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Buy Now Pay Later & CC/Pay Day Loans Lifestyles |
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#101 |
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Inactive Member
Join Date: Dec 2016
Location: London
Posts: 247
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Quote:
As I said unsecured debt is a different matter. I would question though whether credit card debt can be really be equated with true unsecured debt. For instance if every adult in the country had the same amount as myself on cards over Christmas then there would be a lot more 'credit card debt' than £66 bn. However I like many others who use credit cards for the sake of convenience and security have many times the cash in savings to pay these balances off completely monthly; as indeed I have done for the last 40 years.
My credit card 'debt' no doubt shows as part of total credit card debt but in reality it is just evidence of an administrative convenience. Perhaps just a sign that less and less people use cash and cheques? Better evidence that unsecured debt has been increasing here; http://www.thisismoney.co.uk/money/c...k-England.html I blame low interest rates mainly. Edit 'The value of household savings – including deposits, savings and pensions' are somewhere north of £3000bn. (in fact they where £3,545 billion in 2014 last figures I could find). £66bn is a drop in that Ocean. HNY ![]()
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#102 |
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Forum Member
Join Date: Sep 2008
Posts: 8,703
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Never judge someone unless you have walked in their shoes. There are many reasons people are in debt and your example is only one of them. Many people do not choose to be in debt. I'm in debt but I'm educated, have a degree, come from an upper middle class family but my husband lost his job last year and unless we wanted to miss mortgage payments and lose our house we had to take out a loan to get by as my salary was not enough to cover the £1500 bills but was enough to cover the extra £100 of a loan payment.
Until you have been there OP you will never understand what it's like and will keep making judgemental posts. |
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#103 |
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Forum Member
Join Date: Oct 2000
Location: London
Posts: 41,694
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Quote:
Never judge someone unless you have walked in their shoes. There are many reasons people are in debt and your example is only one of them. Many people do not choose to be in debt. I'm in debt but I'm educated, have a degree, come from an upper middle class family but my husband lost his job last year and unless we wanted to miss mortgage payments and lose our house we had to take out a loan to get by as my salary was not enough to cover the £1500 bills but was enough to cover the extra £100 of a loan payment.
Until you have been there OP you will never understand what it's like and will keep making judgemental posts. |
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#104 |
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Forum Member
Join Date: Apr 2005
Location: colchester
Posts: 15,350
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I'm surprised it's as low as that, given the size of the mortgages people have these days.
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#105 |
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Forum Member
Join Date: Nov 2008
Location: London
Posts: 24,671
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The OP reminds me of the humble Lucian Deville; now he was really good at this sort of stuff on here.
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#106 |
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Inactive Member
Join Date: Dec 2016
Location: London
Posts: 247
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I guess many people will sit down later this afternoon and log in to their banking details with antitcipation to look at what the xmas and new year has cost them.
Anyway, if you have sspent too much, make sure you pay it off straight away and not be lumbered with large repayments |
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#107 |
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Forum Member
Join Date: Aug 2013
Posts: 224
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Quote:
I guess many people will sit down later this afternoon and log in to their banking details with antitcipation to look at what the xmas and new year has cost them.
Anyway, if you have sspent too much, make sure you pay it off straight away and not be lumbered with large repayments Anyways, such a caring attitude for the rest of us. Bless. How many fans do you have now..? |
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#108 |
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Forum Member
Join Date: Apr 2013
Posts: 4,693
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Quote:
I guess many people will sit down later this afternoon and log in to their banking details with antitcipation to look at what the xmas and new year has cost them.
Anyway, if you have sspent too much, make sure you pay it off straight away and not be lumbered with large repayments |
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#109 |
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Forum Member
Join Date: Oct 2009
Posts: 8,746
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Quote:
I guess many people will sit down later this afternoon and log in to their banking details with antitcipation to look at what the xmas and new year has cost them.
Anyway, if you have sspent too much, make sure you pay it off straight away and not be lumbered with large repayments It's really rather coarse and vulgar, as well as making it appear that in all probability you don't actually have any.
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#110 |
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Forum Member
Join Date: Sep 2011
Posts: 17,242
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I imagine most people will not be logging into online banking today as it is New Years Day. They will probably be eating dinner together, watching films in front of the fire, playing board games, dying of hangovers etc.
Best of luck to anyone paying off payday loans and I hope your January won't be too tight (I didn't take one out but will be pinching the pennies for the next 4 weeks too) |
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#111 |
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Forum Member
Join Date: Jun 2014
Posts: 6,523
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Quote:
Never judge someone unless you have walked in their shoes. There are many reasons people are in debt and your example is only one of them. Many people do not choose to be in debt. I'm in debt but I'm educated, have a degree, come from an upper middle class family but my husband lost his job last year and unless we wanted to miss mortgage payments and lose our house we had to take out a loan to get by as my salary was not enough to cover the £1500 bills but was enough to cover the extra £100 of a loan payment.
Until you have been there OP you will never understand what it's like and will keep making judgemental posts. |
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#112 |
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Forum Member
Join Date: Mar 2009
Posts: 20,674
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