Quote: sootyj @ December 7 2011, 7:26 PM GMTSo Dabutt where can I buy these magic beans?
I'll send you an e-mail with the details. Don't be concerned when it is sent by the widow of a Nigerian prince because I am, in fact, the widow of a Nigerian prince.
Widow eh? Finally use for that herbal viagra the emperor of Ghana sold me.
For the record, I blame myself first and the financial market second. It started when I was 18 and it was farrr too easy to get a student overdraft and credit card, I wasn't anywhere near responsible enough and it just never occurred to me that the repayment might be difficult on a weekend job wage and student loan. Missed payments led to charges, charges led to less money, which lead to more fees, just compounding. Once I got into the working world a couple of years later, I could start repaying stuff. And I did a bit. Then my other half was out of work for around six months which meant that repayment went on the back burner while I tried to make my wage stretch to cover both of our normal living costs. By the. The damage was done, and due to my own stubbornness and inability to face up to my own mistakes, I tried to avoid the issue. So 7 years and 1 CCJ later, I'm only just now at the point where I can start taking serious steps to pay it off. I'm lucky that my patents were able to rescue me recently, as without them I would have been joining the queue of people whose immediate debt means they can't afford to pay their basi bills and rent.
I am angry at myself for my irresponsibility and my ignorance- it was easier to not worry about it, and teenage me loves the easy option. It was me who made the stupid decisions, all the lenders did was enable me. At least it wasn't crack.
Sorry about the terrible spelling and grammar- it's hard to read back and edit on my phone.
Sounds like you have a handle on it and that's all that really matters.
Does sound like your handling it well.
People aren't as strong as they'd like to think. When you're the one student not going clubbing, or you're the one dad who can't give his son a ps3 at Christmas.
And then the debt just grows especially if, as is more than likely you're income isn't rising year on year.
But your cost of living is.
Andthat's not mentioning people who lose their jobs, get hit with big repair bills, hikes in rent etc etc.
And I can tell you from a work point of view, those shylocks will lend money to anybody.
I'm getting ready to go spend too much money on some much-needed clothes and the last of my Christmas shopping. I'll catch up with it next month. 
I'm from the Mr Macawber school of don't have, don't spend but even I found out the hard way after just a few weeks of unemployment how vile our financial system is.
And that's for not being able to fulfill small direct debit commitments and full amounts of bills. As someone who lies awake if I owe as much as a fiver I was made to feel like a villian.
I also found out that years of a decent credit record count for nothing and can be destroyed in a matter of weeks.
In the US they have a semi-bancruptcy system called Chapter 11 which allows you to temporarily ringfence your business from creditors for short periods.I would introduce that to everybody who loses their job through no fault of their own.
Quote: youngian @ December 7 2011, 10:38 PM GMTIn the US they have a semi-bancruptcy system called Chapter 11 which allows you to temporarily ringfence your business from creditors for short periods.
IANAL, but I think Chapter 11 is typically used by businesses and individuals file Chapter 13.
^Sooty should have fun with that one.
On the news they are talking about 'Pay Day' loans that charge 100%-1000% interest, the Gov'mnt want this capped to £700 a time and applicants must be limited to 5 loans per year.
Why don't they ban them and instead invest funds into 'Credit Unions', who charge very little interest.
Quote: Nat Wicks @ December 7 2011, 9:21 PM GMTFor the record, I blame myself first and the financial market second.
Hmmm..
Quote: Nat Wicks @ December 7 2011, 9:21 PM GMTIt started when I was 18 and it was farrr too easy to get a student overdraft and credit card.. I wasn't anywhere near responsible enough and it just never occurred to me that the repayment might be difficult
So.. did they walk and talk you through the small print? Did they make you thoroughly aware of any dangers? Did they show you transparency?
Quote: Nat Wicks @ December 7 2011, 9:21 PM GMTI am angry at myself for my irresponsibility and my ignorance..
They love that.. the victim taking the blame..
Quote: Nat Wicks @ December 7 2011, 9:21 PM GMTIt was me who made the stupid decisions, all the lenders did was enable me.
The responsibility for one's own actions (and in your case honest and innocent ones) lies 100% with the self.
The blame/fault at the heart of any rip-off lies 100% with the person(s) instigating said rip-off: the dishonest ones, the cheats.
Quote: Nat Wicks @ December 7 2011, 9:21 PM GMTI'm sorry about..
There you go again.. don't blame yourself.. just make sure you learn from it. A lot of people don't.
All the best..
Quote: Stylee TingTing @ December 8 2011, 10:05 AM GMTThe blame/fault at the heart of any rip-off lies 100% with the person(s) instigating said rip-off: the dishonest ones, the cheats.
Were they dishonest? Did they cheat? I doubt it and can only assume that what they did was 100% legal and described fully in the contract which was signed by the customer.
Quote: DaButt @ December 8 2011, 1:49 PM GMTWere they dishonest? Did they cheat?
Ooooooooooh yes.
Quote: DaButt @ December 8 2011, 1:49 PM GMTI .. can only assume that what they did..
Like their customers assumed it must be a good deal, 'cos these guys said so?
Quote: DaButt @ December 8 2011, 1:49 PM GMT.. assume that what they did was 100% legal..
"100% legal" doesn't necessarily mean "100% honest and just"..
..and..
The Payment Protection Policy racket? That's doing the court rounds as we speak.. and our "justice" system has found and is still finding that it was illegal from the beginning.
So.. "100% Legal"..
I'm waiting for someone with the chutzpah (and loads of money) to test that out using the Law, the Law that oversees all UK Law..
Euro Law.
Quote: Stylee TingTing @ December 8 2011, 2:07 PM GMTOoooooooooh yes.
Ooooooooooh bullshit.
Ther has been a huge amount of misselling of financial products.
Quote: Timbo @ December 8 2011, 2:22 PM GMTTher has been a huge amount of misselling of financial products.
Also some misspelling 
We're talking about someone who used a credit card unwisely. Her complaint was that they made it "too easy" to get one and that's simply not dishonesty nor cheating.