ALISON

Hi Rugbymatt,

I understand your point entirely , and I don't think any of us are trying to encourage people to leave their debts behind. It's just there are some people on here that really get my back up. Unless they've been in this situation then they really shouldn't comment.

And yes, it is the bank/creditors money until the debt has been paid back, but many interest rates are so ridiculously high that you end up paying the bank 3 or 4 times what you originally borrowed.

And before anyone starts telling me that this is made clear BEFORE you take out the loan, I know. But for some this is the only option. The debt just gets bigger and bigger and I can really understand why some people see no alternative but to up-sticks and move from the UK. For the MAJORITY I really sympathise.

I say majority because there are always exceptions, such as people who purposely take loans/max credit cards because they know they will be leaving the UK!!!

DrWho

Not true...

As I said earlier in this thread...

rugbymatt

Absolutely, but the second you register for a phone line then your name is passed through credit agencies and they have you!


My oldest school friend is a securities consultant for the major high street banks and the information he can access is shocking!

Sunny_Glesga

look at it this way, the money that Me, possibly you and other people borrow mostly dont even belong to the banks! its actually customers money in their accounts that get borrowed by customers. So lets say you decide to say to the bank i have had no less than £1000 in my account for many years so the next guy that comes along and borrows £1000 from you i would i am happy to give to you ( the bank) a percentage of the interest you will get from this guy for my £1000 you just lent him, what do you think they would say?

Also i would like to mention for many years ( not so much now) if you put money into your bank account and lets say you had a direct debit coming off the next day if you didnt let them know that you needed the money to go to your account immediately then the direct debit would be returned as you didnt have the money in your account! WHERE WAS THAT MONEY DURING THE 3 DAYS? i will tell you where it was! laying in a bank account gaining interest for THE BANK!

SO, IS IT THEIR MONEY? ARE THEY FAIR? like F***


No shouting here, just to highlight points


just my 2 bob`s worth

Rob Morton-Jone

I have a friend who had debts due to a nasty divorce settlement and left the debts behind to start a new life in Oz. No come back at all and the debt was over 10K !!! This was over 2 years ago now

I would be very suprised to hear if the banks/creditors will come over to Oz for that little amount. What can they do? Fly her back to the UK???? Think not!

Im not one for encouraging that sort of thing but good luck to her.....she has a new life now

Sunny_Glesga

Just thought i would mention that i receive a leaflet through my door today! i didnt ask for it but it offers a great value loan with a percentage rate of.......... wait for this





















177% APR

ALISON

My point exactly! For some people it is impossible to get low APR loans, so this is the sort of thing they have to go with. It's a disgrace that companies should be allowed to get away with this! I have received a £30 charge from NATIONWIDE today because a direct debit made me 26 PENCE overdrawn!!!

Rob Morton-Jone

Rip off Britain!!!!!!!!!!!! :scared:

I can now totally understand why people leave behind there debts in the UK!

Sunny_Glesga

Exactly! And if it had went the other way and they didnt honour the direct debit they would have still chaarged you £30+ for Admin costs! just got one for £39 cause i was a few pence short on that day Even though the money went in that day they said that the direct debit comes off at bank opening times and wages went in minutes later.

They will get you one way or another!

SO! GOOD LUCK TO ALL whatever you decide to do,

DrWho

You can do something about this... and get your money back...

Check out this link to see how... There was also a thread on here a while back about how to do this...

Good luck...

ALISON

Hi Rodders,

Thanks for that. I'm actually in the process of reclaiming my bank charges at the moment...keeping my fingers crossed!!!!

Ian & Sharon

Wow, how good is that link. Very interesting

northernbird

Its all a very different world we live in now. Materialistic one at that. Years ago when I started out we saved up for stuff, now you just wack it on the credit card and worry about it later. My brother owes nearly 20k pounds, buying stuff for the house, clothes etc. A lot of the time getting into debt is a choice you make not something that is thrust upon you by accident and thats not me getting on my high horse, just stating an opinion. To me morally its wrong running away from your debts but thats a decision made by individuals and its up to them what they do.

Sunny_Glesga

Dont you think its morally wrong for these Banks/Loan Companies/CC Companies to rip us off like the percentage rate i mentioned in previous post?


Just an opinion of-course


No matter what happens in life i believe what goes around comes around, just my opinion

northernbird

Yes I do think its morally wrong but you don't have to take the loan or have a credit card, they are not compulsory.