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Banks See Bad Debts Rise!

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Cannot fined a report on the BBC website on this at moment but 10 O'Clock news had a report on the rise of Bad Debts and consumer credit problems

Bad Debt Figures quoted by BBC

lloyds up 21%

egg up 42%

Abbey up 42%

thats some increase

If your up still tonight you might be able to watch 10pm News on BBC site

skip to 24min 30sec

BBC News stream

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Guest Charlie The Tramp

There were figures of up to 12 billion pounds expected for bad debts, and the Bulls say things are not goung tits up. :lol:

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Cannot fined a report on the BBC website on this at moment but 10 O'Clock news had a report on the rise of Bad Debts and consumer credit problems

Bad Debt Figures quoted by BBC

lloyds up 21%

egg up 42%

Abbey up 42%

thats some increase

If your up still tonight you might be able to watch 10pm News on BBC site

skip to 24min 30sec

BBC News stream

Can this imply that Egg and Abbey were roughly twice as irresponsibel as LloydsTsb ?

Or may it imply that LloydsTSB are roughly twice as good at presenting figures as thier counterparts ?

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Now you know why Mr Brown changed the personal bankruptcy rules last year, IMO the Government will be happy to see rising bad debt for the banks, it's just a back-door "windfall tax" on the banks. They couldn't be seen to impose one themselves, too anti-business in appearance, but it's a wonderful way to get billions of banks profits pumped back into the economy.

After all, those running up these bad debts are not stuffing the money under the floorboards, they are out in the shops spending it, which is just what the Government wants.

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Cannot fined a report on the BBC website on this at moment but 10 O'Clock news had a report on the rise of Bad Debts and consumer credit problems

Bad Debt Figures quoted by BBC

lloyds up 21%

egg up 42%

Abbey up 42%

thats some increase

If your up still tonight you might be able to watch 10pm News on BBC site

skip to 24min 30sec

BBC News stream

I read recently that egg's loan portfolio was 80% unsecured, I'd rather have my money with the High Street. It looks like egg could be vunerable.

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A colleague at work told me that one of his relatives who works for Abbey has been told that he can have all the overtime he wants and is currently working 7 days a week on bad debts and bankruptcies.

Some of this may be to do with the new bankruptcy rules but it's still looks pretty bleak!

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The BBC's Real Story (yeah I know theyre usually cr@p) did a doc back in May about allegations of irresponsible lending by Lloyds TSB. Theres a follow-up this Monday looking at banks continuing to act in similiar fashion........

BBC 1

7:30 pm. Monday 1st August

Real Story

With concern growing about irresponsible lending throughout Britain's financial industry, Fiona Bruce speaks to employees and customers to expose more banks behaving badly

.
While the majority were concerned about Lloyds TSB, many claimed other banks were also behaving badly.

In this programme, we hear from more people who say they were given loans they could never afford to pay back. They all have disabilities or are living on benefits.

We also speak to bank staff who blame this mis-selling on poor training and the pressure to hit sales targets.

Real Story asks if self-regulation by way of the Banking Code is enough - and whether the government should do more to stop irresponsible lending.

--------------------------------------------------------------------------------

Real Story - BBC ONE, Monday 1 August, 2005 at 193O BST.

BBC.....Irresponsible lending

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I can see it soon on TV lots of cathartic confessional programms with the nasty banks being to blame for spendthrift ways. The only difference from Trisha will be that the audiance will be middle class. perhaps gordon brown can go on one. but he will have to borrow tonys make up

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I have over £100,000 sat in an egg account earning 5.5% interest. It reverts back to 4.75% in Oct time at which point I will move it. Do you think I should leave it there or move some and leave £32,000 in which is 90% safe?

Worried now but wont get such a good deal elsewhere.  :blink:

Gee thanks for that. We at HPC just love to talk about how much money we have.

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You have got plenty of cash and a big loving family. This is wonderful for you! :)

You are broadcasting very personal information on a forum that, by intention, contains a high proportion of people very disenchanted in the current climate and to whom your position is very enviable!

Most of the above population will no doubt be happy for you - as any normal human being would be - but it does rather stick the knife in ! :unsure:

I don't know what it is that you are trying to achieve.

I hope you manage to find another suitable home for your family.

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Arrh but Ive got three kids and a hubby and we need a 3/4 bed house near Newbury.

This is terrible.

I am immediately opening an account for donations

so that those who wish to help this tragic family may

do so.

Please feel free to pauperise yourselves in pursuit

of this family's wealth, comfort and happiness.

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Sorry. I didnt mean to offend anyone. Some people on here have got alot more than that and my point was fear of egg crashing, not bragging.. I fully understand FTB's problems.

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Sorry. I didnt mean to offend anyone. Some people on here have got alot more than that and my point was fear of egg crashing, not bragging..  I fully understand FTB's problems.

I would not put all my eggs in one baskets (sorry could not resist the pun)

I'd spread it over a couple of places and for that amount I'd think about putting 5-10% in to gold/platinium

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This is terrible.

I am immediately opening an account for donations

so that those who wish to help this tragic family may

do so.

Please feel free to pauperise yourselves in pursuit

of this family's wealth, comfort and happiness.

Looks like someone already did - 100K in the bank from the proceeds ! :P

To Miche:

I am obviously envious of your situation, and I did allow this to get the better of me just now. There have been other offenders and you were the straw that broke the camel's back as they say.

There ya go.

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I think it takes two to tango.

Agrred the banks, due to competition for the interest payable on the loans have been behaving badly.

That they should suffer for their behaviour is correct - though more than likely the govt will step in to mitigate the worst of it for them.

The individuals who obtained the loans, by and large know deep down they cannot cover ti, and worked on the assumtion that they woudl make a killing on the capital gain.

To claim it is the banks fault that they gave them money that they asked for , but knew they could not repay is a phoney argument.

ABB

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I think it takes two to tango.

Agrred the banks, due to competition for the interest payable on the loans have been behaving badly.

That they should suffer for their behaviour is correct -

To claim it is the banks fault that they gave them money that they asked for , but knew they could not repay is a phoney argument.

ABB

Banks won't suffer the money never existed in the first place - for them its a Win/ Win situation them

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Sorry. I didnt mean to offend anyone. Some people on here have got alot more than that and my point was fear of egg crashing, not bragging..  I fully understand FTB's problems.

The post you made could be viewed as insensitive but I did not read it as such. It was big of you to apologise.

HK,

Envy is a bad thing. Be careful what you wish for.

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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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