Barclays Reeling From Bad Debts - Rates Up 44%

[Realistbear]

http://www.thisismoney.co.uk/news/article....58&in_page_id=2

Barclays hit by bad debts

This is Money

25 May 2006

RISING levels of bad debt continued to trouble Barclays today, after it reported further growth in the number of customers in difficulty.

BAD DEBT: Consumer debts are rising

While the banking giant said it had traded strongly in the first quarter of the year, it said provisions to cover UK bad debts grew at a similar level in 2005, when Barclaycard charges

rose 44%

to £1.1bn for the full year.

Barclays said earlier this year that it had tightened its lending criteria as it faced criticism in some quarters that its policies had been too lax.

Tick tock, tick tock...................

Edited May 25, 2006 by Realistbear

[CrashedOutAndBurned]

The article says Barclays have been accused to being 'lax' with lending.

When we were looking at mortgages Barclays we're willing to lend just half what the most 'generous' names on the highstreet offered.

So if they're lax, god help some lenders.

Still, it makes no difference if you are a little bit more cautious with your lending as your customer can binge on other, shadier debt products.

[CrashedOutAndBurned]

The article says Barclays have been accused to being 'lax' with lending.

When we were looking at mortgages Barclays we're willing to lend just half what the most 'generous' names on the highstreet offered.

So if they're lax, god help some lenders.

Still, it makes no difference if you are a little bit more cautious with your lending as your customer can binge on other, shadier debt products.

[Guest Winners and Losers]

It wasnt me.

[ʎqɐqɹǝʞɐɥs]

The article says Barclays have been accused to being 'lax' with lending.

When we were looking at mortgages Barclays we're willing to lend just half what the most 'generous' names on the highstreet offered.

So if they're lax, god help some lenders.

Still, it makes no difference if you are a little bit more cautious with your lending as your customer can binge on other, shadier debt products.

So good you had to post it twice.

[padders]

This is one of the reasons it is good that it has become easier to become bankrupt - it will force the banks to share some responsibility with those who take out too much debt.

[Guest Guy_Montag]

This is why our savings rates are going to be stagnant. :angry:

[OnlyMe]

This is why our savings rates are going to be stagnant. :angry:

Actually this is why savings rates in some other countries will be better and some of the savings that are currently in this country won't be for much longer.