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The Masked Tulip

1,400 In Plea For Help To Ease Spiralling Debts

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http://www.thisissouthwales.co.uk/news/1-400-plea-help-ease-spiralling-debts/article-3345584-detail/article.html

A CHARITY has warned of a debt crisis engulfing Swansea after more than 1,400 people contacted them in just 12 months.

The Consumer Credit Counselling Service said 1,401 people from the city called its helpline in 2010.

Only 345 of those had enough disposable income to start a repayment plan to help them begin to reduce their debts.

Spokeswoman for the charity, Una Farrell, said the figures were very worrying and were likely to get worse in the coming years.

She said: "The situation is awful and it is going to get worse.

"We have seen an increase in people using us and less people have been able to start off paying their debts.

"And things will be getting more difficult over the next few years with benefit changes being implemented from next month, and interest rates are bound to go up at some point over the next year. We think the pain of the recession hasn't really begun yet.

"Often, where there are a lot of public sector jobs it is difficult and Swansea is an example of this, as is Oxford in England.

"Both cities have a lot of families on low to middle incomes who are finding themselves being increasingly squeezed by things such as inflation and wage freezes.

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Tell the lot of them to stop spending money, live a frugal lifestyle, and forget about the possibility of having a retirement.

Bloody moronic British people with self inflicted financial wounds and incredibly naive sense of entitlement. Bah.

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If you read the dealing with debt boards on Motley fool or talk to CAB people. Then the thing you notice is that these people with debt almost always have the full sky hd package plus multiroom option for the kids at 70 quid a month, then 50quid a month contracts for mobiles so they could get the latest and greatest iphone, then kids mobiles, etc, etc.

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If you read the dealing with debt boards on Motley fool or talk to CAB people. Then the thing you notice is that these people with debt almost always have the full sky hd package plus multiroom option for the kids at 70 quid a month, then 50quid a month contracts for mobiles so they could get the latest and greatest iphone, then kids mobiles, etc, etc.

I know someone who grumbles about his rent on the 3 bed house he lives in alone and also has full tv package and smokes.

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If you read the dealing with debt boards on Motley fool or talk to CAB people. Then the thing you notice is that these people with debt almost always have the full sky hd package plus multiroom option for the kids at 70 quid a month, then 50quid a month contracts for mobiles so they could get the latest and greatest iphone, then kids mobiles, etc, etc.

It's the self inflicted chav lifestyle of the post boomers, but it's not their fault.

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Interesting how the interviewee is talking about problems caused by static wages in the public sector. And yet the reality is that even now, public sector income is outpacing that of the private sector.

The government should be doing all it can to help grow the private sector, and the only way it can do that is to tax it less.

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Just an anecdote, with the risk of sounding like a snob. However, getting married this year and went to this marriage class. People from very different backgrounds. The four people in the room with the lowest income are the ones who very strongly said "if you have money, spend it, you could be dead tomorrow". They felt very passionately about this. Now, people who earn more money can obviously save more, but I just found it quite...striking that the people who did have the least money were also the ones who saw absolutely no reason to save the little money they had. I'm not at all from a well off background and I fully realize people who end up in a bad situation with debts can end up so despite living frugally.

I just wonder when this country will implode from personal debt (secured and unsecured).

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Just an anecdote, with the risk of sounding like a snob. However, getting married this year and went to this marriage class. People from very different backgrounds. The four people in the room with the lowest income are the ones who very strongly said "if you have money, spend it, you could be dead tomorrow". They felt very passionately about this. Now, people who earn more money can obviously save more, but I just found it quite...striking that the people who did have the least money were also the ones who saw absolutely no reason to save the little money they had. I'm not at all from a well off background and I fully realize people who end up in a bad situation with debts can end up so despite living frugally.

I just wonder when this country will implode from personal debt (secured and unsecured).

The poor people are right. If you do the maths I think that you will find that there best option is just to spend everything, and if they can borrow and default. That maximises their spending power during their lifetime. The biggest reason for this is that you get no benefits if you have savings. And it is only worth saving if you are either totally secure in your job, unlikely on a low income, such that you can work til retirement, or if you can save enough such that the interest on the money is worth more than the benefits you would receive should you lose your work.

Only if we can reverse the massive growth in income inequality, and change the system that penalises saving for lower income groups, can we change people's behaviour. Their apparent lack of self responsibility is completely rational behaviour.

If you dont get this, your a snob.

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The poor people are right. If you do the maths I think that you will find that there best option is just to spend everything, and if they can borrow and default. That maximises their spending power during their lifetime. The biggest reason for this is that you get no benefits if you have savings. And it is only worth saving if you are either totally secure in your job, unlikely on a low income, such that you can work til retirement, or if you can save enough such that the interest on the money is worth more than the benefits you would receive should you lose your work.

