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Mortgage Debt Is Not Debt - B B C

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BBC News have a debt theme today and they had a woman from the National Debt Line on to give advice.

I only caught the end of it but these points stuck out.

Try to boost your tax credits, or reduce outgoings, (in that order).

It's a British thing to be embarrassed about talking about being in debt, but seek advice.

Prioritise your debt, pay your rent first.

Reschedule your debts.

So there we have it. No mention of prioritising mortgage payments, or the embarrassment of having mortgage debt, so presumably mortgage debt is not debt.

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BBC News have a debt theme today and they had a woman from the National Debt Line on to give advice.

I only caught the end of it but these points stuck out.

Try to boost your tax credits, or reduce outgoings, (in that order).

It's a British thing to be embarrassed about talking about being in debt, but seek advice.

Prioritise your debt, pay your rent first.

Reschedule your debts.

So there we have it. No mention of prioritising mortgage payments, or the embarrassment of having mortgage debt, so presumably mortgage debt is not debt.

Perhaps it's that the overwhelming majority of calls to the National Debt Line are from people who are on low incomes and who rent.

I don't know whether that's the case - I can't find any published figures on who calls the line.

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BBC News have a debt theme today and they had a woman from the National Debt Line on to give advice.

I only caught the end of it but these points stuck out.

Try to boost your tax credits, or reduce outgoings, (in that order).

It's a British thing to be embarrassed about talking about being in debt, but seek advice.

Prioritise your debt, pay your rent first.

Reschedule your debts.

So there we have it. No mention of prioritising mortgage payments, or the embarrassment of having mortgage debt, so presumably mortgage debt is not debt.

No, I would say to many mortgage debt is a way of life.....and it is no debt if they are not repaying it. ;)

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Try to boost your tax credits, or reduce outgoings, (in that order).

How on earth can someone 'boost their tax credits'? Aren't they assessed objectively according to circumstances?

They are one of the worst things Brown ever did. Basically helicopter money combined with a bribe to 'his' voters. Let's forget about fixing the causes of underemployment or child poverty and just throw money at people - making it almost impossible for those who don't qualify or don't claim to cope with the resulting inflation. They should be phased out immediately.

Many people are still under the impression that they aren't a 'benefit' and that they have something to do with the tax they paid.

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How on earth can someone 'boost their tax credits'? Aren't they assessed objectively according to circumstances?

They are one of the worst things Brown ever did. Basically helicopter money combined with a bribe to 'his' voters. Let's forget about fixing the causes of underemployment or child poverty and just throw money at people - making it almost impossible for those who don't qualify or don't claim to cope with the resulting inflation. They should be phased out immediately.

Many people are still under the impression that they aren't a 'benefit' and that they have something to do with the tax they paid.

Resulting inflation?

Just getting rid of tax credits would make the current problem with inequality and low demand in the economy even worse. I'd prefer to see some form of CI instead, to get rid of the various benefit traps.

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BBC News have a debt theme today and they had a woman from the National Debt Line on to give advice.

I only caught the end of it but these points stuck out.

Try to boost your tax credits, or reduce outgoings, (in that order).

It's a British thing to be embarrassed about talking about being in debt, but seek advice.

Prioritise your debt, pay your rent first.

Reschedule your debts.

So there we have it. No mention of prioritising mortgage payments, or the embarrassment of having mortgage debt, so presumably mortgage debt is not debt.

Yes,and interesting the advice is to get more tax credits.As the government is in deficit that adds directly to the debt.So once again the advice is pass your debt onto other people who were more careful and their children.

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I saw this as well. The saddest part was the lady they interviewed who was actually in debt. A 28 year old single mother with arrears to the council for rent and council tax as well as utilities.

She was going back to college to retrain to try to get a career, which is fair enough, but then (of course) she dropped the bombshel - "What I'd really like to be able to do is get a mortgage"....

So, work as hard as possible to get out of a relatively small amount of day to day debt, so you can pursue the British dream of getting into massive debt. Sad.

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Yes,and interesting the advice is to get more tax credits.As the government is in deficit that adds directly to the debt. So once again the advice is pass your debt onto other people who were more careful and their children.

Really? People just take the tax credits, cash them out and put them in a paper shredder?

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Really? People just take the tax credits, cash them out and put them in a paper shredder?

having the cash is very different to having a debt that needs to be repaid. The person gets the tax credit money and spends it. But before that, the Government has had to borrow to receive a part of it not covered by its tax income.

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I saw this piece too. It annoyed the cr@p outta me.

Single mum, when asked about how her finances got out of control, says : "First there were the RENT ARREARS, then the COUNCIL TAX, then I had a large energy bill and now the water rates."

Switch to the BBC correspondent: "People are getting in to debt, not because of luxuries bought on credit card, but because of day to day living expenses, such as electricity, gas, water and food..."

Me: "Yeah, but those expenses are not only much smaller than property costs, they were refered to by your vox-pop girl AFTER property costs, yet you failed to mention those costs as a problem. Like WTF (that last bit admittedly barked out in a fashion likely to make regular tourettors blush with vicarious embarassment)"

Switch to studio and anchor : "So what is pushing these people in to debt?"

Debt advice woman : "Believe it or not it's water bills."

Me : "Well I'm glad you gave me that choice because "believe it or not" I'm gonna plump for the latter!"

Some hours have passed since this incident, and, despite the red mist having lifted, I'm left wondering how anyone could believe a water bill, averaging ~450 quid, could be blamed for pushing people into debt, when those same people are shelling out perhaps 14 to 26 times that figure in RENT and COUNCIL TAX. See that? I'm all upset again. Point me in the direction of a bed in darkened room ....

Starting to believe there is a countrywide conspiracy between government, MSM, charities and regulators to ignore the elephant in the room.

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