Repossession, Repossession, Repossession

MiserlyMartin

This programme was disappointing. They have done nothing to show the masses that the borrow and spend culture can't go on. Because anyone who watched it would have thought that the only people who get into problems are stupid morons; as they showed 3 people/families who had to have been excessively stupid to have ended up in those situations.

1. The horse racing guy. What an stupid attitude he had. £1M in debt wasn't he but still drove big cars and lived in a mansion and had the lifestyle.
2. The family who managed to turn a £27,000 mortgage debt into £147,000 then off they trotted to a council house at taxpayers expense.
3. The bimbo model with a shopaholic problem, £41,000 in the red and £1700 a month overspending.
Crazy.

Austin_Allegro

I don't think anybody is laughing at or judging those who have got into financial difficulties over things that they had no control over (illness etc).

It's just that most of us have run out of patience with people who treat luxuries like necessities and think that they are entitled to a higher standard of living than their income allows. It's not stupidity, it's just greed.

What saddens me is the amount of emotional investment people make in a pile of bricks, to the extent of killing themselves if their house is repossessed. In the old days, people 'flitted' all the time and didn't bother too much about their houses, mainly because they couldn't afford to but also because they had other things to do.

They spent their free time with friends and family in the pub, on the allotment, at the pictures, at church socials etc. They didn't have to spend all their time sitting in their cars (bought on credit) in traffic jams trying to get to DFS to buy new sofas (on credit) in order to sit in their overpriced laminate 'lounges' (on a huge mortgage) watching their plasma tellies (on credit) with big glasses of wine (on credit). :mad:

nelly_2

The thing is these people are making life worse for everyone.

Clueless people borrow 100 grand get repoed and the banks lose half their money so they push interest rates up to claw it back

Who suffers the higher rates? not the morons who over stretched! cos they are now in a councill house its the rest of us that suffer their stupidity.

Some people say its the banks fault for lending it in the first place, but thats the same as someone leaving their keys in the ignition and having their car nicked......its the theif thats wrong not the car owner even if they were a bit careless..........and carless

Pobby

Seen it all in my own family.
!8 year old with 24k of debt.I repeat,£24,000 of debt once the interest payments are made.Yep you guessed it,a car.So I guess in 4 years time he will have a motor worth at best 5 grand.

Another one on a good income,so far this year has had 2 holiday breaks abroad and complained about lack of spending money.Also the never ending moaning that they can`t afford to leave home!

jamescredmond

hell's bells. 24k? at 18? for a car?
the most I spent on a motor was £6k. and then I blubbed.

and I'm not skint (or mean) and I'm the wrong side of 40!!!

sounds to me like you should give them A DAMN GOOD THRASHING (don't you know).

you're not alone. chap I know has a son who refuses to wear boxers/socks unless they're genuine armani!!! £40 and £25 respectively. and he's 19!!!

Pobby

jamescredmond wrote: »

hell's bells. 24k? at 18? for a car?
the most I spent on a motor was £6k. and then I blubbed.

and I'm not skint (or mean) and I'm the wrong side of 40!!!

sounds to me like you should give them A DAMN GOOD THRASHING (don't you know).

you're not alone. chap I know has a son who refuses to wear boxers/socks unless they're genuine armani!!! £40 and £25 respectively. and he's 19!!!

I kid you not.I am the God father of said lad and his parents asked me to talk to him in view of putting him off.Clearly my efforts were of no avail.

Coronation Street,sponsered by Cadburys Credit Crunch----The Nations favorite.

jamescredmond

Austin_Allegro wrote: »

I don't think anybody is laughing at or judging those who have got into financial difficulties over things that they had no control over (illness etc).

It's just that most of us have run out of patience with people who treat luxuries like necessities and think that they are entitled to a higher standard of living than their income allows. It's not stupidity, it's just greed.

What saddens me is the amount of emotional investment people make in a pile of bricks, to the extent of killing themselves if their house is repossessed. In the old days, people 'flitted' all the time and didn't bother too much about their houses, mainly because they couldn't afford to but also because they had other things to do.

They spent their free time with friends and family in the pub, on the allotment, at the pictures, at church socials etc. They didn't have to spend all their time sitting in their cars (bought on credit) in traffic jams trying to get to DFS to buy new sofas (on credit) in order to sit in their overpriced laminate 'lounges' (on a huge mortgage) watching their plasma tellies (on credit) with big glasses of wine (on credit). :mad:

quality post.

I'm (just ) of the age when I can remember old people who looked apon debt as equal to 'sin'. something not to be done. pay the rent first. always.
and the 20- something generation yawn at the idea of simple budgeting...

back then, the mortgage market was small. people rented. they had smaller expectations. they seemed happier for it. most didn't do debt. they looked after the roof and put food on the table. anything left over was considered
'disposable income' ( but,of course,they didn't call it that).

ah well. that's progress..

jamescredmond

Pobby wrote: »

I kid you not.I am the God father of said lad and his parents asked me to talk to him in view of putting him off.Clearly my efforts were of no avail.

Coronation Street,sponsered by Cadburys Credit Crunch----The Nations favorite.

well done for trying.
let him get on with it.
oh, and tell me when he knocks your door looking for money because he's in 'trouble'...............

Doozergirl

Is there a link for the program? The choice between this and Gordon Ramsay wasn't hard on Wednesday but I wanna see it now

jamescredmond

um.... wrong thread?