It appears the tone of many posts have been quite bitter over the last few days, towards the industry the banks and IPs.
This is something i am finding difficult to understand, surely when you take on credit you intend at that time to fully pay it back, i certainly did. However situations change or for whatever reason we find we have bitten off more than we can chew.
And i assume it is for that reason that we have all stumbled upon this forum, as BOL has already said despite a change in my circumstances some of us who are in employment and are able, still want to pay back as much as we can to our creditors, hence why we have choosen Iva's, those who find due to circumstances beyond their control that they no longer have any disposable income choose bankruptsy.
This forum has helped me tremendously over the past 16 months, surely thats the whole point. those who are finger pointing and quick to blame others for their financial misfortune really need to look closer to home.
kat
IVA accepted 6th May 2011, Full and Final accepted 17th April 2012.
The support the forum provides is a lifeline for many people. At the end of the day we are all in the same boat trying to find our way out of debt in the best way we know how and with the help of our friends.
There is definitely an emotional roller coaster though and I think anger at the lenders is part of the process...I went through it for a short while. I may have signed up for a credit card or two but I never signed up for 46% interest! LOL!! I hope everyone else can move on like I did as carrying around that negative energy is destructive...acceptance gave me space to correct my wrong and move on with my life.
Virgin MBNA. New rules mean that if you don't accept the increased interest rate you can return the card and pay down the balance at the old rate. I'm really pleased that's changed!! I wasn't using my card but couldn't do anything to stop the rate going up.
BOL- i thought it might be them MBNA - they tend to have a reputation for massive increases in intrest rate. Bet your glad you managed to get rid of them ??
I, too, had a chunk of borrowing from MBNA -- at the hiked rate I would never have actually paid it off, just being able to keep up with the interest!
Kat, I think much of the bitterness being experienced at the moment is not confined to us "insolvents", but an expression of the mess the financial world is in generally, the feeling being made worse by the continual payments of Monoploy Money bonus's to the high ups in the financial sector, whilst us "mere mortals" continue to have to tighten our belts.
My opinions are merely that .. opinions based on experience. Always seek professional advice.
IVA Completed 23rd July 2013 .... C.C. 10th January 2014
I totally agree Foggy - although unpopular we have to remember that it is only a few banks that took public handouts - and for the ones that didnt should be free to offer the "going rate" to whoever the shareholders choose. No one could argue about their irresponsible behaviour, but we have to remember their sole aim is to provide a finanical service at cost to make a profit
Last edited by ginger3232 on Tue Jun 05, 2012 10:30 pm, edited 1 time in total.
I too had a virgin card, it seems once they see your on the slippery slope they hike up their rates therefor ensuring an uncertain situation becomes an impossible one. i would never have repaid my debt to them with the interest that was being charged, and i agree in many respects that is enough to make you feel angry almost robbed in fact, however had i not gotten myself in so deep with all of my credit cards then the likelyhood is that my interest rates would have remained managable.
kat
IVA accepted 6th May 2011, Full and Final accepted 17th April 2012.
Kat68 - It shows how quickly a managable debt suddenly becomes unmanagable, often through life events, divorce,death,illness etc etc, what most people on here have done have accepted responsiblilty, However occassionally you get one person who blames and gets angry with banks/goverments and anyone they can think of, but doesnt look are their own spending habits.
Last edited by ginger3232 on Tue Jun 05, 2012 10:46 pm, edited 1 time in total.
font size="1" face="Verdana, Arial, Helvetica">quote:<hr height="1" noshade>Originally posted by ginger3232
Kat68 - It shows how quickly a managable debt suddenly becomes unmanagable, often through life events, divorce,death,illness etc etc, what most people on here have done have accepted responsiblilty, However occassionally you get one person who blames and gets angry with banks/goverments and anyone they can think of, but doesnt look are their own spending habits.
One person that blames anyone they can think of? Who is that statement aimed at i wonder? May i suggest some people on the forum read posts and replies correctly before giving out judgemental and, trite statements, Regards to all iamfubb2[:)]
I think in the beginning there were a few times where I thought, sod 'em. We haven't got what they want so they can't have it. But then.....there was a little voice in my head asking me how I would feel if I'd lent people money and they decided they weren't going to pay it back. Then there was also my Gran, she may be short in height but oh lordy, the Matriarh is our family is one powerful lady. She instilled in all of us from an early age the pride in being able to pay our bills, to provide for our families and also have the occasional tipple down the pub.
I was so ashamed when I told her that my husband had had to go down the IVA route. The look on her face said it all but she was pleased we were trying to sort things out and at least pay something.
I'd rather face my Dad and tell him he has another Grandchild on the way (not yet!) than have to tell my Gran I'm not paying my bills!
I don't think Ginger was making any pointed comments. When you talk to as many people in debt as you do on this forum, you see all sorts of attitudes towards creditors and responsibility and debt in general. That's not to judge anyone, but there are differences of opinion. Thank God...it'd be a dull forum if we all agreed all the time [:)]
font size="1" face="Verdana, Arial, Helvetica">quote:<hr height="1" noshade>Originally posted by Broke of London
I don't think Ginger was making any pointed comments. When you talk to as many people in debt as you do on this forum, you see all sorts of attitudes towards creditors and responsibility and debt in general. That's not to judge anyone, but there are differences of opinion. Thank God...it'd be a dull forum if we all agreed all the time [:)]
I agree [:D]
My opinions are merely that .. opinions based on experience. Always seek professional advice.
IVA Completed 23rd July 2013 .... C.C. 10th January 2014
Seen this early - decided wasnt going to comment directly, as it could have been seen as a defensive quip, as the theme was certainly taken out of context.
The ironic thing about this is am sitting here trying to finish a a assignment on Behaviour change stategies [:D]
Last edited by ginger3232 on Wed Jun 06, 2012 2:45 pm, edited 1 time in total.
font size="1" face="Verdana, Arial, Helvetica">quote:<hr height="1" noshade>Originally posted by ginger3232
Seen this early - decided wasnt going to comment directly, as it could have been seen as a defensive quip, as the theme was certainly taken out of context.
The ironic thing about this is am sitting here trying to finish a a assignment on Behaviour change stategies [:D]
Taken out of context? Care to expand on that? Think it's about time we agreed to disagree and put this one to bed. Wouldn't want anyone getting into trouble with the administrators for flying off the handle. Regards iamfubb2[:D]