Only if we can reverse the massive growth in income inequality, and change the system that penalises saving for lower income groups, can we change people's behaviour. Their apparent lack of self responsibility is completely rational behaviour.

If you dont get this, your a snob.

Totally agree on this.

If the banks get whirring again you can chuck a few million middle class perosons into the pot who will have no compunction in throwing debt back at the banks in a heartbeat.

When kunt talks of moral hazard he hasn't the faintest idea of how deep him and his bankster mates have rotted this country.

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£1,000,000,000,000 should cover it.

They can keep the change.

+1

Static wages/job cuts meets exponential unsecured interest rates (+17% upwards).

No brainer - just write the whole lot off.

Works for the banksters and RBS paid 300+ off them £345m in 'bonuses'.

The only way out of this is default for everyone right the way up the chain to the surplus countries.

The only question is how and over what period.

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+1

Static wages/job cuts meets exponential unsecured interest rates (+17% upwards).

No brainer - just write the whole lot off.

Works for the banksters and RBS paid 300+ off them £345m in 'bonuses'.

The only way out of this is default for everyone right the way up the chain to the surplus countries.

The only question is how and over what period.

This means full on systemic change though, and you know that ain't happening voluntarily.

I'm betting the banksters can't believe it's lasted this long, either. All those bonuses have "last minute looting" written all over them.

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If you read the dealing with debt boards on Motley fool or talk to CAB people. Then the thing you notice is that these people with debt almost always have the full sky hd package plus multiroom option for the kids at 70 quid a month, then 50quid a month contracts for mobiles so they could get the latest and greatest iphone, then kids mobiles, etc, etc.

the thing is, saving £150 on the little luxuries make barely a dent when your biggest cost, the home is sucking up £900 or much more every month.

So the thought goes, why bother...I might last another 2 months before its all over...might as well enjoy the TV.

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This means full on systemic change though, and you know that ain't happening voluntarily.

I'm betting the banksters can't believe it's lasted this long, either. All those bonuses have "last minute looting" written all over them.

It would take some sort of lightbulb moment for most of these people to suddenly realise they don't owe 'anything' - all they have is an unsecured debt, so they simply default and that's that. The banksters will keep them believing they have some bizarre moral obligation to repay which of course is complete nonsense (as many on here also believe for presumably based on some deap seated moral/religious conviction).

Anyway, the banksters are writing some of it down, but far too slowly and far too little. There appears to be roughly £212bn to go.

If there is a lightbulb moment then it could happen very suddenly, the £212bn would largely be transferred into sovereign debt (to cover lost bankster capital and since the govt. won't default on savings as it ought to) and thus that would in turn be defaulted on to China in return for their currency manipulation. It's just going to take a while and be greatly fudged to keep as many on the hook as possible. Poor deluded fools that they are.:(

http://www.creditaction.org.uk/helpful-resources/debt-statistics.html

Total secured lending on dwellings at the end of January 2011 stood at£1,240bn. The twelve-month growth rate remained unchanged at 0.7%.

Total consumer credit lending to individuals at the end of January 2011 was£212bn. The annual growth rate of consumer credit fell 0.3 percentage points to 0.8%.

UK banks and building societies wrote off £9.7bn of loans to individuals in the 4 quarters to end Q4 2010. In Q4 2010 they wrote off £2.27bn (£1.18m of that was credit card debt). This amounts to a write-off of £24.88m a day.

Average household debt in the UK is ~ £8,416 (excluding mortgages). This figure increases to £16,185 if the average is based on the number of households who actually have some form of unsecured loan

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If you read the dealing with debt boards on Motley fool or talk to CAB people. Then the thing you notice is that these people with debt almost always have the full sky hd package plus multiroom option for the kids at 70 quid a month, then 50quid a month contracts for mobiles so they could get the latest and greatest iphone, then kids mobiles, etc, etc.

Yes but you need that to be able to see the special Ocean Finance channel....

On a more serious point. I stayed with a friend a couple of weeks ago who has Sky. I was moderately curious and interested to see what might be on, after many many hours flicking through a seeming endless list of channels I realised that most of it is complete bilge, there was very little around I would have wanted to watch that either was on a Freeview channel or would not be missed if I never saw it again.

(they only had the basic package so no films/sport)

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It would take some sort of lightbulb moment for most of these people to suddenly realise they don't owe 'anything' - all they have is an unsecured debt, so they simply default and that's that. The banksters will keep them believing they have some bizarre moral obligation to repay which of course is complete nonsense (as many on here also believe for presumably based on some deap seated moral/religious conviction).

