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Credit Card 'torture'

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http://www.bbc.co.uk/news/business-13199797

Submitted as evidence to his recent court hearing, the log records more than 700 mainly automated phone calls which he says he received from the credit card firm from the beginning of 2008.

Along with the calls in 2007, Mr Harrison estimated he had been bombarded with between 1000 and 1,500 calls, mainly from MBNA, and then from Link - who bought the debt from MBNA in the autumn of 2008.

"They would follow a pattern, they would call my mobile, my home and my business in a set sequence," he says.

"It was unnecessary and distressing, and there was no need for them as I was communicating in writing."

Banksters licenced by our government of course.

Not quite the warm, cuddly bankstering system promoted and overseen by Lord Turner and Mervyn King is it.

More like criminal gangs using extortion and psychological warfare to extract cash with menaces.

The sooner these cartels are broken up and their gang leaders jailed the better for all of us.

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Stand by for a barrage of posts defending the money lenders against these feckless borrowers.

Once you sign up for any kind of borrowing you are automatically guilty of being reckless and deserve anything the banks decide to throw in your direction.

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Surely the way to get around that is to get one of those premium rate lines and set it up to an answer phone with a long message on it. Make sure you answer it every so often, and keep them on the line as long as possible... ;)

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There do need to be controls on collection processes which are often excessive, but we must remember that.

He will have beneffited in some way through using the credit facility

He is probably ignoring any demands for repayment.

Yes, the banks are ***** and magic money out of nowhere injin, but a little bit of personal responsibility and restraint from the public in the first place would have stopped them becoming the monster they have become.

Edited by Reck B

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Over the last 10-12 years credit agencies have been allowed to assume astonishing powers to harass and extort as well as lend vast amounts to vulnerable people without any kind of regulation of any meaning.

This all happened under a Labour Government.

When will the supporters of the left wake up and "smell the coffee" as our American friends would say?

I've had a little taste of this myself .... on a debt I never actually took out, it was an error in the first place and then passed on to the collection agency. Only I knew how to get it stopped (eventually).

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Surely the way to get around that is to get one of those premium rate lines and set it up to an answer phone with a long message on it. Make sure you answer it every so often, and keep them on the line as long as possible... ;)

That sounds a fun option. However it's not always practical.

This chap had the poor luck to be coping with serious illness of his mother, wife and daughter pretty much simultaneously, leading (he says) to taking his eye off his business, forgetting to invoice clients resulting in cash flow problems.

He couldn't completely ignore the phone because calls might relate to illnesses of relatives - and anyway HSBC cycled the calls between his landline, mobile and office numbers.

The judge appears to have decided HSBC were a poorly organised bank rather than him a feckless borrower.

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There do need to be controls on collection processes which are often excessive, but we must remember that.

He will have beneffited in some way through using the credit facility

He is probably ignoring any demands for repayment.

They never loaned him anything. That they commited fraud isn't his fault, even if he benefitted and giving them even more free stuff won't fix it.

Yes, the banks are ***** and magic money out of nowhere injin, but a little bit of personal responsibility and restraint from the public in the first place would have stopped them becoming the monster they have become.

No, it wouldn't.

If everyone was completely rational and well behaved the result would be exactly the same, it'd just be a damn sight more obvious it was due to systemic design.

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Back street lender would have broken his legs.

What do you want for being so stupid with other peoples money? Hugs?

Banks don't lend money.

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Surely the way to get around that is to get one of those premium rate lines and set it up to an answer phone with a long message on it. Make sure you answer it every so often, and keep them on the line as long as possible... ;)

You know what, that is genius. Set up one of those numbers, and then go on the internet and sign up for everything you can find. Give the number as your contact number and make sure you tick all the "Let us contact you and sell your details" type message. I am very very tempted to do this :P

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They never loaned him anything. That they commited fraud isn't his fault, even if he benefitted and giving them even more free stuff won't fix it.

Fraud? Can you prove this within the boundaries of our legal system?

No, it wouldn't.

If everyone was completely rational and well behaved the result would be exactly the same, it'd just be a damn sight more obvious it was due to systemic design.

So if no-one bought cakes, there would still be cake shops?

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Banks don't lend money.

Oh boy, here we go again.

Money is what ever you want it to be, as a medium of trade. In this world banks give you something for which you can trade with, be it wooden shillings or soiled underpants, and collect interest on it.

We may all not like or agree with the system, or even understand it, but if you try to buck it, you had better have one of these...

