You might wonder why or how the credit crunch can continue to affect the everyday finances of people in UK? Don't forget it's not just the fact that the cost of living continues to soar; lenders are now putting limits on the level of credit we have available.
Different aspects of the cost of living have increased, even month on month, things like utility bills food resturants and cafes, alcohol and even package holiday costs have increased from April 2008 compared to March 2008. This is because of the rising external costs to the companies operating in these goods and services.
It would also make sense for loan and mortgage lenders to tighten their lending criteria, and we've seen that over the first few months of spring lenders have indeed made it more difficult for people to get hold of credit. I think this is a good thing in the light of mortgages and loans including secured loans Something like 60 per cent of people who consolidate their debts with a loan will then use additional loans and other forms of credit to, perhaps, fund a lifestyle they simply cannot afford. It is time for people to wake up and budget within their means.
However, what I do not agree with is the recent 2.5 million or so credit card customers who've had restrictions put on their accounts because of the credit crunch! Forgive me for thinking this way but wasn't it the banks that got us into the credit crunch mess in the first place? If they had not lent money irresponsibly to people who could not afford the repayments this would never have happened?...
Credit card companies have cut spending limits, issued annual fees and even closed some accounts. But what makes this even more insulting is that many of these customers are ones who use their credit card occasionally and generally pay off the balance in full. i.e the kind of customer that doesn't really make any profit for the banks! Suprise, suprise, it's all boiled down to money, or should I say, profit for the banks. As if the banks profit margins weren't big enough already, it's the average, every day customers who are now having to pay for their mistakes.
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Mac Software Question
By: Susie | 23-07-2008
I was told that there is software available to allow Mac to read Microsoft software . Is this correct, what is it called, and where do i get it?
Statute of limintations on a personal loan?HELP
By: nel | 23-07-2008
hi i live in NY and in the beginning of 2001 i took out a personal school loan. my husband agreeed to pay for it so to get to school i had to take public trans but by summer i was having back problems and by the time i got better they had dropped me from the course and took away my partial grant and charged me for half of the tuition $4,500. i didnt have much of a choice but to except it I didnt want to mess up my credit. in 2005 my husband and i seperated and it turned out he did not pay for my loan after i stop going to school. i still have cronic back pain to this day the problem is that it goes and comes a few times a year but when it does come back i cant get out of bed and because of that i cant keep a job. itis going on 8years now. so my question is that is thier a statute of limintations on this loan? or atlast is their a loop hole i can use to get out of it ? I CANT GET MONEY FROM SOMEWHERE I DONT HAVE. i have had to become very dependent on my fam i do not get gov ass (what do i do).
Is no credit good or bad?
By: iamarealperson2 | 23-07-2008
If I have no credit at all, then what do I have to do to establish my credit?
Bankruptsy?
By: moneta | 23-07-2008
I have 2 morgages and can't sell one house, Bankruptsy?
In mass. where is there a restaraunt auction ...
By: John Hodgdon | 23-07-2008
In mass. where is there a restaraunt auction. Pizza ovens
Llyod banks
By: llyoedbanks | 23-07-2008
what is Llyod banks email address
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