How about this for complete madness? My son has just shown me a letter he received this morning from a credit card company - one of my creditors!! He is 18 at a State Six Form College- evidently he has been pre approved for a card with a £2000 limit on it. He has written a reply to the company which leaves them in doubt what he thinks of the idea! Seriously, this is madness and should be made illegal. Anyone else had this sort of thing with their children?
Its Crazy, I was maxed out on other cards yet got approved for a new card with a 24k limit. At the time my house price was rising I could afford the minumum payment eveything seemed great... then one day it hits you.
At school we used to do a subject called guidance that was to prepare you for adult life. If covered health matters, careers, advice, even how to wire a plug, etc. Just wish it had covered financial matters. Perhaps it is time to include on the national ciriculum
Phil
Anyway David, I have been following your posts with interests, hope you on an up day. I seem to be rotating between up and down. I have just approved my final proposal and it should be submitted to creditors on Monday, then the wait for the creditors meeting.
Interest!!! If there is a PhD student on here they have a good basis for a thesis on worry! Not so bad today thank you- I am with Melanie and have complete trust in her. She has given me a budget which, if accepted, there is no reason whatsoever why it should not be maintained. I am very fortunate compared with some on here; I have a public service pension which can never go down. Unfair on others I know but that is the position.
Although they were naive giving me too much rope, it was ultimately me than hung myself. I take full responsibility. I will hopefully get a second chance and won't mess up again.
Today is the first day a creditor hasnt been paid, I am scared of the harressment, not for me but for my wife. I have changed the home phone number, just worried they will ring at work and say something to the receptionist
Melanie seems great, I chose David Mond as they are based very close to me. Have spoken to 4 different people in the company and all have been great. My proposal also seems very fair and I WILL manange it (assuming my employed is maintained).
You and you wife seem to have a great relationship, I'm sure you will be ok.
I know you take full responsibility - good- but nevertheless if one of them had just said "hold on a minute what about xxxx" things may have been different. After all creditors are supposed to look at credit reference agency files. Glad you have changed your number; we had it for awhile but my wife's mackaw sorted them on the phone - he sceams! We get letters now which I pass to Melanie. My wife is very worried but the support you and yours will find on here will help you. Best of luck to both of you!
I am a great supporter of educating our young people about debt from an early stage. This should be built into the National Curriculum, and I for one would be happy to give up my time freely to visit schools and talk to students about proper financial management.
I agree to a degree with what you say but ultimately I am afraid the buck lies with us with regards to how much we borrowed. We are Human Beings and make big mistakes and it is down to us to say no rather than the Creditors making the decision.
I agree with Rayb on this one. While the creditors shouldn't have lent me as much as they did, I shouldn't have applied for it either. I can't completely blame the creditors as I have to take my share of the responsibility.
Melanie, I am going to ask my son to mention your kind offer to his school Head when they return - see what happens. If you come up here you will be able to meet - the mackaw! David
As a secondary headteacher I can let you know that all teenagers should be receiving financial guidance as part of the National Curriculum now. As with all new things, it takes time for some schools to get it up and running but there are some brilliant resources and speakers out there for schools to tap into. Maybe someone like Melanie would also open their eyes to how easily things can go wrong.
