Quote: zooo @ December 6 2011, 3:27 PM GMTOr had the bare faced cheek to want to go to university.
Her post mentioned an accidental overdraft, not a student loan.
Strikes and such like Page 4
Quote: DaButt @ December 6 2011, 3:26 PM GMTI'm fairly certain that you're in debt because you spent more money that you possessed.
Ooh bitchy.
Also duh, that's what all debt is.
Lots of companies make alotta money because people make foolish decisions when they are young or when their income is poor.
Of course DaButt neither you nor anyone you care about has ever made a mistake. And you can look forward to spending Christmas eve hiding behind your sofa with a gun waiting to blow those 3 ghosts back to hell.
Quote: Nat Wicks @ December 6 2011, 2:55 PM GMTIt's part greed and part naivety, and part dangerous financial marketing.
I quite agree..
It's 50% greed, 50% naïvety.. and the rest is those avaricious banking "clever" sods..
The way that credit is sold is crazy. Almost every purchase you make on he highstreet, you will have to turn down te cashier trying to flog you a card! For someone who doesn't understand concequences, that sort of easy immediate access is dangerous!
Quote: Nat Wicks @ December 6 2011, 4:06 PM GMTFor someone who doesn't understand consequences, that sort of easy immediate access is dangerous!
Too true.. it's like heroin, isn't it..?
Quote: Nat Wicks @ December 6 2011, 4:06 PM GMTThe way that credit is sold is crazy. Almost every purchase you make on he highstreet, you will have to turn down te cashier trying to flog you a card! For someone who doesn't understand concequences, that sort of easy immediate access is dangerous!
Yup the pressure power is quite awsome.
Forutnately I don't have any friends so I am hard to influence.
There's something horrid about the number of people in their 20s-30s with serious debts and no pensions.
Quote: sootyj @ December 6 2011, 4:24 PM GMTThere's something horrid about the number of people in their 20s-30s with serious debts and no pensions.
I quite agree. Sod those over-40s in the same position.
I am one of millions. I'm just glad my debts aren't too serious. With careful planning and repayment (and thank God, some help from my long suffering parents) it can be gone completely within two years. I to think of myself now as quite savvy and well informed now, but 18 year old me is a different story.
I'm not really sure how we got onto this. I think I've just hijacked the tread to give everyone my financial history.
You forgot to post your PIN.
Quote: sootyj @ December 6 2011, 3:54 PM GMTLots of companies make alotta money because people make foolish decisions when they are young or when their income is poor.
Of course DaButt neither you nor anyone you care about has ever made a mistake.
Let's face it: who is responsible if an adult makes a foolish decision? The adult, of course, provided he/she has fully functioning mental faculties. If a 20-year-old applies for a credit card with a ridiculous interest rate so that he/she can buy a 55" television and a shiny new smartphone then he/she will (and should) pay the price down the road. We aren't raising a generation of idiots, are we?
I racked up a few grand in student loans and credit card debt while I was a student and single parent in the 90s. I later paid it all back, with the appropriate interest, because that's what I promised to do when I signed on the dotted line.
It's good to know that there are better human beings than I.
Quote: Nat Wicks @ December 6 2011, 6:23 PM GMTIt's good to know that there are better human beings than I.
Spare me, I'm not picking on you. You admitted that you're in this position because of mistakes you made; don't try to shift the blame to the banks. It's a learning experience and part of growing up; we've all been there.
The true sign of maturity is when you can admit mistakes and take responsibility for them. It took my daughter until she was 25 years of age before she admitted that she'd been stupid and reckless by getting into debt because she wanted "new" teeth and a sporty car when she was 20. Her grandparents and I tried to talk her out of it but her greed/stubbornness won out in the end. Now she's married and repairing her credit rating by paying back the debt. Most importantly, she only blames herself and has learned a lesson about living beyond her means.
Quote: DaButt @ December 6 2011, 6:39 PM GMTSpare me, I'm not picking on you. You admitted that you're in this position because of mistakes you made; don't try to shift the blame to the banks.
Presumably so long as the customers are adults you also regard pushing heroin as a legitimate business model?
Huh?
Quote: DaButt @ December 6 2011, 6:39 PM GMTSpare me, I'm not picking on you. You admitted that you're in this position because of mistakes you made; don't try to shift the blame to the banks. It's a learning experience and part of growing up; we've all been there.
The true sign of maturity is when you can admit mistakes and take responsibility for them. It took my daughter until she was 25 years of age before she admitted that she'd been stupid and reckless by getting into debt because she wanted "new" teeth and a sporty car when she was 20. Her grandparents and I tried to talk her out of it but her greed/stubbornness won out in the end. Now she's married and repairing her credit rating by paying back the debt. Most importantly, she only blames herself and has learned a lesson about living beyond her means.
Any fair society works by how it treats the ordinary, not the exceptional. Up until 30-40 years ago British personal debt was tiny, actually quite harmful to the economy. We were a nation of savers.
So why did that stop? The shops, the banks started pushing and promoting debts and succeded. Same as McDonalds did with their shitty food and alcopops companies. Basically there's a reason these guys spend hundreds of millions on advertising...it works.
What ever the product it works. In this case passing on a debt funded lifestyle to those who can't afford it. It actually takes and please note the word ABNORMALLY strong resilience to not sucumb. If you're a student to be the one person in old clothes not going out, or if you're a poor family the only one not giving nice presents at Christmas.
I feel sorry for the situation your daughter got herself into and very happy she got out of it. But I also feel angry she got into it in the first place.