Tuesday, Oct 03, 2006

Hoo Boy! More Debt diary...

BBC News: Debt diary: Creditor offer

She gets some good news this week.... thanks to all the exposure from the BBC:

"Apparently after reading my diary, HBOS, the parent company of Halifax and Birmingham Midshires, both companies I owe money too, get in touch. I get a call from HBOS's Head of Specialist Secured Collections. She offers to help out.

She explains how there is no common policy or procedure across the different brands to deal with my request, but HBOS, as the parent company, can help out. She offers to freeze my interest payments until January and even to refund my charges. I am delighted. "

Posted by little professor @ 03:08 PM (1102 views)
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1. Holding Out said...

Presumably she is being bankrolled by other HBOS customers. Sorry about your dad but his guidance and sage council from an early age regarding financial matters doesn't seem to have done you too many favours.

Tuesday, October 3, 2006 03:25PM Report Comment

2. Thesqueeze said...

Obviously It is awful her father died to add to her woes, but should she really be thanking him for getting her into this dreadful mess?

Tuesday, October 3, 2006 03:28PM Report Comment

3. inbreda said...

Wow - I didn't realise that i could lose any more respect for this person, but then true to form, she antagonises me still further.

"Apparently after reading my diary, HBOS...". So - joining the band of journalists desperately trying to influence the market or otherwise abuse their position for their own financial gain, she uses the BBC to force banks to reconsider her debts. Would have been a fairer article all along if she had referred to 'bank A' or 'Bank B'. She could have revealed the real names at a suitable later point - but then that wouldn't have achieved her goals.

"My father has died. He has been the biggest influence in my life when it came to financial matters, showing me how to be financially independent."

Worse news still, my luv, is that if your father was showing you how to be financially independent, he only seems to have achieved the level of you being a financial retard.

Let's face facts - the companies THAT SHE MENTIONS in the article are:
Barclaycard Visa
Birmingham Midshires
Halifax Mortgage
Halifax Visa
Barclays Bank
Kensington Mortgages
Mortgage Express

She must be in debt up to her new baby's nostrils. This is 8 companies. There may be more. How many products (loans, cards, secured, mortgages) does she have between this lot? She says "She also proposes that I fold the credit card debt into a loan I have with them secured against property.". So with HSBC ALONE she has a credit card debt, a loan and a mortgage. Possibly more.

And she still has the arrogance to think that she has every right to make big bucks by doing no work, and should be free to avoid any consequences.

She makes me sick.

Tuesday, October 3, 2006 04:00PM Report Comment

4. Marzipan said...

"He has been the biggest influence in my life when it came to financial matters, showing me how to be financially independent."

OK - she's finally lost the plot. How can you describe yourself as 'financially independent' when you have the bailiffs queuing up outside the door? BBC, please end this pitiful nonsense.

Tuesday, October 3, 2006 04:04PM Report Comment

5. p. o. o. r said...

"I realise how my papa was the real financial advisor in my life and from a very young age and that all I have achieved was because of the good advice and solid gold support he had given me over years and especially during the past three months."

I appreciate her loss in losing her father, however maybe she would not be in this mess if she had taken advise from a profesional and not her father. How can she possible call the advice she has been given by her father as "good advice and solid gold" - i know it is a bit mercenary, but if her father was able to give such good and sound financial advice from his own experiences then I assume that she will be looked after her in his Will...... Problems soon to be solved Sayara.....

Tuesday, October 3, 2006 04:33PM Report Comment

6. waitingfor hpc said...

makes me sick.... i work hard ... SAVE ... and the banks led my money to idiots like this...

Tuesday, October 3, 2006 04:39PM Report Comment

7. magnifico said...

I've been often told by people who borrow gynormous sum of money, hoping in the booming market to continue to finance their lavish lifestyle, that I am a person with no ambition!
They've been on the brink of bankruptcy and came back with hundreds of thousands of pounds windfalls ( ie by selling a corner plot of their property).
Fair play in gloating, but why oh why should I be made to feel sorry when it all goes pear-shaped for them?
After all it's thanks to these guys that the market has been over-inflated, and prudent hard working individuals/ families been priced out or denied hte chance of moving up on the ladder, to accomodate the arrival of another child for example.

