To not be surprised that people get in debt..

[Kasterborous]

When the banks are always sending out applications for credit cards. They make it so easy to have lots of credit cards which can give people a sense of being able to spend more money than they might otherwise. I'm not saying credit cards are a bad thing they can be very useful but I think the banks make it all too easy for people to get in serious debt. Then you get all these pay day loan companies charging horrendous amounts of interest.

I constantly get applications sent to me for credit cards - I haven't worked for 14 years as I care for my disabled DD.

DH approached Virgin to transfer a balance from a credit card which we had used to buy some electrical goods onto one of their interest free deals. They agreed the balance transfer and asked him 3 times if he wanted more money thanhe was already borrowing. When he said "no thank you" the chap asked "are you sure?". I hasten to add, we could have paid off this credit card balance from savings if necessary, but chose to use the interest free option.

Am at Westfield with dd. Money is clearly being spent hand over fist yet very few people look well heeled here. I do wonder how they do it and how they an have so much disposable income.

I thought we'd seen the end of mail shot marketing for credit cards and loans when the finance industry was on the brink a few years back.

Seems the banks have learned nothing from their lax and toxic lending policies

YANBU. It's greedy and irresponsible of the providers, just like advertising other negative behaviours like drinking or smoking to excess.

I live in a pretty deprived area, the high street is mainly pound shops, pawn shops and charity shops. There's also a loan shop with a big sign in the window "benefits taken into account for loan applications".

A few months ago I worked with an online credit card/loan company, and was horrified at the shocking practices they used - e.g. when someone tried to make an overpayment against a loan, they would also be shown how much more they could still borrow.

It's so easy to borrow money.

Most people my age (our social circle) will have a very low mortgage or paid it off. I'm not 50. I don't know anyone socially who rents.

So that frees up a good £1200-1,500 per month.

Again most of our social circle are double earners. none of them needed paid-for childcare as they had 'baby boomer' parents who retired on significant pensions who were able to provide free and willing child care.

Council tax has been held for at least 5 years in this borough.

Children are now out earning and paying into the household pot.

None of them are paying uni fees.

My social circle are still reasonably affluent - parental inheritances, relatively well paying steady jobs, have never had the need to constantly move house. Also all of my social circle work on cash not credit.

And, now I think of it - all the men are 'in trade', therefore all house renovations were at trade prices with skill swapping. Saves a fortune. plus of course being self employed with a good accountant - you never pay anything but minimal tax.

Individuals are far more responsible for the debt they are in than the companies that offer them.

While I agree that credit card companies have a responsibility towards people who do not have the ability to understand what they are getting into, I also don't think it's their place to patronise and assume that people can't understand, or don't have people who can help them.

It might be tempting for people to take out loans or apply for credit they can't afford, but it is their own responsibility.

I find it tempting to eat copious amount of chocolate and cake when I see it in the supermarket, but it would be my fault if I ended up fat, not the supermarkets. It's the same principle.

Kim, I think the future does look ok if you've not got your heart set on buying. I'm a professional woman in late 20's and I'm struggling...but this is largely down to being alone. If I had a partner earning what I did, allowing me to halve living costs, I'd be laughing. I know I'll never buy because I will never have a deposit.

Utilities, bills, taxes....they're the things that make living so crippling; "stuff" can be bought cheaply enough still if you're willing to shop around.

Incidentally, has anyone read Adrian Mole and the Weapons of Mass Destruction? It's funny watching him accumulate such huge debts, e.g. store cards and cashable cheques...but it's quite scary to imagine having all that credit thrown at you!

YANBU.

I work for a debt collection agency. They're so tempting for people who are struggling, the fact they're still being sent our in a recession is awful.

Secondly, fraud is a real issue with these. Pre filled and sent to an address, but not everyone realises just how important it is to forward your mail.

I speak to people day in day out who took out affordable credit. Recession hit and they have nothing.

Pay day loans are awful, I know the user signed up for the T&C, but my heart sinks for my customer when I see the original loan amount and then the total outstanding.

I'm currently working my way out of a lot of debt. I will never own another credit card, payday loan or any form of credit. Ever. I've seen how easy it is for it all to go wrong.

Why, in general, are people passive about receiving intrusive targeted marketing through the post? Eg someone whose son has received Vanquis marketing for 2 years or maybe the mother who cares for her disabled DD who has received applications for credit despite not having worked for 14 years to name just two from this thread.

People - take control! You can stop this. Ring up their customer services and STOP it. They have to do this.

And whenever you order anything, make sure you are not 'enabled' when it comes to marketing mailshots and email etc.

Stuffez - my life HAS been like that for almost the last 10 years. Still doesn't mean I'm daft enough to use credit...

Two things - I think it's probably much easier to spend mpney you haven't saved.

After four hours at Westfield today (and yes my feet hurt) I said on the way hhome to dd 15 - "isn't it funny how we usually shop at Kingston which doesn't have such expensive shops as the ones here but the people look better off". Dd's rreply "yeah well, no-one got rich without being a boit frugal".

Proud and glowing, moi - polishes nails onn Debenham's cardi .