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Channel 4 News - Lunchtime

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Did anyone see the Channel 4 lunchtime news today which had a bit about loans / debt.

They had a guy on who's son had been killed and daughter in law in hospital some miles away from their home. He got loans from various companies to allow him and his wife to travel down to the hospital she was in at a cost of £100.00 per journey. He now has debts of £40000+.

The guy is I believe 63 and nearly retiring, he is currently paying £250.00 per month to his debtors. This will take him over 13 years to pay the loan off. It appears he doesn't have any collateral either.

I sympathise with the guy and what he's gone through, I know when a situation like his occurs the last thing you think about is money, but I still can't imagine how can you rack up that much debt no matter what the circumstances.

Frightening how many others are in the same boat, it appears there are a lot as Lloyd's TSB have announced a 20%+ increase in bad debts this year so far.

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This case is not a good example to illustrate people's irresponsible attitude to debt and money: they have incurred debt because they have experienced the worst thing a person can suffer, the loss of a child. They are obviously racked with grief and are unlikely to be responsible for their actions because of it.

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The TV shows are currently trying to make debt seem like a problem of daft shoppaholics spending like there's no tomorrow. Sure, there's millions of these, but what about the others?

People get into debts for all sorts of reasons. Many students from average homes are bamboozled into megadebts, scared that if they don't go to Uni they'll end up sweeping floors at hairdressers.

Hundreds of thousands of low earners do not get a living wage. When will TV show the £5ph worker? - childless so unable to get council housing in the space of ten years, working two jobs, spending half their income to live a third world damp room, unable to realistically avoid debt.

What's the money guru going to say?

'Make tin of beans last three days'

'Go barefoot'

'Get a third job'

'Murder the loanshark/landlord/baliff'

Edited by CrashedOutAndBurned

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'Muder the loanshark/landlord/baliff'

Could this be the solution? Free accommodation, free food, activities provided with lots of time to indulge hobbies, read and so on. Also a little respect from the other conns and screws and a massive amount of satisfaction of a job well done.

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Why not become an asylum seeker, or just an indigenous benefit ponce

I hear its well paid (tax free income), short hours, good promotion prospects,company accomodation (very secure) few responsibilities.

Produce lots of hoody scum bag kids helping with the crime figures giving lots of others employment.

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  • 301 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?

      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%

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