MarkLB

I'm not young per se and secondly there is a huge percentage of the UK population that owe money on credit cards and not all of them fail to 'live within their means'. Naturally paying it off would be a good idea it's not viable at the moment and I'm sure there are folks on these very boards that took some kind of credit card debt with them.

Big D

Not sure of MBNA specifically but a lot of companies will make you clear it if you arent resident as you become a higher risk - i.e. its difficult for them to enforce the debt. Some companies are fine but i didnt tell any of mine, including MBNA, and have mail redirected and paid on line until they were clear.

Jerseygirl

Surely if you cannot clear your CC balance at the end of each month...you are living beyond your means. At least that's the way I was brought up...if you can't pay for it...you don't buy it.

Bob

easier said than done though ain't it.

NinjaTariq

Especially if you have kids...

Jerseygirl

It was the rule my working class parents brought me up by...they never had any spare cash but the thought of owing a debt would have kept them awake at night. My in-laws are the same...you know the type when the gas bill drops through the letter box...they go straight to the PO and pay it.

MarkLB

I think we're going off topic here. Bob is right; it is easier said than done and we don't know everyone's personal circumstances. Thousands of Britains have got into the situation of balances they can't pay off and they include educated people like myself.

Jerseygirl

My parents had 2 children...my in-laws 3. It's today's have now...pay later society that think debt is acceptable. Maybe it is but not to me...I have and would rather go without than go into debt.

Bob

I don't think it's great to be in, but it's pretty easy to rack up when your a student, then things come up like you've got to repair the car etc.

Jerseygirl

I realise that but many people in the UK aren't in debt because of education...it's because they want it all and they want it now. I know due to unforeseen circumstances debt happens...some try their best to work through it. Others don't...they see it as a way of life and just keep on spending.

MarkLB said he was not so young. He made it sound acceptable because a high number of people are in debt.

My parents and in-laws more or less have lived hand to mouth all their lives...but they've never been in debt. Neither myself or my husband went to uni....he worked 60+ hours per week while he studied for an under grad then a MBA...which we paid for ourselves.

Edit: I realise personal debt is probably worse in the US...I referred to the UK because MarkLB mentioned 'Britons'.

scrubbedexpat099

The view from a younger family member who has just graduated:

Student Loans - has not started paying so not an issue.

Upside down on a car loan, trade it in and get an Audi and VW, roll over the debt into the new loan.

Housing - Mortgage 100% plus as they need the extra cash to furnish it.

Just need a job that pays of the minimum... Our well is dry.

shawnodowd

Hi Paul,I cant help but notice you refer to opening a US bank account as recently as 3 months ago. I've been to numerous ones and cant seem to pull that off. What bank did this for you?

S

Ray

What State are you in

Bob

just ask someone higher up than at the till...most will if they know you don't have a SSN...TD banknorth, BoA etc..

shawnodowd

I'm in Cali. most will what? allow me to open an account with no SSN at all? Seems odd. Have you done it personally?