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Turnbull2000

Scotland Proposes Debtor Protection Bill

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http://news.scotsman.com/politics/New-laws...eded.5662881.jp

PROPOSED laws aimed at improving protection for homeowners threatened with repossession could be passed by Holyrood in a day, Labour has said.

Cathy Jamieson has written to Health Secretary Nicola Sturgeon, whose portfolio includes housing, offering to help rush the legislation through parliament.

Will this create a floor under prices as repos will no longer set lower values at the margin?

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...no...probably kill any market left ...who is going to lend in such an environment...?.... <_<

But who are the big players in the Scottish mortgage market? I'd imagine the nationalised banks will be forced to go along with this.

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Measures in the bill include requiring lenders to demonstrate that they have taken reasonable steps to avoid repossession, and extending the period by which a sheriff may postpone the sale of a family home in bankruptcy from one to three years.

A better protection for debtors would be to prevent predatory fees and practices by lenders and debt-collectors during and following the default.

Extending the period just gives more time for outstanding payments to roll up.

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These FILTH should be NAILED to a chair and FORCED to watch DENNINGERS latest videos on the INEVITABLE COLLAPSE.

Print piggies, deny logic, force us all to bail you out, just so you can say you own(owe to a bank) rather than rent. Take us all down with you. Your children, your friends, your relatives. JUST SO YOUR EGO IS MASSAGED. Just so you are convinced you arent a complete IDIOT who made the WORST INVESTMENT OF ALL TIME. Enjoy it for the short time the delusion lasts.SCUM.

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...no...probably kill any market left ...who is going to lend in such an environment...?.... <_<

No-one. Game over.

This is all part of what was expected.

Government intervention, protectionism... FAIL.

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No-one. Game over.

This is all part of what was expected.

Government intervention, protectionism... FAIL.

why?

US banks lent...they have non recourse in most states.

people are just abandoning their homes....from what I see this is just to allow the rolling up of debt from one to three years.....banks will just take three years to get their cash back instead of 1.....still it should put rates up for scotish borrowers a bit.

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But who are the big players in the Scottish mortgage market? I'd imagine the nationalised banks will be forced to go along with this.

no, this would be against competition law

you are definitely at the bargaining stage

(denial - anger - bargaining - **still to come** - depression, then acceptance )

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They probably won't be allowed to have different rates in Scotland.

why? they can have different rates for different peoples situations....these people, by their location, have a different situation.

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can we dissolve the union now please? I think England may have a chance, so can we let Scotland fall into its own (deeper) disfunctional inflationary abyss??

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