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Christophicus
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#1
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#1
Its all due to the credit card idiots who use one then rake in all the deals and then switch to another one. Sorry bout the pun. How selfish can you get? I'm not moaning or pinpointing anyone in particular but that money could solve many world problems.

http://news.bbc.co.uk/1/hi/business/3935671.stm

That averages out £20000 debt per person, this includes babies.
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Whats_The_411?
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#2
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#2
Oh well
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LH
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#3
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My uncle had a £150,000 debt.
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Cossack2004
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#4
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(Original post by Widowmaker)
Its all due to the credit card idiots who use one then rake in all the deals and then switch to another one. Sorry bout the pun. How selfish can you get? I'm not moaning or pinpointing anyone in particular but that money could solve many world problems.

http://news.bbc.co.uk/1/hi/business/3935671.stm

That averages out £20000 debt per person, this includes babies.
Who is being selfish? Most of the money is merely peoples houses and car repayments......
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jpowell
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So we should all sell our worldly possessions and give it all to charity? Think how much your computer cost, sell it now and give the money to poor people. You have more than one set of clothes , that's just selfish, all you need is a bowl and a robe. Repent your evil capitalist ways now.

I think the problem with the levels of consumer debt currently is that is not sustainable, not that it is immoral.
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LH
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(Original post by Cossack2004)
Who is being selfish? Most of the money is merely peoples houses and car repayments......
yeah - most people's mortgages are £50k+
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EconLou
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#7
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It's not suprising when the credit card companies change the limit of your card without telling you. I know someone who is 18 and has (without her knowing) had her limit lifted to £8000. That's just ridiculous, how on earth is a teenage going to be able to pay that off.
I know people should keep track of their finances but if you expect your limit to be £500 a month your used to knowing when you have got to this level.
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Christophicus
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#8
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Well my parents don't have a mortgage, I give to charity and my mum used to work for the blind.
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LH
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(Original post by Louise_1988)
It's not suprising when the credit card companies change the limit of your card without telling you. I know someone who is 18 and has (without her knowing) had her limit lifted to £8000. That's just ridiculous, how on earth is a teenage going to be able to pay that off.
I know people should keep track of their finances but if you expect your limit to be £500 a month your used to knowing when you have got to this level.
Indeed, my parent's credit limit is £52k.

If they took advantage of that, there's no way they'd be able to pay it back.
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Zapsta
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(Original post by Widowmaker)
Well my parents don't have a mortgage, I give to charity and my mum used to work for the blind.
Yay.
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mobbdeeprob
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(Original post by Lord Huntroyde)
Indeed, my parent's credit limit is £52k.

If they took advantage of that, there's no way they'd be able to pay it back.
There's no credit limit on American Express cards.
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Christophicus
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#12
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#12
Selfish is
sending your child to private school
going on ridiculously expensive holidays
buying mansions when you only live with one other person
buying extremely expensive pc's
buying unnecessary items such as yaughts, boats etc
burning money on that ch4 program
giving £100000 max to a person who lives in a house - bb5
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Cossack2004
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#13
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(Original post by Widowmaker)
Well my parents don't have a mortgage, I give to charity and my mum used to work for the blind.
And? Whats the significance of that, you parents must either be exceedingly wealthy, paying rent (which helps nobody) or living in a council owned house which also helps nobody, people with mortgages also give to charity i think you'll find
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LH
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#14
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#14
(Original post by mobbdeeprob)
There's no credit limit on American Express cards.
But no shops actually accpet Amex

(a slight exaggeration)
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Christophicus
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#15
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No we are very poor actually, we live in a maisonnette.
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mobbdeeprob
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(Original post by Lord Huntroyde)
But no shops actually accpet Amex

(a slight exaggeration)
True. Hardly anywhere on the Continent accepts it either - the commission which Amex charge (for the vendors right of use) is meant to be extortionate.
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Christophicus
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#17
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#17
All i'm saying is that it is an astronomical figure (£1000 billion) considering we live on a small island and our population isn't that big.
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_tobi_coker07_
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#18
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#18
i know someone with a 30,000 debt and its tearing them apart--im neva getting a debt.
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Christophicus
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#19
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#19
I suppose we should blame the retail sector and inflation.
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Cossack2004
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#20
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(Original post by Widowmaker)
No we are very poor actually, we live in a maisonnette.
So what is you're point? it is predominantly the least welthy in society who are the most indebted....what is your point??? People who but mansions, yachts and exotic holidays arent in debt - the two points are utterly unrelated
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