Repossession, Repossession, Repossession

mystic_trev

During the past decade, Britain has grown accustomed to living the high life on debt. Now, as home repossessions and bankruptcies soar, business journalist Jeff Randall investigates how and why the nation got hooked on spending money it doesn't have - and concludes that people are about to wake up to the painful realisation that all debts eventually have to be paid


Wednesday - ITV 1 from 10:35pm to 11:35pm

lynzpower

Its one after the other these days isnt it.

I was cursing i MISSED the one last night et voila another one tomorrow.

Isnt LLL on tomorrow as well? :rotfl:

pinkshoes

mystic_trev wrote: »

During the past decade, Britain has grown accustomed to living the high life on debt. Now, as home repossessions and bankruptcies soar, business journalist Jeff Randall investigates how and why the nation got hooked on spending money it doesn't have - and concludes that people are about to wake up to the painful realisation that all debts eventually have to be paid


Wednesday - ITV 1 from 10:35pm to 11:35pm

Well, people naively/stupidly believed that if they were offered credit, then they must be able to afford it, and now many of these same people are going round blaming the banks/lenders for getting them into this mess.

Personally I'd like to see people take responsibility for their own stupidity and actions, and stop trying to blame their failures on other people, so I hope this business journalist isn't going to try blaming it on banks and lenders, making all those people being repossessed feel like victims.

They're not victims, they made their own mistakes, didn't do the maths, didn't plan into the future, didn't plan for unforseen circumstances.

I really hate the no blame culture in this country!

Phirefly

pinkshoes wrote: »

Well, people naively/stupidly believed that if they were offered credit, then they must be able to afford it, and now many of these same people are going round blaming the banks/lenders for getting them into this mess.

Personally I'd like to see people take responsibility for their own stupidity and actions, and stop trying to blame their failures on other people, so I hope this business journalist isn't going to try blaming it on banks and lenders, making all those people being repossessed feel like victims.

They're not victims, they made their own mistakes, didn't do the maths, didn't plan into the future, didn't plan for unforseen circumstances.

I really hate the no blame culture in this country!

I agree. And it gives me mixed feelings about some of the prevailing ideology of this site. One of the headlines on the home page is

A company's job is to make money from you, ours is to stop it!

I'm not sure I'm comfortable with this. Businesses need to make a profit. Fair enough, we should all strive for value for money but the economy would go down the pan if they stopped making money from us. And also if we stopped making money from our customers, whatever it is we do.

Ok, often financial products are missold and fees are disproportionate to admin costs, but I've yet to see a report on anyone in this kind of mess that made me think 'gosh that person was so financially savvy and understood all the risks and yet they've still been really screwed over through no fault of their own, how unfair'.

Generali

Our job isn't to stop a company making money. I'd rather buy a shirt for a fiver from a company making a 50% profit than the same shirt for a tenner that's making no profit.

Our job as consumers is to get the best value for money we can. If companies can make money by supplying that market then good luck to them. It's why the British approach to poor service (shrug shoulders, grumble, keep buying) annoys me so much - it means that I end up getting terrible service too.

dannyboycey

jamesguys wrote: »

http://uk.youtube.com/watch?v=eQkrPsiGPDs

This fool is spamming the forum with the same link - the 'guy' clearly has issues that go beyond his lack of understanding of the housing market! :rotfl:

Guy_Montag

Generali wrote: »

Our job isn't to stop a company making money. I'd rather buy a shirt for a fiver from a company making a 50% profit than the same shirt for a tenner that's making no profit.

Our job as consumers is to get the best value for money we can. If companies can make money by supplying that market then good luck to them. It's why the British approach to poor service (shrug shoulders, grumble, keep buying) annoys me so much - it means that I end up getting terrible service too.

I was recently staying in a hotel for a week with work. It was pretty poor quality, for the cost. In the past I wouldn't have been too bothered - not my money, but these days I've started turning into an arch-capitalist so now I feel aggrieved that I am keeping the place in business. Unfortunately work had paid it all up front, so I couldn't move.

zebulon

mystic_trev wrote: »

During the past decade, Britain has grown accustomed to living the high life on debt. Now, as home repossessions and bankruptcies soar, business journalist Jeff Randall investigates how and why the nation got hooked on spending money it doesn't have - and concludes that people are about to wake up to the painful realisation that all debts eventually have to be paid


Wednesday - ITV 1 from 10:35pm to 11:35pm

what I don't understand is how it took so long to get to this realisation - I moved to the UK almost 5 years ago and it took me no more than 3 months to realise that people were living dangerously on loans/credit cards etc. I was shocked.
Funny how people were just staring at me with blank looks when I was talking about this to them.
(I have also always been very amused by the whole property ladder thing obsession.)

I do love watching these shows

Jorgan_2

zebulon wrote: »

what I don't understand is how it took so long to get to this realisation -

Sadly a lot of people still haven't realised. It never ceases to amaze me when I attend repossessions to see a year old car on the drive. People need to learn whats important and what isn't.

jyonda

Out of curiosity Jorgan, in what capacity do you attend repossessions? Have you seen a marked increase in this area professionaly or is it more of a hobby?

mystic_trev

lynzpower wrote: »

Its one after the other these days isnt it.

I was cursing i MISSED the one last night et voila another one tomorrow.

Isnt LLL on tomorrow as well? :rotfl:

Hi Lynz- You'd have loved it!

You can watch again on the BBC wotsit They had some lovely [STRIKE]crack dens and brothels[/STRIKE] Luxury apartments in Thamesmead, that had gone down 'somewhat' in value :rolleyes: