How to solve it? Ban credit cards? Ban car loans? How do you differentiate between someone for whom the debt was sustainable and has fallen on hard times and those who were reckless with their credit cards. One deserves help, the other doesn’t IMO.
Education.
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Originally posted by @Rallyboy
Education.
That will work to a point, any then the new 8d 126k tele will come out on 0% finance and off we go again.
agree that there needs to be help for those that fall on hard times, but also we need to change the way people are taught to view money and debt. Yes i would ban credit cards. Make banks give fix term loans(fixed interest rates no matter your earnings or credit history). They now refuse most poor people a loan and then offer them a credit card, with a limit of 3-4 times the amount of the requested loan. This is done deliberately to keep people in debt.
It is vulgar the way that banks and credit card companies dress up exploiting people as doing them a favour.
The last thing they want is people who pay off their card bill every month, so they have no interest (!) in assisting people to manage their finances.
People need to be sharper.
Anyone who takes payday loans etc are diving into one huge pool of shit - but it looks so cheerful on the adverts, it’s just nice people helping you out because they care.
About profit.
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It never rains…
To be fair, payday loans serve a purpose in society, as do credit cards and other finance lenders. However, it’s all about using them properly.
People do need to be sharper, but alot aren’t interested?
When half of Labour are accused of being Tory lite, I thought it only referred to policies.
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Is that really a story?
Senior MP dealing with vice and drug legislation alleged to be caught buying drugs off prossies and rent boys who he fucks in a house financed by the tax payer?
I see no public interest there - file it away with the last fifty years of child-rapists who were protected.
Sometimes you have to wonder what sort of country we live in. 
And let’s not forget the role Vaz played in keeping child-raper Lord Janner out of prison.
The system is rotten to the core.
payday loans do nothing except create more poverty for any desperate enough to use them. Anyone who has ever profited from this disgusting practice should be hung, drawn and quartered.
Serve a purpose? If keeping people in poverty is your purpose.
Every day I see the effect that consumer debt has on people, and frankly a lot of it sickens me. Payday loans especially are wildly dangerous, because they don’t take into account the ability of people to repay. Even as an employee of a major bank, I can’t deny that lending options are there pretty much solely to make money from people. However, major banks at least vet their prospective customers to assess whether they can repay what they borrow and whether they should have money lent to them. Payday loan companies don’t give a fuck, and they will lend to pretty much anyone, albeit some of the larger ones such as Wonga do use credit checks to turn away some of the worst offenders and those least likely to repay.
It’s indicative of the system that we live under that consumer debt is just the norm now. Boomers built an aspirational society entrenched in the deepest values of Capitalism, which has been exploited time and time again by huge companies who milk every penny possible from it, at the expense of everybody else. It’s no wonder that we have so many billionnaires on the face of this planet now considering how easy it is to exploit people provided you’re the first one to think of a way to do it. I truly hope that the next 30-40 years brings in a new era of personal finances where we won’t be reliant on consumer debt to pay our way through life, but unless something radical happens soon I can’t see that changing…
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Glad someone has nailed him for something. Doesn’t take too much imagination to work out why he and Janner might have been mates.
Debt is the system.
It took me a long time to work that out; socially oriented policy can fox you. Neoliberalism, naked as it is, helped lift the blinkers. We’ve seen debt occupy more areas of our lives.
The mortgage is seen as the acceptable one. Most people don’t even look on it as a debt, unless they get into a situation where it cannot be paid. For me, it’s arguably the worst. Looking at it _very _cynically, you’re signing a slave contract for something that should be a basic right, and was seen as such by previous governments.
Debt has become ubiquitous, and has infested every area of life.
Viewed dispassionately, the concept is the exploitation of those with no power being exploited by those that do. The exploiter gets to live at the expense of another’s effort. The exploited are kept in their place.
It is a system of control that should be illegal, which makes it all the more disappointing that politicians have allowed it to conquer almost every area of life.
“No one can be told what the Matrix is. You have to see it for yourself”
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This is interesting. Half the country has got your number, traditional media.
A majority of the British public believe the media is deliberately biased against Jeremy Corbyn and seeking to portray him in a negative light.
Just 29 per cent of British adults disagreed that the “mainstream media as a whole has been deliberately biasing coverage to portray Jeremy Corbyn in a negative manner” when asked by pollsters YouGov.
51 per cent of people agreed that coverage had been deliberately biased and while 21 per cent said they were not sure.
Pilfered from Facebook.
Could she be Labours next leader? Assuming Corbyn wins and she does well for a couple of years.
Female, impeccable past, great debater and highly intelligent. Would seem the perfect person to take over from Corbyn, a year or so before the next election.
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I could see Chakrabarti as Labour leader, although I do think that her public perception is as a bit of a SJW as opposed to a politician. Still, she would be fresh blood and she has the right ideas so it could well work. The interesting thing will be whether she takes a post in the Shad Cab which would be a good indicator of where she sees herself. Would be a good person to carry on from Corbyn should he decide that he doesn’t want to fight the 2020 election (if it takes that long to happen).
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This was a debate on Saintsweb where I had the same opinion as you, but many, MANY people gave me examples of when they used them for their proper purposes, for example, when they literally could not have afforded to heat their home due to a busted boiler and had to use it as a bridging loan.
Unfortunately you have 3 types of people who tend to use these loans. Those who use them for their proper purpose, those who are too stupid to have control of their own money, and those who are too irresponsible to have control of their own money. The last 2 are a big part of this population.
I’d worry for Chakrabati as leader, mainly because of the number of racists we have in the Labour strongholds of the North.