Jump to content
House Price Crash Forum
Sign in to follow this  
libitina

The Harsh Reality Of Debt

Recommended Posts

Guest Bart of Darkness
"I simply don't understand how banks can sit back and watch someone getting into a helpless situation like this while all the time threatening legal action."

Because the banks are now parasitical cancers on the ars* of the world?

Formerly healthy cells, doing a necessary job, they latterly have become malignant tumours, draining the health from their host.

Expect more stories like this.

Share this post


Link to post
Share on other sites

Very sad, and it is not the first story we have discussed on HPC about suicide cases over debt (there was a good thread started by DrBubb last year about the husband who hid his debts from his family and then killed himself.. however, they still have the house).

The sad thing about this story is that the numbers aren't even an extravagance. £14k to get through university is pretty much par for the course now.

I know a case of a girl with £90k personal debt. She does all the wrong things - she's an aspiring actress but lives on a below-average salary in a part-time job. She only pays off the minimum amount on her cards each month. You have to wonder how the credit card companies ever think they are going to get their money back. She's going to file for bankruptcy, of course, but in the mean time she's going to keep spending.

Share this post


Link to post
Share on other sites

I know a case of a girl with £90k personal debt. She does all the wrong things - she's an aspiring actress but lives on a below-average salary in a part-time job. She only pays off the minimum amount on her cards each month. You have to wonder how the credit card companies ever think they are going to get their money back. She's going to file for bankruptcy, of course, but in the mean time she's going to keep spending.

As much as I don't agree with your friends attitude, I'd much rather people did this than commit suicide over it.

Have the debt advise lines got the extra people they needed to man the phonelines does anyone know? First CC bills after Xmas are due anytime soon.................

Share this post


Link to post
Share on other sites

Very sad, the only concillation, if there is one, is that the fffing bank wont see a penny ever!

If I had some terminal condition I would take out huge credit card debts and give it to charity.

Share this post


Link to post
Share on other sites

The banks will come to rue this sort of thing once things turn sour, it will make Enron appear like a petty argument. The fact the whole industry cannot stop itself has again ruined a life that was infinitely more valuable than their own sorry bottom line will ever be.

Look at the TV programmes, they casually tell somebody to offer £14k more for a house like it means nothing, to them it doesn't.

Share this post


Link to post
Share on other sites

Look at the TV programmes, they casually tell somebody to offer £14k more for a house like it means nothing, to them it doesn't.

Good point. Before I stumbled upon this site, I always wondered where they miraculously found another £50k from.

:rolleyes:

How long before someone sues the banks for manslaughter?

Share this post


Link to post
Share on other sites
Guest Bart of Darkness
The sad thing about this story is that the numbers aren't even an extravagance. £14k to get through university is pretty much par for the course now.

Indeed. Although I wouldn't want to casually dismiss 14k of debt, by today's standards it's not an uncommon amount and far lower on average than is owed by the numptys who appear on Spendaholics or Bank of Mum and Dad.

Share this post


Link to post
Share on other sites

This is a desperately sad case. As far as I can see, she has not been a spendaholic (not that that would excuse anything!), she has simply funded her way through further study.

The sums involved are tiny, and I actually don't blame the bank for not having forseen that somebody may over-react to such a grave extent.

Having said that, banks should get back to what they used to do and call you in for a frank discussion about your situation, rather than send cowardly and threatening letters.

NDL

Share this post


Link to post
Share on other sites

Thats a prety sad story and like others have said im sure there are and will be many more cases in the months and years to come. :(

I don't know about other people but i think i am in the minority by never borrowing any money whatsover and buying only what i can afford what about you?

Share this post


Link to post
Share on other sites

I once earned 13k in a 'graduate' job. I paid 250 in various college debts a month. It was basically minimum wage living. I sometimes went semi-hungry, lived in an utter dump, certainly dressed like a tramp, and often added to my debt to get by.

14k, 15k, any freaking k of debt for a young person that hasn't even started their life proper is IMMORAL, EVIL and SICK. Not only that, it sometimes kills. If only she could have enjoyed the free education scumbag Bliar and ******* Brown enjoyed this young lady would still be around.

Share this post


Link to post
Share on other sites

I saw this item on Sky News and it is tragic. Sadly, as others have commented, this poor girl will be just one of a great many who take their own lives because of debt. It is simply appalling and my heart goes out to her, her family and to others who end up taking their own lives.