Get_Out_of_jail_free_card.jpg

Take your metaphysical arguments elsewhere, like Cambridge or Oxford perhaps, as you are exceptionally good at it.

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So if no-one bought cakes, there would still be cake shops?

Sorry mate, fraud is a factual description. Whether some knobjockey with a woolly hat on will prosecute it means ****** all.

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Oh boy, here we go again.

Money is what ever you want it to be, as a medium of trade. In this world banks give you something for which you can trade with, be it wooden shillings or soiled underpants, and collect interest on it.

We may all not like or agree with the system, or even understand it, but if you try to buck it, you had better have one of these...

Get_Out_of_jail_free_card.jpg

Take your metaphysical arguments elsewhere, like Cambridge or Oxford perhaps, as you are exceptionally good at it.

While money might be whatever you want it to be, banks still don't lend it.

They extend credit, they do not make loans.

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Sorry mate, fraud is a factual description. Whether some knobjockey with a woolly hat on will prosecute it means ****** all.

If you know it's fraud and can prove it, would you be prepared to test the legal system?

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Over the last 10-12 years credit agencies have been allowed to assume astonishing powers to harass and extort as well as lend vast amounts to vulnerable people without any kind of regulation of any meaning.

This all happened under a Labour Government.

When will the supporters of the left wake up and "smell the coffee" as our American friends would say?

I've had a little taste of this myself .... on a debt I never actually took out, it was an error in the first place and then passed on to the collection agency. Only I knew how to get it stopped (eventually).

I'm a supporter of the left (welfare state, state ownership of natural monopolies etc). New Labour weren't of the left.

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Back street lender would have broken his legs.

What do you want for being so stupid with other peoples money? Hugs?

Awww.......

Someone that still believes when he lends money to a bankster he keeps it in a little box with his name on it round the back.

How quaint.

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Again? is there a thread on this? would be genuinely interested to know more if poss.

Where do you think I got my views from?

Pretty much all banks will leave you alone, delete records etc etc if you call them on their little scam. They only get away with it because no one complains.

As for actively proving fraud, forget about it.

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As far as I am concerned, based on what I am seeing around me in my own circle of friends/work colleagues/accquaintances over last 10+ months, this is all academic.

As I am seeing increasing numbers of people 'throwing in the towel' and just 'walking away' from their unsecured debts (i.e complete, abrubpt cessation of all payments and contact with lenders). In fact most of them have expressed a sense of 'relief' of realising that 8 months later they are still alive and well and carrying on about their business as normal. On the plus side these few have expressed that they have learned a valuable lesson re: life/cost of living/etc - and are using the monthly amounts saved thus far to squirrel away for the age old proverbial 'rainy day' pleased that they are no longer living from paycheque to paycheque.

Thus far, as far as I am aware, NOTHING has happened to any of the persons concerned. I am rapidly coming to the view that a new sh*tstorm looms for lenders as in the not too distant future the wider public will start to wake up to the fact that there are no debtors prisons, etc and that there is (for a fair few many) the fourth option alongside of the customary three choices (i.e Bankruptcy, IVA or Debt Relief Order) - and that is to tell the lenders to take a hike.

Remember it doesnt take every borrower of unsecured credit to do this, just a small percentage and the banks/lenders are in serious trouble again.

Edited by anonguest

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I'm a supporter of the left (welfare state, state ownership of natural monopolies etc). New Labour weren't of the left.

Oh, they were in some areas, such as sticking their noses into peoples' private lives and wasting vast sums of money on pointless, expensive projects. New Labour's great achievement was to marry the worst aspects of the left with the worst of the right in a stunning display of incompetence that (I really hope) will never be repeated.

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Remember it doesnt take every borrower of unsecured credit to do this, just a small percentage and the banks/lenders are in serious trouble again.

When the banks are in trouble they come begging to the tax payers. If the tax payers didn't bail them out then they'd shaft their depositors instead by not returning the money on deposit. Frankly, I'd rather people just paid what they owed since any other route involves me paying for their spendthrift habits.

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When the banks are in trouble they come begging to the tax payers. If the tax payers didn't bail them out then they'd shaft their depositors instead by not returning the money on deposit. Frankly, I'd rather people just paid what they owed since any other route involves me paying for their spendthrift habits.

The only way you are going to get that is total bank reform.

As things stand you pay via higher prices whether they repay or not.

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  • 276 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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