NR 24 million borrowing and creditcard debt

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sonyse2t5

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Post by sonyse2t5 » Fri Nov 02, 2007 10:57 am
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In the news yeaterday it was said 24 Billion have been taken up by NR from the treasury-thats equates to £700 contributed by each person - adult I assume. 2% of GNP

If there are 54 billion creditcard debt confirmed by the BBA, with 75% incurring interest, each person on average can own more than £950.

It only takes £750 to go BR!
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s.b.w

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Post by s.b.w » Fri Nov 02, 2007 1:23 pm
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Must say I agree with you totally!

As someone who got caught in the trap of credit cards and consolidation loans I am extremely worried about the way these items are still freely advertised and offered to people.

Why oh why are store cards offered to people continually at the counter when paying for something? And... when you say no, they then add the sweetner "you can get 10% on anything you buy today"!

WHY is this allowed?

It scares the death out of me how easy it was for me to acquire debt and then the dubious means that financial institutions used to get me into more debt!

Arghhhhh!!!!!!!!!
If only I'd said NO!

Go to my blog at:

http://shazzy.blogs.iva.co.uk/
Arghhhhh!!!!!!!!!
If only I'd said NO!

Go to my blog at:

http://shazzy.blogs.iva.co.uk/
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sonyse2t5

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Post by sonyse2t5 » Fri Nov 02, 2007 2:42 pm
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Thanks shazzy,

There are other poster here who don't believe there is a debt problem as the % of debt to wealth is low. That angers me!!

It is these attitudes that have lead to the state of young people in debt as we are and the vicious circle goes on and on for them too.Then BR or IVA - 5 years of slavery spending -some don't make it.

CC usage addictions and paying interest till the next life is like alcohol, drugs and violent behaviour. A vicious circle that knows no end till you self destruct! It needs to be curbed.
Last edited by sonyse2t5 on Fri Nov 02, 2007 2:44 pm, edited 1 time in total.
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ray_a

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Post by ray_a » Fri Nov 02, 2007 2:54 pm
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Mind you!

I do enjoy telling these people no thanks and then lecture them about those cards should have financial health warnings!

Something on the grounds that Credit Cards can damage your finances, health, and destroy your life! They can also cause you to die early!
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s.b.w

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Post by s.b.w » Fri Nov 02, 2007 3:46 pm
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I'm the same... and I scream at the top of my voice sometimes when they keep going on that "I'm in an IVA mate...... so please stop asking me if I want your card".

I have actually got so fed up a few years back that I had the assistant there for ages doing an application and, of course, it was rejected. After all that I just said I thought it would be, I'm in so much debt already!

You should have seen the look on her face!

Arghhhhh!!!!!!!!!
If only I'd said NO!

Go to my blog at:

http://shazzy.blogs.iva.co.uk/
Arghhhhh!!!!!!!!!
If only I'd said NO!

Go to my blog at:

http://shazzy.blogs.iva.co.uk/
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