Afternoon Doom

[BlasterBates]

Looking at over debted Britain we now seem to be in the

end game

First it was cheap mortgages, then expensive mortgages then credit cards, now the overdrafts are building.

[Platypus]

Looking at over debted Britain we now seem to be in the

end game

First it was cheap mortgages, then expensive mortgages then credit cards, now the overdrafts are building.

Ha ha! The last time my bank account was in credit was in 1990. Doomed !

[milanbenes]

bl__dy h_ll,

did you read this part,

'Next month Barclays makes sweeping changes to its overdraft packages - which it claims will help those who exceed their agreed limits. But banks tend to give with one hand and take with the other. And it is those existing customers who don't break the rules who will bear the brunt of the change, as the authorised rate jumps from 15.6 per cent to 17.9 per cent.

Those who go into unauthorised territory will now be given a "personal reserve", an agreed buffer over and above their authorised overdraft limit (the average buffer is expected to be £250). This isn't free, of course: if customers use it they get charged £22 for every five days, although payments won't be bounced while you're within the reserve limit. Use it for the entire month and the charge is £88.
',



this is going to hit a lot of people, can you imagine, people are going to be paying 88quid a month to have access to a few extra fivers

jeeeeez

this is going backwards not forwards

Time for wages inflation is it not ?

Milan.

[ThomasSoerensen]

just pay the complete balance every month - live within your means

how hard can it be FFS

[milanbenes]

Thomas,

it's not hard for us .Netters, it the other poor sods I'm talking about and there's a lot of them who can't pay it off every month

Milan.

[ThomasSoerensen]

It is easy.
If you don't earn a lot - don't spend a lot.
Unless you live in a 3rd world country and is a subsistence farmer and gets hit by a natural disaster I don't see many excuses for spending more than you earn.

I managed when my salary was 1000 EUR/month before 50% taxes. Not a very jet set life, I admit.

[milanbenes]

yeah but swedens such a socialist country everybody there is happy to be poor, just look at the average age of the volvos they drive, your country is an anomoly

Milan.

[ThomasSoerensen]

yeah but swedens such a socialist country everybody there is happy to be poor, just look at the average age of the volvos they drive, your country is an anomoly

Milan.

are there any Swedes here? BURN 'EM!!!!!

[thunderlizard]

With HSBC, for example, you won't have to pay more in fees than the maximum you are overdrawn by in your charging month, so a £15 overdraft is not going to cost you £50

Oh, so they cap it at 100% monthly interest. How kind of them.

[ace00]

This is all about people being too stupid to look after themselves. Must we constantly legislate so dumb-asses don't hurt themselves?
For example the current OFT investigation of bank charges:
"
The OFT found that a significant number of bank customers did not know how much they paid in bank charges, even after they have incurred the charges. The investigation found that about 1.4 million people pay more than £500 a year in bank charges, hitting "vulnerable" low income earners. More than 75 per cent of people do not know the credit interest rate offered on their account.
"

- stupid.

When you are charged, it shows up on the statement so these people are not or cannot read bank statements.
Want to know the credit interest on current account? Ask. Or look on the internet.
But no, lets legislate so those people who are clever enough to keep their accounts in credit, and/or arrange an overdraft facility get indirectly punished for the utter stupidity of these idiots (or Labour voters as they are also known).
More ranting to follow.