nero120 Posted February 27 Share Posted February 27 (edited) 3 minutes ago, Sackboii said: Nah, a lot of them will just get bailed out or expect to get bailed out with their debt written off. I don't know, these are soft middle class types, not rough families living on council estates used to trouble. Money troubles often lead to family break ups, I've seen it happen. Edited February 27 by nero120 Quote Link to comment Share on other sites More sharing options...
DownwardSlopingPlateau Posted February 27 Share Posted February 27 1 minute ago, Nick Cash said: Did you compare running costs to more expensive models? Nope. I bought it purely as a piece of kitchen art. Looks lovely next to my vase of twigs. 😉 Quote Link to comment Share on other sites More sharing options...
Sackboii Posted February 27 Share Posted February 27 1 minute ago, nero120 said: I don't know, these are soft middle class types, not rough families living on council estates used to trouble. Money troubles break families up, I've seen it happen. I don’t doubt that, but last time around an IVA was a way out for many. I bet they’ll be on the increase, if indeed they can still be had.. Quote Link to comment Share on other sites More sharing options...
DownwardSlopingPlateau Posted February 27 Share Posted February 27 5 minutes ago, Sackboii said: Nah, a lot of them will just get bailed out or expect to get bailed out with their debt written off. I used to work for a credit card company. Believe me, you have to be in very, very deep do-do (i.e. essentially bankrupt without a penny to your name) before they will write-off your debt. Quote Link to comment Share on other sites More sharing options...
Social Justice League Posted February 27 Share Posted February 27 There's no such thing as a 'middle class' these days. Just working class debtors. Quote Link to comment Share on other sites More sharing options...
hurlerontheditch Posted February 27 Share Posted February 27 13 minutes ago, DownwardSlopingPlateau said: I used to work for a credit card company. Believe me, you have to be in very, very deep do-do (i.e. essentially bankrupt without a penny to your name) before they will write-off your debt. Ricki wrote of billions of of the country's money om covid loans at the drop of the hat. People will now expect the same Quote Link to comment Share on other sites More sharing options...
winkie Posted February 27 Share Posted February 27 3 minutes ago, hurlerontheditch said: Ricki wrote of billions of of the country's money om covid loans at the drop of the hat. People will now expect the same Loans he had no intention of ever chasing, setting a precedent, just goes to show how much people's hard earned money is now worth.....then you wonder. Quote Link to comment Share on other sites More sharing options...
MARTINX9 Posted February 27 Share Posted February 27 2 hours ago, msi said: F*** 'em. You were warned, you didn't listen to wrapped up in your Guardianista / Gbeebies world view thinking 'others' would pay the bill you run up. I'm out of patience. Has Lee Anderson hacked your account? Quote Link to comment Share on other sites More sharing options...
Frankie Teardrop Posted February 27 Share Posted February 27 BoE will lower rates in an attempt to save the indebted. The US wont lower rates as their economy is motoring along in top gear. The pound will utterly collapse and imports will be hugely inflationary. The UK becomes Argentina (without the natural resources). The IMF comes to the rescue but takes one look at the books and just laughs and says "no point, auction it all off" Quote Link to comment Share on other sites More sharing options...
Stewy Posted February 27 Share Posted February 27 3 minutes ago, Frankie Teardrop said: BoE will lower rates in an attempt to save the indebted. The US wont lower rates as their economy is motoring along in top gear. The pound will utterly collapse and imports will be hugely inflationary. The UK becomes Argentina (without the natural resources). The IMF comes to the rescue but takes one look at the books and just laughs and says "no point, auction it all off" And in reality... ...the BoE will drop rates due to deflation being obvious even to them. Quote Link to comment Share on other sites More sharing options...
Social Justice League Posted February 27 Share Posted February 27 20 minutes ago, Stewy said: And in reality... ...the BoE will drop rates due to deflation being obvious even to them. Trolls gonna troll. Quote Link to comment Share on other sites More sharing options...
msi Posted February 27 Share Posted February 27 27 minutes ago, MARTINX9 said: Has Lee Anderson hacked your account? HAHA 30p Lee will suddenly find what his 'value' is worth.. Quote Link to comment Share on other sites More sharing options...
nero120 Posted February 27 Share Posted February 27 32 minutes ago, Frankie Teardrop said: BoE will lower rates in an attempt to save the indebted. The US wont lower rates as their economy is motoring along in top gear. The pound will utterly collapse and imports will be hugely inflationary. The UK becomes Argentina (without the natural resources). The IMF comes to the rescue but takes one look at the books and just laughs and says "no point, auction it all off" Lol I'm sure any country's economy would be motoring along if they were running deficits to the tune of $trillions! 🤡 BoE will not lower rates unless inflation comes down. They will not risk a currency/sovereign debt crisis to bail out pleb debt slaves. Quote Link to comment Share on other sites More sharing options...
