Shove your loans where the sun don't shine

Diane · Shove your loans where the sun don't shine

Honestly is it any wonder people in this country are getting into great debt? Every week now since Christmas I have had nothing but loan offers through the door, whilst I'm not tempted and throw them away, I am sure that after the Christmas spend people do get encouraged to take them out (which is why these letters are so successful).

I really do think there should be a law restricting the advertising of loans and credit cards especially at this time of year when people are feeling down and think about booking holidays.

I keep seeing people on the TV who have run up enormous debts and then get in a whole load of trouble, I am confused as to why they get in these messes but the loan/credit card providers have to take some responsibility. One woman had about 15 credit cards on a table and said about each one, "I have 5k on that, 3k on that 8k on that and so on, wtf I would never sleep again if that was me.

Lou Cipher

It is incredibly easy to rack up huge debts now. I find it amazing how that woman was able to amass 15 credit cards, it just shows that either the checks that these companies carry out are rubbish or that she's lied on the application forms.

I would say that 99% of the junk mail I get are either from credit card or loan companies. My shredder is working overtime coping with it all.

Marcucas

It is a poss take it seems some people especially younger women seem to have a real problem spending money on frivvelous items they dont need.

Problem stems from their upbringing i bet most of them were used to getting what they wanted and never learned the art of srimping and scraping for the luxuries so spend like theirs no tomorrow.

I think its the shoes habit that gets many women.

Diane

^ I worked with a bloke in his early twenties in my old job and his girlfriend was just like that Mike, she filled one credit card up and then got a new one, he said she just didn't get that it was a debt to spend on them, she just saw that she has 3k to spend on whatever she wanted.

I can honestly say I have never been like that in my life, if I can't afford it, I don't have it, its that simple!

Also going back to the woman with numerous credit cards, she said she even bought things she didn't need, she just enjoyed spending, I would say that is an illness and needs help to be honest!

cosmicrichie

I've always been very good with money. I've very rarely been in debt and when I have it was at most a tenner or something that I owed a parent or a friend so I could buy something in store and then draw money out to repay them. I've always paid back what I owe at the worst the next day.

However now I am a student I am in tons of debt! I'm the same as you Di, if it's too expensive I won't get it. I'm not one of these people that needs the latest mp3 player or games console, so usually at birthdays and christmas I just get money because there's nothing I want....helps stay out of debt!

Diane

^ Most people have debt of some sort, ie mortgage and i know students very often go into debt to fund their education but that is an investment for the future. These people who get credit cards just to buy wardrobes full of clothes they don't need and holidays etc need to sit down and take stock. I think that a lot of them just ignore how much debt they are going into thinking it will go away!

cosmicrichie

Yeah, it is stupid. I just don't like being in debt in general. I don't like using my credit card knowing that in a while a big lump sum will come up. I just like getting it all out of the way.

jonnysmig

The debts I have are:

-student loan (only about 15 months to go now!
-mortgage
-car loan (shared with wife)

I only use my credit card to buy big items to get the loyalty points or pre-book something before I've collected all of the cash for it (eg Center Parcs booking). I always clear it.

Some people I know are in it to their eyeballs - if interest rates go up a bit more, when their fixed rate mortgage ends they're in for it!

But to the title of the thread - I hate all of the bunf sent through the post - be kinder to the planet and stop sendign me the stuff - I don't even read passed what it is about - it just goes straight into the recycle bin. I'm also unsure on the uptake or direct marketing, a credit card with 24.9% APR - whoever gets it needs their brain testing!

Super

I think that applications for loans, overdrafts credit cards etc need a huge overhaul. It is all to easy to get into debt these days.