The banks loose

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The banks loose

I hate when people moan about being charged for being overdrawn and owing £££'s on credit cards. :mad:

My mum brought me up with the the values of if you don't have the money, don't spend it, if you can't afford to pay bills, cut back on a few things. :rolleyes:

I will never have an overdraft in my life and I will never own a credit card. :)

Also, as soon I start my job and get some income in, I will save 50% of the price of a property in ISA's and high intrest account so my mortgage is lower. :)

It's all about saving. (y)

Happy saving for the next 15years then. Things just don't work out like that.
 
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I hate when people moan about being charged for being overdrawn and owing £££'s on credit cards. :mad:

My mum brought me up with the the values of if you don't have the money, don't spend it, if you can't afford to pay bills, cut back on a few things. :rolleyes:

:yeahthat:

Same here. "Live within your means" was what I was always taught. Sadly, in todays materialistic society many feel they have to have the latest/ flashiest/ most expensive/ blingiest items no matter what they cost. Even if it puts them in debt. That's how shallow our society has become.

However, the banks and credit card companies shoulder a lot of the blame for giving out loans/ credit too easily to people who are obviously incapable and too stupid to manage their own finances. Sadly, it's those who do budget sensibly and don't rely on loans/ credit cards who will suffer when the banks have to bring back charging for all their services.

Moral of the story - if you think you might overspend try cutting back on luxuries or extravagant items. Do this for a couple of months and you'll have a buffer in your savings/ expenditure so if you do overspend you won't need to go overdrawn. Simple home economics...
 
:yeahthat:

Same here. "Live within your means" was what I was always taught. Sadly, in todays materialistic society many feel they have to have the latest/ flashiest/ most expensive/ blingiest items no matter what they cost. Even if it puts them in debt. That's how shallow our society has become.

However, the banks and credit card companies shoulder a lot of the blame for giving out loans/ credit too easily to people who are obviously incapable and too stupid to manage their own finances. Sadly, it's those who do budget sensibly and don't rely on loans/ credit cards who will suffer when the banks have to bring back charging for all their services.

Moral of the story - if you think you might overspend try cutting back on luxuries or extravagant items. Do this for a couple of months and you'll have a buffer in your savings/ expenditure so if you do overspend you won't need to go overdrawn. Simple home economics...

I wouldn't call a family home a flashy blingy luxury item. Yet most people on ordinary incomes cannot afford to buy one or if they can they have to skint themselves for the next 30years.

However I see your point completly. Its like buying designer clothes its total madness :nutter:
 
"Live within your means"
its the best way to live, and long term leads to you having more. it rarely happens these days, its a buy now pay later world.

a 30 year interest only mortgage doesnt seem to bother most of my mates, neither does depending on both incomes when you plan to have kids. thats shows you how badly state schools are doing when it comes to maths.
 
On the subject of easy credit have you seen the latest forum advert...183.2% interest!!! :eek:

intrest.jpg
 
wow, thats an expensive loan!!!!!!!!!!!! :eek:

i think thats the type of loan poor people get, they call it a "provvy loan", its where the lender calls to your home each week to collect your payment in person. i know some people who borrow small amounts like that and pay back more than double what they borrowed. total stupidity.
 
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I've never seen that before in my life either. Must be an error, surely.

Chris, internet banking is the way forward aint it. Quick search of statements.

They owe me £853 since March 2007. Happy days!

dave....just go into your local halifax and ask for a print out. Should do it there and then.
 
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do you ask your local halifax or a head office type place? they owe me a bit


Use this link:

http://www.consumeractiongroup.co.uk/forum/


Read the FAQ's, there's a step by step guide for the stages you NEED to follow. If you don't follow the correct procedure and your claim does go to court there's a good chance you could lose and come away with nothing.

This isn't a case of one letter to the bank and your money back, there's 3 stages in total and in all it may take up to 2 months to get things finalised, longer if the bank stalls and you start court proceedings as all pending and future court cases are now on hold until the final ruling, plus the banks may even appeal!

As mentioned previously I've done this twice with the Halifax, and once with each of my credit cards, even those where I've closed the account!. The process is fairly simple and if you're really stuck there is plenty of free advice on the forum.
 
Happy saving for the next 15years then.

8 Years actually. :p

I worked out, I can save about 5K a year. If I pop it in ISA's I get a decent rate tax free and I can pop the other 1K odd in a high interest account. :) Then come the next year, pop the 1K odd into a new ISA and repeat quite a bit. :)

So I can save 40K (50% of average £80,000 Morecambe house prices) over 8 years and also get quite a bit of interest.

Might see a Financial advisor to see what other options I have. :chin:
 
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