www.iva.co.uk

Banks are offering 'highs' by giving a person in debt more money. its the same as giving a druggie more drugs. they still end up in the same situation and position they started off in, except with the feeling of needing and wanting more.

I must admit i believe many of us on here were taken advantage of in difficult situations by our banks.

So many would argue 'they didn't force you to take the money', well actually they did. they make you feel that this will solve many of your financial problems and the monthly payments will help you a lot, and most of the time when we're in financial difficulty we look for any route that helps relieve the immediate stress and we always pick the option that will offer short term relief and nothing in the long term.

everything in hindsight always seems different.

However i think the button clicks when we actually realise and admit that we are now in debt and getting more money will make it worse. this then leads to the route of debt rehabillition.

This is a very small town which serves many villages - we have 4 banks- they are all trying to out do each other with the size of their notices offering loans for this that and the other - including consolidation loans.

I had a conversation with an old school mate a few weeks ago who is reasonably senior in a merchant bank in the city. His concerns are that the "prime" customers have stopped borrowing or are defaulting and they will "have a job getting them back in again" . To him prime customers are typically thirty plus family people with children in secure employment earning between £30,000- £50,000 . The assumption is that you bring up your kids on expensive credit and pay it off in your fifties with your parents inheritance or a re-mortgage. Simple as that!

I started with a £200 overdraft on my personal current account, when my IVA was put forward this had risen to £8k !! [:0]
I don't blame anyone for my debt (except me) but if my credit lines had run out earlier, which by looking at my credit file thet should have done, I wouldn't have got anywhere near as deep as I did.

That's a scary thought stoney!

Be no point our kids doing that though - no inheritance to leave at the moment!

There will be when you have written and published your book!!

[:D][:D]

One day David........

I am never going to let you forget the book Jan!!!!!!!!!!!!!!!!!!!

[:D][:D]

I know!!!!!!

I really hope you do it - you know a great deal from personal to technical and the way you put things across will ensure that even the most complicated looks simple.

Has the problem not arisen because Banks are now run by people that are good in marketing (drug pushers from the op) instead of people that are proper bankers and know the banking system.