My thoughts on this subject are these!
The government could ask the borrowers to be more lenient on people struggling in these times.
1. To ask the borrowers to give people the opportunity of a holiday period, whereby you pay a percentage of your mortgage not all and the difference gets added onto the balance and interest calculated.
2. They could ask for a period of a few months whereby your mortgage is frozen so for a few months you don’t have to pay but it gets added onto the balances and interest calculated.
3. Or offer people to extent their term and thus bringing down their monthly
payments
If banks go for eviction the government would have to pick up the tab
People with mortgages are the biggest bulk of tax payers we have to work to pay our mortgages hence we pay our taxes, but get no support when times are hard.
Unlike people on housing benefit who get they rents paid are unlikely to have a job pay no taxes.
I am not saying those that have not should get nothing, but there are a lot of people trying their best not to scrounge, but we get zero support from governments when times like these happen.
So I think the government should stand up and be accountable for people like us that are holding on by the skin of our teeth.
We thought after 1991 we had ridden the storms but here we go again.
Rant over
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Help for people losing their homes
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Quote by staffcple
Why oh why does the government not step in and help people who cant afford their mortgage and may lose their face it at the end of the day when they are evicted the government will end up a)paying for accomadation for them b)if they can rehouse them all their rent and council tax. Why not step in before it happens give them help with the understanding, if and when they can, it has to be paid back ie should the property be kick people out of their homes just to have the problem of finding them another
Where's the difference in government paying a mortgage and the government paying to rehouse someone?
I'm trying to be sensitive here, but why should the taxpayer(because at the core of it that's who pays, not the govenrment) bail out everyone who is in financial trouble? Whether that's due to the credit crunch, redundancy or in some cases people borrowing more than they could ever hope to pay back. Simple fact is take on a mortgage, your selling your soul to a bank and ensuring you have to work your ass off for the next 25 years.
People must know that? Surely no one goes into a bank and borrows £150,000 without knowing it could all go wrong? Sorry, those that want to own their own home, good luck to you, I do not see why others should bail you out if it goes wrong. I'd also say loudly......
You don't own one brick until you make the last payment.
Just hightlighted this part as haven't you thought people with morgages are the tax payers that have paid in for years.
Could I just ask what do we get back for 20 years paying our taxes?
Are we not allowed to ask the government for compassion?
As it is our money they give aways elsewhere so easily
Quote by Cherrytree
At some point people are going to have to take responsibility for their own shortcomings. Many people have taken on huge morgages that they can not afford to pay back. As a tax payer I would rather my hard earned cash was spent on education and hospitals etc rather than digging people out of a mess that they got themselves into.
If people loose their homes the council may have a duty to rehouse them, but they may not. It would depend on indevidual circumstances. Even if the council rehoused them it doesn't mean to say they would get their rent and council tax paid either, again that would depend on their personal circumstances.
i agree ... i just couldnt put it in words aswell as you
Ah but... people's circumstances change. Wage earners lose jobs, split up, die...
Peoples circumstances do change, hence why I wrote assistance from the government with regards to housing and benefits would depend on individual circumstances.
Quote by lyns
Minx, my guess would be that most of the people struggling to pay their morgages are going to be the ones who got morgages based on 4/5times their salary over the maximum term. Should they not have to take some responsibility for getting themselves in over their heads?.
Not always true could be work times are hard at the moement to.
Plus we had no choice as to buy don't forget we have no counsil houses to have rented.
I suppose we could have stayed at home with parents for ever and a day, seems that what childen are doing nodays no commiment in relationships as you have no choices of living elsewhere.
Quote by Theladyisaminx
Just hightlighted this part as haven't you thought people with morgages are the tax payers that have paid in for years.
Could I just ask what do we get back for 20 years paying our taxes?
Are we not allowed to ask the government for compassion?
As it is our money they give aways elsewhere so easily
Minxy,
Yes people with mortgages pay tax, so do most of those without a mortgage who could never afford to join the housing ladder, not to mention those who have worked all of their lives to now enjoy a life of poverty in retirement.
Where do you draw the line? I'm sorry but those who pay a mortgage deserve no more or no less compassion or support than anyone else.
On a side note, I wonder how many of those who made an absolute killing during the housing boom showed any compassion for those less well off than themselves?
Shouldn't compassion be a two way street?
At some point people are going to have to take responsibility for their own shortcomings. Many people have taken on huge morgages that they can not afford to pay back. As a tax payer I would rather my hard earned cash was spent on education and hospitals etc rather than digging people out of a mess that they got themselves into.
If people loose their homes the council may have a duty to rehouse them, but they may not. It would depend on indevidual circumstances. Even if the council rehoused them it doesn't mean to say they would get their rent and council tax paid either, again that would depend on their personal circumstances.
Where are they ever going to rehouse them?
Most people going into privately rented accomodation with private landlords who change more that what they were paying on morgages.
