Credit

[Kirkatronics]

Good way to fake your death and evade debt it has shown.

If your missing for 9 or 5, i forget how many, years - your assumed dead and your debt is wiped :p

Just dont come back. (This may be un-true, but its nice to dream =])

[Aimless]

It frustrates me when Banks, Bailiffs,and other lenders are made out to be the bad guys when all it would take it a 'No' earlier on. Did they really need that stuff they bought?

Well, you could use the same defence for drug dealers. And no, I'm not directly comparing the two, simply drawing a parallel.

 

I'm not in any debt, but then I've done very little with my life; you get what you pay for, as it were. If I eventually go to university then naturally I'd have to take out a student loan, but otherwise I don't want to go anywhere near money lenders of any kind.

 

Games are my only real money-draining vice, and my only real outgoings are on diesel and the meager rent that I pay my parents — £120 a month. I don't have much in the way of savings, but I've enough that if I really wanted to do something I'd most likely be able to afford it, even if it resulted in an empty bank account.

[Kirkatronics]

Not really' date=' I'd just pay off the loan with my savings.[/quote']

You seem to have the right balance on things, but wouldn't you prefer to kno all your money is yours?

 

Well, you could use the same defence for drug dealers. And no, I'm not directly comparing the two, simply drawing a parallel.

 

I'm not in any debt, but then I've done very little with my life; you get what you pay for, as it were. If I eventually go to university then naturally I'd have to take out a student loan, but otherwise I don't want to go anywhere near money lenders of any kind.

 

Games are my only real money-draining vice, and my only real outgoings are on diesel and the meager rent that I pay my parents — £120 a month. I don't have much in the way of savings, but I've enough that if I really wanted to do something I'd most likely be able to afford it, even if it resulted in an empty bank account.

Thats an addictive, and illegal substance. Completly different, although i do think its the addicts fault. If they said no then there would be no one to take advantage.

[Will]

Well my current situation I'm gaining money that isn't mine which is better. My situation is basically:

 

5k loan over 2 years costing about 400 pounds in interest.

4.5k in savings (that I couldn't access at the start of the loan period) gaining probably about 500 over the course of the two years.

 

The loan is now down to about 3.5k so I could pay it off and still have some savings but it actually works out better for me to keep the loan and all of my savings. If interest rate changes make it more worthwhile to pay off the loan then thats what I'll do.

[My Buttons are Magic!]

Do you have a car?

 

nope!

no rush to drive - i live close to everything so i walk everywhere!

[Aimless]

Thats an addictive, and illegal substance. Completly different, although i do think its the addicts fault. If they said no then there would be no one to take advantage.

It could be argued that credit is a narcotic of sorts... Anyway, my point — and I did specify that I wasn't comparing the two directly — is that suppliers cannot be dissolved of all blame if they're aware that the service they provide is not in the client's best interest.

[Fierce_LiNk]

It could be argued that credit is a narcotic of sorts... Anyway, my point — and I did specify that I wasn't comparing the two directly — is that suppliers cannot be dissolved of all blame if they're aware that the service they provide is not in the client's best interest.

 

The thing is, a lot of these people are actively going out looking for these cards or loans anyway. If companies were hard-selling their customers and tricking them into taking these things out, then it would be a whole different ball-game.

[Aimless]

The thing is, a lot of these people are actively going out looking for these cards or loans anyway. If companies were hard-selling their customers and tricking them into taking these things out, then it would be a whole different ball-game.

I'm not saying those that take out loans irresponsibly are blameless — far from it. However, just because someone is 'asking for it', as it were, doesn't mean credit companies can wash their hands of all responsibility.

 

The vast majority of the time it is the debtor's fault for getting themselves in a mess by over-borrowing, but the creditors — whose businesses can help many people, just so we're clear — are not absolved of all blame if they knowingly exacerbate the financial situations of others for their own profit. That's all I'm saying.

[Fierce_LiNk]

I'm not saying those that take out loans irresponsibly are blameless — far from it. However, just because someone is 'asking for it', as it were, doesn't mean credit companies can wash their hands of all responsibility.