DownwardSlopingPlateau Posted February 27 Share Posted February 27 57 minutes ago, Stewy said: And in reality... ...the BoE will drop rates due to deflation being obvious even to them. And in reality... ...the BoE will hold rates due to prolonged inflation being obvious even to them. Quote Link to comment Share on other sites More sharing options...
Unmoderated Posted February 27 Share Posted February 27 2 hours ago, whitemice said: Being born into financial security gives them a different outlook on risk. We spend like poor people, while they spend like rich people, regardless of our wealth. Have discussed people in this scenario at length with friends (all finance backgrounds but from fairly normal, lower middle class families). People from a welathy background can afford to take much bigger risks that we can so they also put themselves in a situation where they can reap much bigger rewards. Quote Link to comment Share on other sites More sharing options...
spyguy Posted February 27 Share Posted February 27 Only Fans. Quote Link to comment Share on other sites More sharing options...
Si1 Posted February 27 Share Posted February 27 54 minutes ago, Unmoderated said: Have discussed people in this scenario at length with friends (all finance backgrounds but from fairly normal, lower middle class families). People from a welathy background can afford to take much bigger risks that we can so they also put themselves in a situation where they can reap much bigger rewards. Sort of. But the true wealthy just gave everything in the Rothschild Trust which is just a 65/35 fund. It's the multi generational tax efficiency that counts. Quote Link to comment Share on other sites More sharing options...
TenYearToGetMyMoneyBack Posted February 27 Share Posted February 27 (edited) The irony of this being written by a mortgage broker, one of the "professionals" who as caused many people's problems. When I applied for a 3 x salary, 56% LTV mortgage back in 2011, the guy at the bank spent over an hour writing a (*rse covering ?) thesis on why he was recommending the product. Then he said he was knocking a year of the mortgage term saying "if there is any chance this isn't paid off by the time you are 65 I have to write another two pages justifying that". I wonder if Mr Mortgage Broker has records of why he allowed people to take out mortgages that wouldn't be paid off by 65 ? Edited February 27 by TenYearToGetMyMoneyBack typo Quote Link to comment Share on other sites More sharing options...
LivingWithTheInlaws Posted February 28 Share Posted February 28 I thought back in 2007 that we'd reached debt saturation but thanks to low interest rates, they managed to delay it by 17 years. Quote Link to comment Share on other sites More sharing options...
burk Posted February 28 Share Posted February 28 (edited) 21 hours ago, msi said: F*** 'em. You were warned, you didn't listen to wrapped up in your Guardianista / Gbeebies world view thinking 'others' would pay the bill you run up. I'm out of patience. #blackpilled Edited February 28 by burk Quote Link to comment Share on other sites More sharing options...
burk Posted February 28 Share Posted February 28 19 hours ago, regprentice said: He does say exactly that in the article We see clients on £100k per annum servicing short-term debts to the tune of £2,000 every month. This does not include their mortgage or living costs, these are simply the minimum monthly payments they can make on their credit cards and loans. (For context, the average net monthly income across the UK is around £2,200pcm.) Amateurs. Last time I ever spoke to my eldest brother he was humble bragging about his new Jag. Although I have to admit I zoned out not because I don't like cars but because I couldn't take my eyes off the nearly 5 figure credit card bill pinned to the back of his kitchen door! Outwardly looks successful inwardly he's fkd.......... Quote Link to comment Share on other sites More sharing options...
LetsBuild Posted February 28 Share Posted February 28 21 minutes ago, burk said: Amateurs. Last time I ever spoke to my eldest brother he was humble bragging about his new Jag. Although I have to admit I zoned out not because I don't like cars but because I couldn't take my eyes off the nearly 5 figure credit card bill pinned to the back of his kitchen door! Outwardly looks successful inwardly he's fkd.......... Well, at least he pinned it rather than sticking his head in the sand and pretending it doesn’t exist I suppose. Quote Link to comment Share on other sites More sharing options...
msi Posted February 28 Share Posted February 28 1 hour ago, burk said: #blackpilled @Tw*tMonkey Quote Link to comment Share on other sites More sharing options...
burk Posted February 28 Share Posted February 28 1 hour ago, LetsBuild said: Well, at least he pinned it rather than sticking his head in the sand and pretending it doesn’t exist I suppose. There is that. But at 53 the amount of debt he carries is mindboggling. Bought his house for £275k in 2005 it's valued today at £450k and has a £270k mortgage. #insane Quote Link to comment Share on other sites More sharing options...
clarkey Posted February 28 Share Posted February 28 100k salary is not what people lower down the salary chain think it is . people are conditioned by the media that it’s some sort of fat cat salary where people are driving Porsches . All designed to help the government keep taxes high to pay for the dodgy covid PPE and other misappropriation they would rather you forgot about. Actual take home is about 5.5k a month and lower if you’re making sensible pension contributions . It certainly doesn’t cover private schools anymore. Once you’ve taken out rent in somewhere like London ie 2 k for a 2 bed flat plus transport costs . It’s still a lot of money but it doesn’t run to the same lifestyle it did 5 years ago. Quote Link to comment Share on other sites More sharing options...
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