It is a terrible thing indeed to reach a point in your life when you feel isolated, all alone and that your troubles are such that you take your own life.

Share this post


Link to post
Share on other sites

while this is a desperately tragic story, I can't help feeling that other factors were likely to also be in play here.

After all, the debt was not huge, and they were only asking for an installment, not the full amount.

Further, if they were asking for a repyament on a student loan, this will have been dependent on and relative to her earnings. Add to this the fact that as a graduate, she must have known many other graduates in the same or similar financial position... surely all these contacts were not suicidal over it.

I reckon this was a straw that broke the camel's back on top of many other personal factors, rather than the sole cause.

Share this post


Link to post
Share on other sites

Have the debt advise lines got the extra people they needed to man the phonelines does anyone know? First CC bills after Xmas are due anytime soon.................

Glad somebody on this thread has made the point that to get a higher eductaion these days debt is mandatory; that to me is a tragedy. And to answer your question L there have been reports in the papers just over the last couple of weeks that calls to CAB and debt agencies are going unanswered because they don't have the staff. A Tory debt commission last year highlighted this. I wonder will this girl's death change anything? The banks should be obliged to donate some of their profits to the charities that are left to mop up the mess their lax lending has created.

LL

Share this post


Link to post
Share on other sites

I suppose the banks reasoning is that no one forced these people who are massively in debt, to sign on the dotted line and then squander it all away (although not in this girls case)

Share this post


Link to post
Share on other sites

while this is a desperately tragic story, I can't help feeling that other factors were likely to also be in play here.

After all, the debt was not huge, and they were only asking for an installment, not the full amount.

Further, if they were asking for a repyament on a student loan, this will have been dependent on and relative to her earnings. Add to this the fact that as a graduate, she must have known many other graduates in the same or similar financial position... surely all these contacts were not suicidal over it.

I reckon this was a straw that broke the camel's back on top of many other personal factors, rather than the sole cause.

It said 'graduate loan'. That's a debt the debtscum tempt you with to get into yet more debt as they know that with your Student Loans, McJob prospects, and the need to travel to some grimey city to get your low-paid 'experience builder' job you are easy prey.

14k is a huge amount if you don't land some great graduate jobs. A majority of graduates do not land well-paid jobs straight away and if she was trying to pay her way temping while writing zillions of application letters she likely fell into more debt and depression.

A lot of my Uni peers were pretty downbeat when they couldn't find jobs other than the McJobs they used to do on a Saturday.

Share this post


Link to post
Share on other sites

If only she could have enjoyed the free education scumbag Bliar and ******* Brown enjoyed this young lady would still be around.

They've kicked the ladder down from behind them so I wouldn't expect any sympathy, unless your parents have the money to send you to public school a kid from a poor family doesn't even stand a chance today, the grammar school route is no longer open.

The idea is to sink people in debt right from the start, it puts them under the thumb and keeps them in their place, when you've forced them to buy into the debt culture then pillory them for not buying a £180k house, tell them they're "missing the boat" and tell to "stop trying to be clever!" and not to "pour money down the drain" by renting the very property they would have easily bought a decade ago. If they cannot manage that then offer them the chance to buy 75% of a house, maybe 50% or even 25% if things are that desperate, give them the first fix for free, make out you're trying to help them and get them hooked on the debt bug and they're yours for 25 years.

Once you've got them subsumed into the system get them to pay for all manor of things that aren't actually open to them, well, not when they come to use them, get them to pay for lavish pensions and the burden of heathcare. If there's an election then stuff them, they don't vote and there aren't enough of them and they never revolt anyway. Label them all thugs, equate the word young to asbo if it helps get the right sort of votes in.

Get them to pay for everything of use, if they have the audacity to want an education make sure they pay for it, if they want to do outrageous things like travel to work in the morning by car or by train then make them pay, then make them pay extra again for the trouble, if their teeth fall out make 'em pay, if need a prescription make them pay for that too, if you drive them to drink really make them pay, drive them into debt, make them pay. If we go to war on a whim just send them abroad, make them pay.

Share this post


Link to post
Share on other sites

They've kicked the ladder down from behind them so I wouldn't expect any sympathy, unless your parents have the money to send you to public school a kid from a poor family doesn't even stand a chance today, the grammar school route is no longer open.

