Payday and doorstep lenders

[Yorkshire Blue]

Hmm, maybe if there was a bit more of that and Reagan/Thatcher were told to bugger off back in the early 80s the world economic climate may be a bit more healthy.

Get back in your cave!

 

[Dave Dave]

Why should the government be forced to bail people out who are living beyond their means? Whatever happened to taking some responsibility for your own actions. I'm sure the 'poor' who use these services all have plasma televisions and i-phones.

 

[MK Shrimper]

Why should the government be forced to bail people out who are living beyond their means? Whatever happened to taking some responsibility for your own actions. I'm sure the 'poor' who use these services all have plasma televisions and i-phones.

And why should the IMF bail out the UK PLC? Borrowing went up to £8.6Bn. One rule for one.....

 

[Dave Dave]

And why should the IMF bail out the UK PLC? Borrowing went up to £8.6Bn. One rule for one.....

I don't believe they should. And if the UK government wasn't wasting its money on handouts to loafers, it wouldn't have to borrow from the Chinese politburo or Russian oil oligarchs.

 

[steveo]

Good points by South bank Hank & Barnablue: I don't know how the EU gets away with charging huge interest rates to Greece; to help Greece should they not try to keep the rate as low as possible?

Then you would be encouraging a country that spends recklessly and isn't interested in putting its house in order.

 

[steveo]

My cousin was a collector for one of these sort of firms. He said people would borrow money and not know, or not even want to know, the rate of interest they were paying.

Same old same old. If everyone lived by the principle of if you cant afford it don't buy it they would all be better off.

 

[steveo]

Hmm, maybe if there was a bit more of that and Reagan/Thatcher were told to bugger off back in the early 80s the world economic climate may be a bit more healthy.

And we would be living under Arthur Scargill rule. And you would probably be on strike because a manager might have said good morning to someone in an abrupt or rude fashion. And Barna would be on the picket line sticking up for his brothers rights.
Thank **** for Maggie.

 

[South Bank Hank]

Why should the government be forced to bail people out who are living beyond their means? Whatever happened to taking some responsibility for your own actions. I'm sure the 'poor' who use these services all have plasma televisions and i-phones.

Not sure anyone's asked for the government to bail anyone out? Correct me if I'm wrong.

 

[Yorkshire Blue]

And we would be living under Arthur Scargill rule. And you would probably be on strike because a manager might have said good morning to someone in an abrupt or rude fashion. And Barna would be on the picket line sticking up for his brothers rights.
Thank **** for Maggie.

And **** for Gordon's regulation, because that proved so successful at preventing meltdown.

 

[Dave Dave]

Not sure anyone's asked for the government to bail anyone out? Correct me if I'm wrong.

I believe that applelover wanted the government to step in to help those who had taken out loans which they couldn't afford to repay. Correct me if I'm wrong.

 

[South Bank Hank]

I believe that applelover wanted the government to step in to help those who had taken out loans which they couldn't afford to repay. Correct me if I'm wrong.

All I can see is him warning people not to take such loans and ranting about the apologist mp who seems to condone them, nowhere asking for a bailout? And good on him.

Anyway, he can tell us we're both wrong. It's the Internet and being wrong is a badge of honour to wear with pride.

Welcome to the Zone dude.

 

[DTS]

One thing I would add is that APR is hardly worth the effort of working it out. Clearly these companys are out to make there money but at the end of the day the provide a service. If someone is stupid enough to take out a loan they cannot afford then I have little sympathy.

 

[united we stand]

One thing I would add is that APR is hardly worth the effort of working it out. Clearly these companys are out to make there money but at the end of the day the provide a service. If someone is stupid enough to take out a loan they cannot afford then I have little sympathy.

Dave , I know this is taking you out of context, but it did make me smile when I read your first sentence and then your signature:smile:

 

[callan]

no reason why these people can't use credit unions should they need short term cash coverage...there are options on lenders for poor credit customers at affordable rates...you just need to be able to source them.

