Surely a maximum limit on unsecured lending(could use existing credit reference agencies)would be a good way forward. 3 times annual salary or something. That said no doubt some companies would pop up offering money without following any new guidelines.
Discharged today the 8th feb 2012. View is much brighter now.
Continuing to rebuild our credit worthiness.
That won't happen unfortunately. There are people that seriously struggle with just a couple of grand or so of debt, and others that have no problem in servicing 100k plus. It is all about affordability in the end.
Regards.
Cert DR
23+ years in debt advice
I do not post for anyone other than myself
I think we will have to work hard to save money for things after our trust deed is done,we have always tended to spend what we have(or didnt have which was the case!!)
We do intend to pay the amount we are into the TD for 3 months then go out and buy a new 3 pc suite and probably try and do the same to pay for a new kitchen. Its amazing to think that we could actually save some money up because we never seem to have had enough to save before!!
Discharged today the 8th feb 2012. View is much brighter now.
Continuing to rebuild our credit worthiness.
I fully intend to put an equivalent sum to the IVA payments away as soon as we have finished it. It will soon mount up, and as our secured loan also finishs later that same year, we should be quids in.
Sharing from experiences of dealing with debt
The greatness of a man is not in how much wealth he acquires, but in his integrity and his ability to affect those around him positively.
Bob Marley. http://kallis3.blogs.iva.co.uk
Maybe personal finances/financial management should be part of the school curriculum, so that children don't make that same mistakes or crass financial decisions that we have.
