www.iva.co.uk

Alot of people have debts, but why does the goverment have to bail out banks.

I went in to an IVA, some go BR, but the goverment never offered to bail me out and the rest of us, and i pay about £500 a month to the goverment in tax, worked all me life and not once did they help me out, so why are the helping the banks out.

I am interested on this and looking for answers, any one have any ideas

No idea's but fully agree with you,also when I borrow from a bank it cost me money,how much are we the taxpayers going to charge the banks for them borrowing our money???

yes thats a good point gordon brown says the tax payers, ie us will gain out of it, does that mean you and i and the general public are going to cheque everymonth for example a £100 for our share profits? i dont think so

Does it also mean we can start sending out snotty letters and charge £25 for each one???

I heard them also point out that in effect the taxpayers would all become shareholders,wonder what our dividends will be???

in an ideal world the answer yes.

but we are on about banks and goverment so the answer is a very safely NO

Dont start me on banks - I hate the whole system banks, loans, credit cards etc any company really and I like to challenge them all hence my site name.

1. Banks need to be regulated - they cannot regulate themselves. The Banking Code is a joke they never answer any complaints just waffle round them.
2. When a company owes 'you' some money they should be regulated to pay it back with the same expectation they put on you if you owe it to them - i.e within a set time frame.
3. Gas and Electric - why different rates for key meters ? I should get a discount Im giving them my money up front.
4. Shareholders - they werent complaining all that time they were making profits. Its a risk business so hard luck.
5. Mortgages - they need better regulation and homeowners regulatory protection - I paid my mortgage on time for 12 years, after missing three payments before finding work again, should they really be allowed to take my house ? Fortunately this did not happen but could have!

Lets hope the credit crunch means that the government get a grip on this but alas it's far too late for the likes of us.

Well an alternative to this is to use a pre-paid debit card WITH a bill payment feature. You never go overdrawn, you never get interest charges or bounced cheque fees - a real alternative that is gathering momentum in the 21st Century.

David - which companies offer a pre paid credit card?

Check this link out

http://www.iva.co.uk/prepaid-cards-comparison.asp

A lot of people on here use the Tuxedo card and say it is good. Paypal also do one, I've had no problem with mine, but I know of at least one person on here who has.

I've got the Tuxedo card and so far I've been really happy with it. I had a problem at the beginning and they sorted it out straight away when I emailed them.

the bank i was with was one of the causes of the root i am on now ,in an iva
yep i made a mistake writing a rent cheque landlady asked for money 3 days earlier than normal can't remember why , suddenly realised i would be £20 short of the amount on the cheque phoned the bank after being on hold 20 mins then passed thru to 3 different departments
they told me they wouldnt honour the cheque and it would bounce so took the whole £530 rent money out of bank and added £20 from cc and payed landlady cash , but the bank did honour the cheque the next day bouncing the 11 direct debits in my account as i had taken £530 out they put cheque thru for the £550 rent and all my bounced dd charged me £30 odd per direct debit and also charged for going over overdraft £50 and a few other charges i got late fees on all direct debits which the bank kindly bounced again resulting another £330 of charges and another £50 for being over overdraft they kindly gave me back £ 330 to take off the additional charges they then charged again so after 10 days they had charged altogether £1100 with the refund but then i didnt have money to pay any of my bills or ccards or food or childcare or get to work and the nice person at the end of the phone at abbey said tough not my problem
that is why am in an iva as this triggered a vicious cycle as i then tried to pay bills etc from cc etc our joint wage was then £2300 a month so it was a huge amonut to have lost
17bn in bonuses last year and they would not remove a single charge as they had told me that they Would not honour the cheque so i took them on their word then they did and charged thru the hilt
i wonder if they got a bonus per charge
sorry it left me so angry especially now that we are bailing them out