 

The vast majority of the time it is the debtor's fault for getting themselves in a mess by over-borrowing, but the creditors — whose businesses can help many people, just so we're clear — are not absolved of all blame if they knowingly exacerbate the financial situations of others for their own profit. That's all I'm saying.

 

I agree with most of what you're saying, but I think its a bit too easy for people to cry "I've been molestered financially!" when they take out a loan they couldn't handle. From what I know, people are made aware of the rates they'll be paying, the exact figure they're borrowing, and the amount they're paying back each month. It's not an easy thing you can just do on a whim either, as there is form filling to be done, sending information to prove income in the post, etc. Now, you can tell a lender how much money you want to borrow, your circumstances, etc, but the person still has to actively go out and get the loan, and (more importantly) agree to it.

 

I think it's more of a case of people not thinking before acting. I agree, some businesses do take the piss, and will charge you for almost absolutely anything, including administration fees, broker fees, etc. But, the power is always with the consumer. You can say no up until the money is in your account.

 

I just think people need to think a lot longer and harder before agreeing to it. Look at Will' for example, he's analysed his situation and made an informed decision. If only more people would do that.

[jayseven]

The idea that i don't have to pay anything back until I'm earning some-sort-of-amount-of-money doesn't stop the fact that they'll be increasing the amount I owe them by 4.5% every year (calculated on a monthly basis, which is a cheeky way of basically saying it'll be way more than 5% each twelve months), which does suck.

 

I really just hate interest. It's vile and dishonest. makes me realise that we are at the mercy of banks. Fucking mortgages. Fucking insurance. it's just not right when an individual who used to complain about God and religion ends up complaining about their fellow man. Fuckin' politics! Fuckin' economics! to think mankind's been sentient and able to care for itself for centuries yet is still unable to actually help another individual without demanding something in return.

 

Seriously. Capitalism is NOT the long-term success story we think it is. Sigh. Fuck statistics. Fuck human rights. It's all lies.

 

... Yeah. Too many people in a society means too many factors, which just makes things harder and harder. We'll eventually either get rid of individualism or racism, who knows. [/generic rant about nothing in particular]

[Kirkatronics]

It could be argued that credit is a narcotic of sorts... Anyway, my point — and I did specify that I wasn't comparing the two directly — is that suppliers cannot be dissolved of all blame if they're aware that the service they provide is not in the client's best interest.

No it couldn't be argued that they are similer, unless the dealer says youcan pay later thenit ends up being more.

I'm not saying those that take out loans irresponsibly are blameless — far from it. However, just because someone is 'asking for it', as it were, doesn't mean credit companies can wash their hands of all responsibility.

 

The vast majority of the time it is the debtor's fault for getting themselves in a mess by over-borrowing, but the creditors — whose businesses can help many people, just so we're clear — are not absolved of all blame if they knowingly exacerbate the financial situations of others for their own profit. That's all I'm saying.

You'd think by now people would have heard something about credit cards by now, they are well in the known.. I know where your coming from when you say its the debtors fault too, but people know about them.

 

The idea that i don't have to pay anything back until I'm earning some-sort-of-amount-of-money doesn't stop the fact that they'll be increasing the amount I owe them by 4.5% every year (calculated on a monthly basis, which is a cheeky way of basically saying it'll be way more than 5% each twelve months), which does suck.

 

I really just hate interest. It's vile and dishonest. makes me realise that we are at the mercy of banks. Fucking mortgages. Fucking insurance. it's just not right when an individual who used to complain about God and religion ends up complaining about their fellow man. Fuckin' politics! Fuckin' economics! to think mankind's been sentient and able to care for itself for centuries yet is still unable to actually help another individual without demanding something in return.

 

Seriously. Capitalism is NOT the long-term success story we think it is. Sigh. Fuck statistics. Fuck human rights. It's all lies.

