Why do people in an IVA /in Debt want more credit?

[NBNA]

Andrew, one rhetorical point I like to make is that the assets back securities pooled from student,auto loans etc) that lenders were selling off to investors in tranches through SPV to enable them to then lend more to people; no different to mortgage backed securities; have all but dried up....so there cannot be any new sub prime(incl iva. BR lending)till confidence returns and it will be a very long long time....its a different world order...

[Andrew Graveson]

NBNA,

There is money available for people with credit impairment.

Whether or not the terms are attractive is a different matter.

Things have changed. I think the future is risk-based pricing and affordability-based lending. In stark terms that will mean more expensive borrowing available to fewer people and even then only as confidence works back through the system.

[NBNA]

Andrew,

your wrote....
"risk-based pricing and affordability-based lending"

I hope{they)Banks don't overwrought this concept as they under wrought the previous models to simulate lending behaviour....the pinstripped men took us to the brink...!