Tuesday, October 3, 2006 05:01PM Report Comment

8. d'oh said...

Gotta hand it to her, the one clever thing she has done is "name and shame" the banks involved. No sympathy for her mind you, but it is amazing how fast companies become amenable when their name is getting dragged through the media..

Tuesday, October 3, 2006 05:48PM Report Comment

9. paul said...

Wait until others start quoting Mrs Begg's favourable terms down their local branch and start seeking the same preferential arrangements.

Unlike issues championed by consumer watchdog programs, these are contractual issues between these banks and their customers, and those contracts have legal weight. Nothing to indicate the banks have acted unfairly at all either.

I think the BBC is exposing itself to a legal action from one of the banks here.

Tuesday, October 3, 2006 06:41PM Report Comment

10. bidin'matime said...

She's certainly guaranteed to get the blood boiling on this site - some real feeling here!

I have to agree with Paul - it's a double edged sword for the banks. There's no way out. It's only a matter of time.

Tuesday, October 3, 2006 08:35PM Report Comment

11. talking rot said...

I think she ought to sue her dead father for passing onto to her a financial stupidity gene.

Tuesday, October 3, 2006 11:36PM Report Comment

12. Geed said...

Hey, I posted this first!! ;)

I've posted a comment on the bottom of the BBC page along the lines of; using my licence fee money to fund her pitfull whines, disgusted and get rid of this biased dribble. Suggest you all do the same. She very stupid getting into this mess and very clever trying to get out of it.

Wednesday, October 4, 2006 12:20AM Report Comment

13. Ali said...

Maybe she mentioned all the lenders because she might get the same response that she got from HBOS when they realised they were in the national press being made to look bad............not fair at all, she does make me cringe...........is she the only woman ever to have a baby and have a father die? You borrow money you pay it back, simple economics.

Wednesday, October 4, 2006 09:28AM Report Comment

14. waitingfor hpc said...

well i am getting my money out of the banks named. I am noty paying for her stupidty. There is a market for a new type of bank which only offfers fixed lending multiples & good rates for savers.

Well i hope she pays the price for the advise of a monkey, her father was very stupid. And now she is up to her eyes in debt.

Wednesday, October 4, 2006 10:35AM Report Comment

15. Bfskinner said...

what a shame,

hbos have thought that this was bad publicity for them. unfortunately i would NOT invest with them now as it is clear my hard earned money would not be safe!


Wednesday, October 4, 2006 01:57PM Report Comment

16. Chin1969 said...

See: http://www.thisismoney.co.uk/investing-and-markets/article.html?in_article_id=407235&in_page_id=3

Sayara, 36, a freelance IT consultant says: 'I first went to Julian [an IFA] ten years ago when I was in my mid-20s. I needed someone willing to demystify things for me. Now I wouldn't make a financial move without asking for his help.'

And then: http://news.bbc.co.uk/1/hi/business/5385866.stm

"I realise how my papa was the real financial advisor in my life and from a very young age and that all I have achieved was because of the good advice and solid gold support he had given me over years and especially during the past three months"

... hmm, so which one is it ???

Wednesday, October 4, 2006 02:31PM Report Comment

17. monty said...

Well spotted Chin1969. I've not read all the diary entries yet but I suspect our amateur journo of being a just a little creative with the truth.

How does one go about getting four mortgages secured on three properties? In the first entry she refers to "the family home and my two small buy-to-let properties" but now has mortgages with Birmingham Midshires, Halifax Mortgage, Kensington Mortgages and Mortgage Express. I've heard of this in the USA but can you do that in the UK? Legally?

I wouldn't blame her papa for being a bad teacher (unless in next week's diary entry we find out he's left her with a MEWed-up-to-the-hilt house and little inheritance tax problem to solve.) She sounds like a really bad pupil trying her luck with the lenders to bail herself out of an entirely predictable cash flow crisis. I'm sure that Julian the IFA has made a wad of commission out of her and is currently sunning himself on the deck of his new villa.

Thursday, October 5, 2006 09:36AM Report Comment

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