 

[applelover]

I believe that applelover wanted the government to step in to help those who had taken out loans which they couldn't afford to repay. Correct me if I'm wrong.

You are wrong. You have been corrected.

I do think that this sort of lending should be banned. Alternatives, such as credit unions, need to be readily available so that people who need money can borrow it at a decent rate.

I also cannot understand how a Liberal Democrat MP can go on the premier current affairs show on TV and defend these companies. I know that ethics and politics don't always go hand in hand but at a strategic level that performance was madness. This is a politician who has campaigned against confectionery marketing and yet sits there defending high interest lenders.

 

[steveo]

But they have a right to do what they are doing. Unfortunately some people are stupid enough to use them.

 

[Dave Dave]

You are wrong. You have been corrected.

I do think that this sort of lending should be banned. Alternatives, such as credit unions, need to be readily available so that people who need money can borrow it at a decent rate.

I also cannot understand how a Liberal Democrat MP can go on the premier current affairs show on TV and defend these companies. I know that ethics and politics don't always go hand in hand but at a strategic level that performance was madness. This is a politician who has campaigned against confectionery marketing and yet sits there defending high interest lenders.

People who need money should work for it. We also need to live within our means, both as a country and as individuals.

 

[Earls Hall Blue]

Save up, get a job, work for what you want, all got plasma's & iphones, lots of cliches & generalisations being used in this thread. Sure there are people that are using this as easy money to get the latest gadget thats turned their heads, but there are also people using these lenders to make ends meet.

I dont know how many people posting in this thread have tried to get a job recently, but I've been helping my 19 y/o daughter look for work & it's pretty grim out there, far worse than I thought. So a guy trying to feed the family may well take these loans, another needing coats & shoes for the winter also may be tempted simply because it's the only option open to them.

Credit unions are great but my understanding of them is to borrow you need to show some regular savings first & saving is usually the last thing anyone looking at one of these loans can do. Also it's not going to work for you if the money is needed quickly.

Now while I'll accept that there are people getting in the brown stuff with these lenders just to have the latest toys & for them I have no sympathy, there are a lot of vulnerable people being ripped off by these firms.

You only needed to watch the Panorama a month or so ago on these lenders to see that they are morally bankrupt & some of the doorstep collectors that worked for them, well I wouldn't **** on them if they were on fire.

 

[Dave Dave]

Save up, get a job, work for what you want, all got plasma's & iphones, lots of cliches & generalisations being used in this thread. Sure there are people that are using this as easy money to get the latest gadget thats turned their heads, but there are also people using these lenders to make ends meet.

I dont know how many people posting in this thread have tried to get a job recently, but I've been helping my 19 y/o daughter look for work & it's pretty grim out there, far worse than I thought. So a guy trying to feed the family may well take these loans, another needing coats & shoes for the winter also may be tempted simply because it's the only option open to them.

Credit unions are great but my understanding of them is to borrow you need to show some regular savings first & saving is usually the last thing anyone looking at one of these loans can do. Also it's not going to work for you if the money is needed quickly.

Now while I'll accept that there are people getting in the brown stuff with these lenders just to have the latest toys & for them I have no sympathy, there are a lot of vulnerable people being ripped off by these firms.

You only needed to watch the Panorama a month or so ago on these lenders to see that they are morally bankrupt & some of the doorstep collectors that worked for them, well I wouldn't **** on them if they were on fire.

Two questions:

Is your daughter willing to work for minimum wage?

Does she own an i-phone/android?

 

[applelover]

Two questions:

Is your daughter willing to work for minimum wage?

Does she own an i-phone/android?

It's appears we have a 'Rusty Shackleton' wannabe on our hands. I prefer the original :)

On a serious note are you suggesting that people shouldn't borrow money full stop? People and businesses have to borrow money sometimes. This is the case whether you are a jobseeker whose fridge breaks or a large business looking to expand.