The idea is to sink people in debt right from the start, it puts them under the thumb and keeps them in their place, when you've forced them to buy into the debt culture then pillory them for not buying a £180k house, tell them they're "missing the boat" and tell to "stop trying to be clever!" and not to "pour money down the drain" by renting the very property they would have easily bought a decade ago. If they cannot manage that then offer them the chance to buy 75% of a house, maybe 50% or even 25% if things are that desperate, give them the first fix for free, make out you're trying to help them and get them hooked on the debt bug and they're yours for 25 years.

Once you've got them subsumed into the system get them to pay for all manor of things that aren't actually open to them, well, not when they come to use them, get them to pay for lavish pensions and the burden of heathcare. If there's an election then stuff them, they don't vote and there aren't enough of them and they never revolt anyway. Label them all thugs, equate the word young to asbo if it helps get the right sort of votes in.

Get them to pay for everything of use, if they have the audacity to want an education make sure they pay for it, if they want to do outrageous things like travel to work in the morning by car or by train then make them pay, then make them pay extra again for the trouble, if their teeth fall out make 'em pay, if need a prescription make them pay for that too, if you drive them to drink really make them pay, drive them into debt, make them pay. If we go to war on a whim just send them abroad, make them pay.

This, folks, is about the measure of it. It now has a name and a human face - Lisa Taylor.

Share this post


Link to post
Share on other sites

I liked the trick they did when you got near/over your overdraft limit then they sent you a shiny credit card with a wopping great APR. If you aren't from a well off family there is no other choice than debt as a student.

Share this post


Link to post
Share on other sites

I suppose the banks reasoning is that no one forced these people who are massively in debt, to sign on the dotted line and then squander it all away (although not in this girls case)

But isn't the point that the banks are and have been aggressively lending, in many cases their policies are just as irresponsible as the behaviour of those who get into debt in the first place and all the payment protection they push on people alongside the loans bumps up their profits even further.

LL

Share this post


Link to post
Share on other sites

while this is a desperately tragic story, I can't help feeling that other factors were likely to also be in play here.

After all, the debt was not huge, and they were only asking for an installment, not the full amount.

Further, if they were asking for a repyament on a student loan, this will have been dependent on and relative to her earnings. Add to this the fact that as a graduate, she must have known many other graduates in the same or similar financial position... surely all these contacts were not suicidal over it.

I reckon this was a straw that broke the camel's back on top of many other personal factors, rather than the sole cause.

I am sure you are correct in thinking it isn't just the money..after all many students are in that amount of debt. No it wasn't just the money...

it was tha fact that 14K is a huge amount of money to a young single person trying to find their way in the world for the first time who has probably been bought up not to get into debt

It is the fact that the scumbags who bought in these loans are now sat in well paid jobs having had their education payed for them

The same scumbags who preach to the rest of society that if they aren't living in their own house and earning enough money to support a family then their must be something wrong with them

The same scumbags who keep promising these young kids the earth with better paid jobs, better standing of living, better incomes and then...the reality hits home...the reality is actually that many youngsters will leave university with massive debts and the only job they get will be one they could have got four years previoulsy without a degree.

The same scumbags who preach about how great life is in Britain today while the gap between the rich and the poor gets wider

The same scumbags who have pulled the rug from under many, many young people today ruining any chance they have of a decent life while at the same time telling everyone how life great is.

No it was just the money...it was the utter desperation, unfairness, unjustness and frustration of a young graduate today suddenly realising the land of milk and honey spouted by Blair only exists for the chosen few and everyone else can just shut up, get on with it and stop moaning.

This won't be the last suicide like this...it will take a few more before people wake up and realise what a selfish, greedy thoughtless country Britain has become.

Share this post


Link to post
Share on other sites

Join the conversation

You can post now and register later. If you have an account, sign in now to post with your account.

Guest
Reply to this topic...

×   Pasted as rich text.   Paste as plain text instead

  Only 75 emoji are allowed.

×   Your link has been automatically embedded.   Display as a link instead

×   Your previous content has been restored.   Clear editor

×   You cannot paste images directly. Upload or insert images from URL.

Loading...
Sign in to follow this  

  • Recently Browsing   0 members

    No registered users viewing this page.

  • 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%



×
×
  • Create New...

Important Information

We have placed cookies on your device to help make this website better. You can adjust your cookie settings, otherwise we'll assume you're okay to continue.