Anyway, the banksters are writing some of it down, but far too slowly and far too little. There appears to be roughly £212bn to go.

If there is a lightbulb moment then it could happen very suddenly, the £212bn would largely be transferred into sovereign debt (to cover lost bankster capital and since the govt. won't default on savings as it ought to) and thus that would in turn be defaulted on to China in return for their currency manipulation. It's just going to take a while and be greatly fudged to keep as many on the hook as possible. Poor deluded fools that they are.:(

http://www.creditaction.org.uk/helpful-resources/debt-statistics.html

Not all credit card borrowers are asset poor. Many have much to lose should they default.

I wouldnt even countenance issuing a card to anyone without some equity in their home right now. Just because the lending is unsecured, doesnt mean I cant go after those assets if I am not repaid.

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It would take some sort of lightbulb moment for most of these people to suddenly realise they don't owe 'anything' - all they have is an unsecured debt, so they simply default and that's that. The banksters will keep them believing they have some bizarre moral obligation to repay which of course is complete nonsense (as many on here also believe for presumably based on some deap seated moral/religious conviction).

Debt is largely psychological, related to early experiences with hypocritical parents.

My favoured method is to simply pay up - insisting on proof that my numbers are different to anyone elses. If you don't have the psychological drive to make some people special and some people average this comes easily.

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Not all credit card borrowers are asset poor. Many have much to lose should they default.

I wouldnt even countenance issuing a card to anyone without some equity in their home right now. Just because the lending is unsecured, doesnt mean I cant go after those assets if I am not repaid.

The fact that credit cards are a scam with no money involved means you are entitled to twelve tenths of ****** all though, and should in fact be in jail for fraud. :)

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It would take some sort of lightbulb moment for most of these people to suddenly realise they don't owe 'anything' - all they have is an unsecured debt, so they simply default and that's that. The banksters will keep them believing they have some bizarre moral obligation to repay which of course is complete nonsense (as many on here also believe for presumably based on some deap seated moral/religious conviction).

Anyway, the banksters are writing some of it down, but far too slowly and far too little. There appears to be roughly £212bn to go.

If there is a lightbulb moment then it could happen very suddenly, the £212bn would largely be transferred into sovereign debt (to cover lost bankster capital and since the govt. won't default on savings as it ought to) and thus that would in turn be defaulted on to China in return for their currency manipulation. It's just going to take a while and be greatly fudged to keep as many on the hook as possible. Poor deluded fools that they are.:(

http://www.creditact...statistics.html

Having just dropped Baby at the Airport this morning ( no food parcel required), driving back I began a mind game of me, in court and the judge asking why I didnt appear serious about the order to pay he was about to make.

My reply was that I have a piece of paper issued by the bank, and I have another piece of paper issued by another bank, and one piece of paper says I havent added any numbers to their tally, and the other one says I have no numbers left with which to do it, so Mr judge, judge away, but there are no numbers to move from one sheet to the other.

Meanwhile, In the World of life and death, we could all be about to be irradiated with things which have names and numbers and really could do me some harm.

Then we have bankers making the cost of Japan cashing in its numbers considerably higher, when they need to buy things to help one another.

Do you really think I give a flying frack that Mr Suit in the Plaintives chair cant get his numbers replenished?

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Not all credit card borrowers are asset poor. Many have much to lose should they default.

I wouldnt even countenance issuing a card to anyone without some equity in their home right now. Just because the lending is unsecured, doesnt mean I cant go after those assets if I am not repaid.

Im sure the first charge holder is going to get you a look in.

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Having just dropped Baby at the Airport this morning ( no food parcel required), driving back I began a mind game of me, in court and the judge asking why I didnt appear serious about the order to pay he was about to make.

My reply was that I have a piece of paper issued by the bank, and I have another piece of paper issued by another bank, and one piece of paper says I havent added any numbers to their tally, and the other one says I have no numbers left with which to do it, so Mr judge, judge away, but there are no numbers to move from one sheet to the other.

Meanwhile, In the World of life and death, we could all be about to be irradiated with things which have names and numbers and really could do me some harm.

Then we have bankers making the cost of Japan cashing in its numbers considerably higher, when they need to buy things to help one another.

Do you really think I give a flying frack that Mr Suit in the Plaintives chair cant get his numbers replenished?

The real question is why you don't just replenish them yourself?

There are no special flowers.

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The real question is why you don't just replenish them yourself?

There are no special flowers.

that would be criminal...you do realise that each every £5 note is endowed with the spital of central banker lips, specially chosen for its purity and health giving benefits.

Of course, if you follow the value behind each and every £5...it is in fact...You and Me....so yes, why dont I just produce my own sheet....very very efficient indeed.

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  • 309 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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