Arghhh, easier credit??? - HotUKDeals
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Arghhh, easier credit???

LadyMadonna Avatar
8y, 4m agoPosted 8 years, 4 months ago
As we're heading for an economic downturn the goverment are considering changing its fiscal rules to make it easier to borrow money.

Now I guessing that as this a goverment proposal then it will have some kind of benefit for them and the economy but what about the individual?

Isn't this how the trouble started by giving people in America mortgages that they couldn't afford to pay back?

I don't know about anyone else but I don't think I should have access to the amount of credit I have but I can't help myself.

I have to learn to "JUST SAY NO!!!"
LadyMadonna Avatar
8y, 4m agoPosted 8 years, 4 months ago
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#1
jellybaby22
I made a lot of mistakes credit wise when I was younger and now Im really strict with myself, I have one credit card for emergencies and absolutley no credit or debt anymore....nothing...doesnt stop them trying to throw it at me though. I am of the opinion if I cant afford it then I shouldnt have it......;-)


Wise woman.

I was thinking more along the lines of live for the moment but have decided to stop buying and just pay off my credit card then keep it but lower my limit.
#2
[FONT="Comic Sans MS"][SIZE="3"][COLOR="DarkOrchid"]I think if they're talking about fiscal rules, they mean to make it easier for the government to borrow money, not individuals![/COLOR][/SIZE][/FONT]
#3
I also made mistakes when I was younger sadly I think most people do, luckily I got made redundant & got a decent pay off so used that to clear all of my debts & a deposit on a house - I still use a credit card these days for all of my purchases for the cashback but it's paid off every month sometimes it's even in credit so I can spend on it knowing I've already paid for the stuff.

If I can't afford it nowadays I just wait until I can instead of using the credit card thinking it's OK I can pay that off in a few months.

I've not paid any interest on a credit card for a few years now & things are a lot better - it's just throwing money away because you can't wait most of the time.

edit - oh yeah and the point of the post was that - credit being too easy to get at too young an age is why most people I know got into trouble early, I had a £7,000 credit card limit when I earnt £3500 a year and I was 17\18ish & then as soon as I started getting real money shortly afterwards it all went pear shaped, they just kept giving me bigger & bigger limits without me asking.

When I finally went through my credit report with experian a couple of years back I had over £90,000 of availiable credit with various cards! Needless to say I've closed them all now and just have the one card I use for the cashback.
#4
Making borrowing easier would be very irresponsible of the GovT.

Folk are already allowed to borrow way more than they can afford to buy overpriced property.

Perhaps all the ministers dabble in property letting and will cash in when all the inevitable repo's kick in.
#5
chrysha
[FONT="Comic Sans MS"][SIZE="3"][COLOR="DarkOrchid"]I think if they're talking about fiscal rules, they mean to make it easier for the government to borrow money, not individuals![/COLOR][/SIZE][/FONT]


Ahhh, that would make sense... kinda... shouldn't they be leading by example???

I
#6
LadyMadonna
Ahhh, that would make sense... kinda... shouldn't they be leading by example???

I


[FONT="Comic Sans MS"][SIZE="3"][COLOR="DarkOrchid"]Governments borrow money all the time to try to keep the economy stable, it's supposed to prevent a 'stop, start' economy![/COLOR][/SIZE][/FONT]
#7
I know, thats why they're all in debt like the rest of us. At least it shows solidarity.

Bit funny though that the Government sets the rules on Government borrowing that they can then change whenever they like.
[mod]#8
LadyMadonna;2560490
I know, thats why they're all in debt like the rest of us. At least it shows solidarity.

Bit funny though that the Government sets the rules on Government borrowing that they can then change whenever they like.


Any acts of parliament still have to be signed off by the Queen...........not that she'd ever say no anyway. Don't think any monarch has for about 300 years now.
#9
Having gone bankrupt in Feb this year, this really scare the living **** out of me!

It was so easy to borrow in the first place, make it easier and my god!!!!

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