www.iva.co.uk

Found this very good but scary item about banks and how they watch you .
http://news.sky.com/skynews/xml/article ... 11,00.html

Well they dont need to watch us lot...were all broke, as advertised in local papers and on insolvency websites!! weve come out the credit cupboard and were loud and proud!! LOL

I can't see anything wrong with this article. At the end of the day it's the debtor's responsibility to pay on time. The bank or whoever lent you the money and expects it to be paid back at the right time. The reasons given in the article for late payments are tenuous at best. If one missed payment is OK and only the second missed payment triggers an alert, the creditor is then almost 3 months behind with their payments.

However, the second to last paragraph is not true. I tried to apply for additional credit when all my payments were up to date but always got refused, thank God, and they gave me the reason as over committed.

This article smacks of The Sun or Watchdog type reporting. Picking out exceptions and reporting them as the norm.

Read the article and thought what a load of absolute and very very old news.

Financial Institutions have been doing this ""networking"" co-operating with each other for as long as I can remember.

It is at the end of the day what they should be doing and doing alot more of so as to be more responsible lenders.

I too towards the end was told I could have no more increases as I was over committed but then I would say I was definately over committed what with, earning only about £10,000 per annum and having nearly £230,000 of credit limit accross my twenty or so credit cards [:p][:p]



Just started my IVA as from 12.10.07

Experian is out to mske money and a name for itself in the credit meelee

"Always think outside the box"