How will the Bank of England cracks down on credit affect stoozing?

Hello all,


I've been lurking around on this forum for years. Finally decided to join the community that has helped me so much!


What are your opinions on how will the Bank of England's cracks down on credit affect stoozing?

Replies

  • StopItStopIt Forumite
    1.5K Posts
    It'll not do anything pretty much.


    it's not a crack down so much as a reminder to lenders that they're meant to adhere to their lending criteria.


    As those Stoozing generally pay back their "debts" as the debt is literally on paper only, I doubt much will change at that end. Maybe A few companies will offer a bit less, but as this is the BoE telling lenders to manage their risk, culling risk-free custom is not what the response should be.

    In debt and looking for help? Look here for the MSE Debt Help Guide.
    Also, If you need any free and impartial debt advice, the National Debtline, Stepchange, and the CAB can help.
  • ThrugelmirThrugelmir Forumite
    89.5K Posts
    Part of the Furniture 10,000 Posts Name Dropper Photogenic
    Forumite
    By forcing lenders to hold more capital on their balance sheets. Then lenders will need to earn more money on the money they lend out. By one method or another. The net effect will be to tighten the screw a little.
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