What makes people ask for advice in this forum and not via a bank or something?

enthusiasticsaver

I like to think I give and receive advice. I had 5 years of debt counselling training with a large bank so have interviewed and hopefully helped many people who were on the verge of repossession. I have seen many of the pitfalls they fall into and seen these repeated many times on threads on this forum.

Similarly as a novice investor who notoriously mistrusts financial professionals I like to hear from investors on this forum about their opinions (never advice) and then go away and do my research. Sometimes they mention things I have not thought about. Also this is the quickest place to find out about rate changes, changes to terms and conditions and feedback is interesting. That is not to say that people should not check their own terms and conditions from the banks of whatever product they are taking out but it is just an extra way of dotting the i's and crossing the t's.

fatbelly

What makes people ask for advice in this forum and not via a bank or something?

:eek:

I have been around long enough to remember the appalling behaviour of banks around ten years ago, whose idea of 'help' was to sell consolidation loans with around a third being added to the debt for a ppi product, and the poor punter couldn't afford the first monthly instalment!

Things are a little better now, thanks to the OFT and FCA ... but I would still say that a bank is the last place to go to for debt advice

Southernman

I don't post here often as I'm in the fortunate position to not be in debt but as a banker (boo) who works in conjunction with FOS, specialising in customers complaints regarding debt/struggling financially/in arrears, i find it really helps me to look at both perspectives when trying to give an unbiased outcome and doing what is right and fair.

Reading honest peoples thoughts and feelings here, helps me with my job by looking at the bigger picture. I can fully understand the struggles and put myself in others shoes as a result. I think it really helps with the decisions I have to make when considering each individual case and therefore it's rare that the investigators at FOS disagree with my stance.

The community is great here and the advice given is always what i would give. I accept this may well be very different from a member of a bank's sales team who will have targets.

Smodlet

It must be just me then... I don't understand why anyone is indulging this. At best, this is the kind of question which should be asked on a paying site. OP, is this for a dissertation or are you just bored? Pay me £5 on Prolific Academic or some such site and I will indulge you all you want.

Sanctioned_Parts_List

It's not just you, Smodlet.

Anyway, surely the reason's obvious?

Anonymity

sourcrates

Smodlet wrote: »

It must be just me then... I don't understand why anyone is indulging this. At best, this is the kind of question which should be asked on a paying site. OP, is this for a dissertation or are you just bored? Pay me £5 on Prolific Academic or some such site and I will indulge you all you want.

Wouldn't surprise me if they worked for a marketing company, or some sort of debt management outfit, happens occasionally, new poster, registers just to ask a seemingly pointless question.

andyfromotley

I do it to stop the sheep screaming inside my head..................

Smodlet

andyfromotley wrote: »

I do it to stop the sheep screaming inside my head..................

There, there... baaaahhh the way, you're just as sane as you think you are. :cool: