what credit crunch?

[Mesterh]

:confused1:Why?????????

 

I don't find it hard, I just think do I want to have some money now and have to pay back MORE later, eeeeeeeeeerrrrrrrrrrr NO!!!!!!!!!!!!!!!!!!!!

 

I only borrow money to buy an asset, something that I need and will make me money, and can be sold if need be too pay back the loan.

 

People who borrow money for every day things and holidays, any thing that gone before you've finished paying back the loan, are, IMO, plain stupid

 

Ok I should change it to I bet a lot of people find it hard.

[skyhuck]

Ok I should change it to I bet a lot of people find it hard.

 

Clearly!!!!!!!

 

And, IMO, they are stupid

[TimberCutterDartmoor]

totally agree. i got myself into trouble that way when i was younger and its set me back best part of 10 years

 

Precisely...

[Mr Ed]

Actually, I think its wrong to blame people for borrowing. The Banks are the ones offering this cash, they are the ones who are to blame - if they lend it to someone who canno afford to repay them, who's fualt is it? the borrower or the lender? If they were'nt getting bailed out by the taxpayer, do you think they would be quite as keen to lend in unsuitable areas?

 

IMO, the banks track record is like someone who bets on horses and cries into their milk when they loose. They deserve to crash and burn.

 

If our government had an ounce of sense or backbone, they would have instructed the banks - 'OK, we'll bail you out, but NO repossesions, and no further crap finance to people who cant afford it'.

[Mesterh]

Well both parties are to blame.

Cba atm to go into detail but both the borrowers and lendender need to take the stick.

 

 

In the words of some band "If I hadn’t seen such riches

I could live with being poor"

 

Take responsibility people if you don't have that then you don't have anything.

[skyhuck]

Actually, I think its wrong to blame people for borrowing. The Banks are the ones offering this cash, they are the ones who are to blame - if they lend it to someone who canno afford to repay them, who's fualt is it? the borrower or the lender? If they were'nt getting bailed out by the taxpayer, do you think they would be quite as keen to lend in unsuitable areas?

 

IMO, the banks track record is like someone who bets on horses and cries into their milk when they loose. They deserve to crash and burn.

 

If our government had an ounce of sense or backbone, they would have instructed the banks - 'OK, we'll bail you out, but NO repossessions, and no further crap finance to people who cant afford it'.

 

Yes the banks should take some responsibility, BUT so should the borrower.

 

I don't want to have a load of crap too go though if I want to borrow, I WHAT it to be MY responsibility, I have never not paid something I owe.

 

Maybe IQ tests for borrowers would be the way forward!!!

 

I think to liken it to betting, is a little simplistic. Unsecured loans, are just that "unsecured" and you pay more interest as a result and they know it may be hard to get it back if you default.

 

BUT a mortgage is in reality is just a form of "rental purchase" when you sign up you know if you don't pay you loose the house. Its simple.

 

Why no repossessions

 

So what just give people houses??????????

 

If people are not held responsible for their stupid, irresponsible borrowing, they why don't we all go out and spend OTHER PEOPLES MONEY???!!!!

 

I have very little pity for people who have lived beyond their means and borrowed to do so.

 

The banker should be held PERSONALLY responsible, and their personal assets taken IF it can be shown that the when bought with money made at the expense of others.

 

The PM has a great deal of responsibility for all this, for telling us that he had stopped "boom and bust" at the hight of the biggest "boom" we have ever seen!!!!!!!!

[jamesw]

wish i had your problems of being offered money! i have the opposite! i have a good track record with the bank and i wanted to by an asset:they would lend me the money however at 28%

 

Don't need the asset that much think i will save for it!

[Stephen Blair]

wish i had your problems of being offered money! i have the opposite! i have a good track record with the bank and i wanted to by an asset:they would lend me the money however at 28%

 

Don't need the asset that much think i will save for it!

 

spoke to a guy i know last night, he bought a 140k house 10years ago, his mortgage was about 80k. 4 years ago the house was valued at over 450k.

that was the last time i spoke to him, since then he sold a plot in the back garden for 110k spent all of it, remortgaged the house. his mortgage is now 360k and he has run up 70k on credit cards. we had seen all the new cars and holidays he was having and just thought he was doing well for himself:scared1:

[Mesterh]

I remember thinking about 5 years ago that everyone except me had a new car and where was all the money coming from!

 

It would seem that I am paying towards all of this now since Mr Brown has decided to use some of my hard earned to bail out the banks and pay off bad debts.

 

Sucks!

[The Tree Hunter]

It's a hard one not to comment on really...... the banks have to take a huge portion of responsibilty for the mess they've got themselves into, when you hear some of the lending they've done, like billions of pounds to foreign companies and then got burnt!!! Its ridiculous that we have to pay for those mistakes....... was it not worked out at £30000 per person extra taxes, that we have to pay for it???...... the government aint stupid (on all counts at least) they'll be benefiting from the bail out, or they wouldn't do it. Imagine if Barclays went into crisis and the government said tough ****, you'll have to fold, what happens to all the money people owe them, loans, overdrafts, mortgages...etc etc??? By the government stepping in is just the same principal as bad debts being sold on for less, then the new company adding their cut on top of it and so it goes on.......the government is just looking at the bigger picture, they'll have a contract with the people they're bailing out so it creates them revenue, if they weren't going to make money out of it, it'd be a no show for all the banks.......... One example of how much they can see they'll make is clear from their statement to the banks.......'tell us now how much trouble you're in and we'll bail you out'.......... not an exact quote, but along the general lines!!!!

 

As said already, they need to start lending again to get us out the ****, but they need to do alot more before they do that!!!!