Charmless Man
Striker
The war that couldn’t have been fought or won without a significant amount of debt being accrued?
Is it time to bring back debtors prisons?
- Thread starter Big Sharp Teeth
- Start date
The war that couldn’t have been fought or won without a significant amount of debt being accrued?
Yeh I'll just save for 30 years to have something nice. Nowt wrong at all getting credit if you can afford to pay back. Big difference getting tick you can't afford to repay. Been that way for generations
Butcher's Coat
Striker
HABA87
Striker
Wages stagnating and inflation continuing to go up doesn't help mind.
My parents bought their house in the late 60's and by the time they entered the 80's what they paid for it just over 10 years earlier was about a couple of months take home.
I'm about the same length of time into mine and my wages have barely moved.
Jobs were generally local in the 70s, cars were often a luxury then and now they're pretty much essential.
Even an old banger needs fuel, maintenance and insurance.
Final salary pension schemes and huge lumpers that are as rare as hens teeth now were available across many occupations 30-40 years ago. A guaranteed income for life for many back then.
It's often not credit for the sake of credit.
My parents bought their house in the late 60's and by the time they entered the 80's what they paid for it just over 10 years earlier was about a couple of months take home.
I'm about the same length of time into mine and my wages have barely moved.
Jobs were generally local in the 70s, cars were often a luxury then and now they're pretty much essential.
Even an old banger needs fuel, maintenance and insurance.
Final salary pension schemes and huge lumpers that are as rare as hens teeth now were available across many occupations 30-40 years ago. A guaranteed income for life for many back then.
It's often not credit for the sake of credit.
I found their article "How did Apple get away with it for so long ?" an interesting read.
I look forward to the article "How did QuickLoans get away with it for so long ?".
citybythesea
Winger
People who make a living from other people's debt should be the ones under scrutiny. Unscrupulous lenders are happy to make money on irresponsible lending that cripples people's finances. Often the people they target are on a never ending spiral of debt. People need to take responsibility for themselves too. Awareness of debt and the pitfalls should be compulsory in schools, that way creditors would go out of business like wonga.
Black Cat Gypsy
Striker
I got a Provy loan before and I'll never do it again. It was only for €1000 but the interest rates made it about €1500! I missed 2 weeks repayment and you'd swear I owed millions. When I got towards the end of my loan I got letters and emails about how good my credit and repayments were and how I was entitled to a loan of up to €5000. They aren't even the worse of them. Some of are just legal money lenders.
Charmless Man
Striker
So we have to expect every young’un who wants to get started in a trade or set up their own business to have the cash lying round for tools, equipment and a van? Or their parents to be comfortable enough to help them out? One of my best mates wouldn’t have been able to set up a brewery in his mid 20s if it hadn’t been for a loan from the bank for equipment and a van to deliver beer with.
Give over man. Debt isn’t necessarily a bad thing.
Yankee Mackem
Striker
If theyd been privatized and available right from the start, Wonga would have had a canny dual business going on.
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Chunk Love Sloth
Central Defender
What about people who think they have a steady job and for what ever reason end up unemployed, should they then be thrown in to jail because of shit circumstances
b1gals
Striker
The only debt allowed should be a mortgage, a van and some tools. If you can't afford something, save up.
Horatio Pugwash
Striker
pensi
ns.....GREAT!!!
Alan BStard
Striker
This
The Fitter
Winger
Financial "watchdog" my saintly arse
Captain Slackbladder
Winger
The factors dictating how much credit someone can have should be better regulated. Ridiculous that someone unemployed on benefits or earning very little can get vast amounts of chuckie via payday type loans or the latest TV via pay weekly at 40% plus APR.
Horatio Pugwash
Striker
I was in Ramsdens (?) a year or so ago getting my holiday money changed and saw a slip of paper on the side. Some poor fcker had borrowed £100 over a year
How desperate would you have to be ffs!
the dark one
Winger
Poll tax? As in council tax. Used to be called Rates. It's always been there.
42
Striker
Come on!!!
There's a relation between house prices, interest rates & repayments. Houses were cheaper in the 70's cos interest rates were sky high.
The mini back then was a completely different car to now. You're comparing basic v luxury.
How much did a TV back then compare to now? In fact any electrical goods?
Debt isnt a bad thing if its manageable.
Most cant afford a brand new car outright either.
If you had you're way i'd actually be financially worse off.
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