 

... Yeah. Too many people in a society means too many factors, which just makes things harder and harder. We'll eventually either get rid of individualism or racism, who knows. [/generic rant about nothing in particular]

With direct line i pay 0% interest on my payments, thats the reason i pay monthly.

[Shorty]

Some people don't seem to quite understand debit cards. There's no real risk with a debit card because it takes money from your account straight away. If there's no money to take, the transaction won't go through. You can't have 'interest' on a debit card because there's nothing to pay back, once you've paid the money is already gone, there's no bill or hidden catch...

 

credit cards on the other hand... well I'll go as long as I can without getting one. I remember once hearing that the head of Barclay's bank was quoted as saying he'd never ever get a credit card as it's the one of the worst financial decisions you can make.

[Kirkatronics]

Some people don't seem to quite understand debit cards. There's no real risk with a debit card because it takes money from your account straight away. If there's no money to take, the transaction won't go through. You can't have 'interest' on a debit card because there's nothing to pay back, once you've paid the money is already gone, there's no bill or hidden catch...

The only real problem is if you go into your overdraft, but you can be careful of that.

Some accounts charge you £20-50 if you over draw. Some will make it like a loan.

[Patch]

credit cards on the other hand... well I'll go as long as I can without getting one. I remember once hearing that the head of Barclay's bank was quoted as saying he'd never ever get a credit card as it's the one of the worst financial decisions you can make.

 

Interesting. I don't have a credit card and I never will. I cringe every time I see 'Buy Now, Pay Later'. This sort of mentality is all over the place as a Good Thing , which annoys me.

 

I was encouraged to save my pocket money as a child and I get far more satisfaction out of a purchase when I've saved up for it for a while. We need more 'Save Now, Buy Later'.

[Jon]

The only real problem is if you go into your overdraft, but you can be careful of that.

Some accounts charge you £20-50 if you over draw. Some will make it like a loan.

 

Not really, if you dont have an overdraft, the transaction wont go through. If you do have one then no problem it goes through, you obviously would stil pay the fee to have an overdraft. I think your refering to unauthorized overdrafts, where go beyond your overdraft and they start raping you with £30 charges. Bastards!!

[fex]

BUY NOW, BAILIFFS LATER

 

Brighthouse does my head in, the adverts which are shown around Trisha are terrible, lets boo an old phone, which works perfectly fine and replace it with a brand new swish phone.... which..... does the exact same thing and everyone cheers. Yes, lets congratuate the fools who get their self's into debt

 

Patch has got it spot on, save now, buy later.

 

Instead of lessons at school like PSD/PSE or college with General Studies they should teach you about managing money, loans, mortgages etc. instead the lessons are a waste of everyones time.

[Shorty]

Not really, if you dont have an overdraft, the transaction wont go through. If you do have one then no problem it goes through, you obviously would stil pay the fee to have an overdraft. I think your refering to unauthorized overdrafts, where go beyond your overdraft and they start raping you with £30 charges. Bastards!!

When it comes to an unplanned overdraft you gotta get it fixed asap or you start getting charged per day. With most banks if you sort it within 24 hours they let you off the hook the first time.

[Charlie]

I remember hearing about a law regarding not being paid by your work in time and if you incur any charges because of this your employer is liable... Does anyone know anything about this?

 

I've just got a bank charge because I went over my overdraft because I haven't been paid by work so it's not really my fault this has happened because my employer hasn't given me the money they owe me...

 

I sent them a letter by recorded delivery about a week ago now and haven't heard anything, thinking of sending another one but can't decide whether I should just go and talk to them or not.

[Kirkatronics]

Not really, if you dont have an overdraft, the transaction wont go through. If you do have one then no problem it goes through, you obviously would stil pay the fee to have an overdraft. I think your refering to unauthorized overdrafts, where go beyond your overdraft and they start raping you with £30 charges. Bastards!!

Thats what i meant,theyre there by default i believe.

