Guide" sent to all UCAS applicants

ZTD

Gemmzie wrote: »

Choking easy to get credit, cracking down on who gets given what

There will be fear, and that will make credit harder to get for a while. That's to be expected.

However, IMHO, this is not "the big one" and that fear will dissipate and credit will become easy again - at least for a while.

ZTD

rog2 wrote: »

It is, however, interesting to note that the American Government will, often, use interest rate cuts as an effective tool to help debtors who can no longer meet their regular payments, whereas the UK appears to adopt the opposite principle by raising interest rates and 'accepting' that this will result in increasing numbers of insolvency.

The Americans are not bailing the debtors out. If the debtors fail to make payments, the banks (etc) will go bust. They are bailing the banks out. The UK government seems to have a higher opinion as to the solidity of the UK banking system.

I hope the UK Government knows something I don't.

ZTD

rayday2 wrote: »

UK governments just don't seem to trust us, we get taxed highly and then the credit system giving it us back,

Nothing to do with trust. It's to with trying to make you feel gratitude towards the current Government for giving you all this "free" money - so you'll vote for them.

I know what you're going to say about it being "free" - but the stunt probably works with Chavs...

rayday2 wrote: »

ZTD - there has over the last month been a financial crisis in the worlds money markets because of the USA

Yes, but that crisis has been multi-facetted. I was curious as to which facet Gemmzie was talking about.