www.iva.co.uk

Did anyone see Panoroma tonight? It was to do with how the credit crunch is affecting individuals.

The scary part for me was seeing an 18 year old girl pawning some of her jewellery as she was a bit short. She is about £6000 in debt, and whilst she was being interviewed she had a credit card company phone her and ask for payment. She told them she would pay them at the end of the month.

The interviewer asked how she was going to fund it, and she told him it would be another credit card, on which she had hardly anything!
She was getting calls about 5 times a day.

Apart from the fact that it is awful that she is in so much debt for such a young age (although she did admit it was self inflicted), that was me 12 months go!!!!!!!!!! Bought back some nasty memories.

Lets just hope that our own personal experiences will help to educate our children and grandchildren to how easy it is to start on the credit slide.
My daughter is so old headed and wants to get a good job and pay for things only with cash.
Its scary how easy the banks make it sound.

I missed it but sounds awful. I'm really worried about my nephew, he's just going into his second year in uni, has moved out into a shared house, ditched some of his summer job shifts and bought 15 DVDs in one go! I don't think he's got a credit card though but he's definitly got a huge overdraft.

My daughter bought her laptop through PC World and had finance through HFC (hateful company!) They are forever trying to contact her to offer her a loan. The last time they phoned OH told them not to phone here again if they were going to be offering her money as she didn't want any and we were fed up of the calls.

They wrote to her instead asking her to contact them. Another letter for the recycling bag!

I think daughter will think twice before taking out any credit. She has already said she doesn't want a credit card.