Tuesday, Nov 21, 2006

Never-ending debt hits 2m

Daily Mail: Never-ending debt hits 2m

Two million people have borrowed so much they will never escape their debts, experts warned yesterday. These debtors - equal to more than double the population of Birmingham - can only just manage to make their minimum monthly repayments on loans and credit card debt.
How much longer can this fiasco go on, some regulation is surely needed now.

Posted by jonjo @ 08:40 AM (1803 views)
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4 Comments

1. Surfgatinho said...

They're probably just paying the minimum balance by MEWing!!

Tuesday, November 21, 2006 10:16AM Report Comment
 

2. george monsoon said...

New charges will only apply to poor, stupid people says bank

First Debit Bank today defended its new costs for current account customers explaining that the monthly 10 charge will only apply to people who are already completely skint and have wasted their money on stupid rubbish.
Most customers will continue to enjoy all the benefits of free banking said Chief Executive Mike Collins, But if you are poor and your bank statement shows that you have been spending what little cash you have on unnecessarily large plasma TV screens, large gold rings from the Argos catalogue and crisps and fizzy drinks from Lidl, then the new bank charges will apply.
An attractive glossy leaflet has been produced by First Debit Bank, which gives full details of when the charges will apply. Customers who have recently taken out one of First Debits personal insurance policies will automatically become sufficiently poor to qualify for the charge. Anyone consolidating all their loans by borrowing even more money qualifies as both poor and stupid. But it is the decision to charge customers according to their shopping habits that has taken City analysts by surprise. From now on, anyone we spot paying hundreds of pounds for a personalized number plate will be judged to be sufficiently stupid to pay extra said Mike Collins. The same with porcelain figures of rustic shepherds, Ryan Air scratch-cards and anyone wasting their money on a big white limo to go to a nightclub in Croydon.
As predicted a number of other banks have quickly followed First Debit Banks lead of increased charges for the poor. Today the World Bank announced it would be introducing current account charges of $89 trillion to any country with a z in its name.

Tuesday, November 21, 2006 01:56PM Report Comment
 

3. Ticktock said...

George,

Very good. (and not far of the truth)

Viva la revolution.

Tuesday, November 21, 2006 04:18PM Report Comment
 

4. Boarder said...

George Monsoon,

So Funny and yet a hint of truth.

Tuesday, November 21, 2006 04:54PM Report Comment
 

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