 

BUY NOW, BAILIFFS LATER

 

Brighthouse does my head in, the adverts which are shown around Trisha are terrible, lets boo an old phone, which works perfectly fine and replace it with a brand new swish phone.... which..... does the exact same thing and everyone cheers. Yes, lets congratuate the fools who get their self's into debt

 

Patch has got it spot on, save now, buy later.

 

Instead of lessons at school like PSD/PSE or college with General Studies they should teach you about managing money, loans, mortgages etc. instead the lessons are a waste of everyones time.

We were taught money management, and similer things.

When it comes to an unplanned overdraft you gotta get it fixed asap or you start getting charged per day. With most banks if you sort it within 24 hours they let you off the hook the first time.

It can soon work up into a lot of money if you leave it too. Some people think they can leave it and get away with it.

I remember hearing about a law regarding not being paid by your work in time and if you incur any charges because of this your employer is liable... Does anyone know anything about this?

 

I've just got a bank charge because I went over my overdraft because I haven't been paid by work so it's not really my fault this has happened because my employer hasn't given me the money they owe me...

 

I sent them a letter by recorded delivery about a week ago now and haven't heard anything, thinking of sending another one but can't decide whether I should just go and talk to them or not.

Surely they would, its them fucking your bank over. Personallyid go talk to them.

[Raining_again]

Overdrafts (unauthorised ones) are on my bank account as default, as I found out to my horror, when I went 15p overdrawn. I got stung with a £30 charge.

 

I applied for a £50 o/d limit, but it is never used, suppose really just for absolute emergencies, so I don't get stung with another charge like that again.

 

As to using a debit card online, I never use mine. For security reasons more than anything. If someone hacks your credit card, THEY deal with it. All you have to do is fill in a form (this happened to me once) A lot of credit card companies have protection against people thiefing, and lock out cards.

 

If you lose ALL of your money from your account through your debit card, its an absolute nightmare to fix. My work colleague had fraudulent activity on her debit card last year, and she still hasn't got the money back.

 

Getting in debt is in everyone's control. Yes things are expensive these days, but everyone has to live within their means. But yes, I'll agree university debt is somewhat unavoidable if this is the career you chose.

 

And @ war, My parents saved money for me on a regular basis (despite being very poor during my dad's early raf days) and it never comes anywhere near a sum to pay of uni fees. I think I have around 3k in an account somewhere.

[Kirkatronics]

Overdrafts (unauthorised ones) are on my bank account as default, as I found out to my horror, when I went 15p overdrawn. I got stung with a £30 charge.

 

I applied for a £50 o/d limit, but it is never used, suppose really just for absolute emergencies, so I don't get stung with another charge like that again.

 

As to using a debit card online, I never use mine. For security reasons more than anything. If someone hacks your credit card, THEY deal with it. All you have to do is fill in a form (this happened to me once) A lot of credit card companies have protection against people thiefing, and lock out cards.

 

If you lose ALL of your money from your account through your debit card, its an absolute nightmare to fix. My work colleague had fraudulent activity on her debit card last year, and she still hasn't got the money back.

 

Getting in debt is in everyone's control. Yes things are expensive these days, but everyone has to live within their means. But yes, I'll agree university debt is somewhat unavoidable if this is the career you chose.

 

And @ war, My parents saved money for me on a regular basis (despite being very poor during my dad's early raf days) and it never comes anywhere near a sum to pay of uni fees. I think I have around 3k in an account somewhere.

 

I bet that 3K will help a lot though.

[Raining_again]

I bet that 3K will help a lot though.

 

I still have it and I don't intend to go to university.

[Kirkatronics]

I still have it and I don't intend to go to university.

What do you plan to do with your self?

[Raining_again]

On a personal level I'd love to be either a dermatologist (skin specialist) or a rhematologist (joint specialist). But that involves going to uni. Health and money issues stopping me tbh.

[Kirkatronics]

On a personal level I'd love to be either a dermatologist (skin specialist) or a rhematologist (joint specialist). But that involves going to uni. Health and money issues stopping me tbh.

Isnt there a learn as you work program? Like an apprenticeship sort of thing?