But I suppose if you see it another way we can them give up or jobs and then the government would have to foot the bill.
Would it be better to help people keep hold of their homes for stability for their children?
I am not saying hand outs it would be support that gets paid back at a later stage.
Does it seem fair that people in private rented or counsil housing get help if they hit hard times.
But people that buy because they had no other choices and work and pay taxes get nothing?
We used to get help with the interest payments years ago but even that isnt an option now.
If people loose their homes the council may have a duty to rehouse them, but they may not. It would depend on indevidual circumstances. Even if the council rehoused them it doesn't mean to say they would get their rent and council tax paid either, again that would depend on their personal circumstances.
Where are they ever going to rehouse them?
Most people going into privately rented accomodation with private landlords who change more that what they were paying on morgages.
But I suppose if you see it another way we can them give up or jobs and then the government would have to foot the bill.
Would it be better to help people keep hold of their homes for stability for their children?
I am not saying hand outs it would be support that gets paid back at a later stage.
Does it seem fair that people in private rented or counsil housing get help if they hit hard times.
But people that buy because they had no other choices and work and pay taxes get nothing?
We used to get help with the interest payments years ago but even that isnt an option now.
Quote by staffcple
Just hightlighted this part as haven't you thought people with morgages are the tax payers that have paid in for years.
Could I just ask what do we get back for 20 years paying our taxes?
Are we not allowed to ask the government for compassion?
As it is our money they give aways elsewhere so easily
Minxy,
Yes people with mortgages pay tax, so do most of those without a mortgage who could never afford to join the housing ladder, not to mention those who have worked all of their lives to now enjoy a life of poverty in retirement.
Where do you draw the line? I'm sorry but those who pay a mortgage deserve no more or no less compassion or support than anyone else.
On a side note, I wonder how many of those who made an absolute killing during the housing boom showed any compassion for those less well off than themselves?
Shouldn't compassion be a two way street?
May be they do, or have done, by paying massive amounts of further tax through inheritance
Quote by staffcple
Just hightlighted this part as haven't you thought people with morgages are the tax payers that have paid in for years.
Could I just ask what do we get back for 20 years paying our taxes?
Are we not allowed to ask the government for compassion?
As it is our money they give aways elsewhere so easily
Minxy,
Yes people with mortgages pay tax, so do most of those without a mortgage who could never afford to join the housing ladder, not to mention those who have worked all of their lives to now enjoy a life of poverty in retirement.
Where do you draw the line? I'm sorry but those who pay a mortgage deserve no more or no less compassion or support than anyone else.
On a side note, I wonder how many of those who made an absolute killing during the housing boom showed any compassion for those less well off than themselves?
Shouldn't compassion be a two way street?
I believe there is no equal compassion!
Quote by cockslut
just thinking aloud here but lets go forward to when we are of pensionable age presumably people with mortgages will of paid off their mortgage but the people who still rent accomodation will need assistance with rent if they've not arranged a good pension.
Good point :thumbup:
On the other side of the coin though is the fact that pensioners often have their houses stolen off them by the local authority to pay for care :cry:
Sex God
Quote by Cherrytree
.......
Ah but... people's circumstances change. Wage earners lose jobs, split up, die...
Yep and to be fair you can get insurance that will cover most of these things.
I think the important thing is to tell the mortgage company as soon as you think you're going to have problems so you can work something out. Most would rather have some income from their outlay (ie your mortgage) rather than the cost of court fees organising a repossession.
I wonder how many of the "repossessions" figures are actually investment properties where the investor decides that the property is no longer worthwhile and hands the keys back after defaulting on payments. Just an aside.
Quote by Theladyisaminx
At some point people are going to have to take responsibility for their own shortcomings. Many people have taken on huge morgages that they can not afford to pay back. As a tax payer I would rather my hard earned cash was spent on education and hospitals etc rather than digging people out of a mess that they got themselves into.
If people loose their homes the council may have a duty to rehouse them, but they may not. It would depend on indevidual circumstances. Even if the council rehoused them it doesn't mean to say they would get their rent and council tax paid either, again that would depend on their personal ]
Where are they ever going to rehouse them?
Most people going into privately rented accomodation with private landlords who change more that what they were paying on morgages.
But I suppose if you see it another way we can them give up or jobs and then the government would have to foot the bill.
Would it be better to help people keep hold of their homes for stability for their children?
I am not saying hand outs it would be support that gets paid back at a later stage.
Does it seem fair that people in private rented or counsil housing get help if they hit hard times.
But people that buy because they had no other choices and work and pay taxes get nothing?
We used to get help with the interest payments years ago but even that isnt an option now.
Minx, I can only speak for Bristol City Council because that is where I live and that is where I have had dealings. The council do not have a duty to rehouse everybody who is classed as homeless, it depends on various circumstances and until you are in the situation you don't know what kind of help you could be entitled to
I agree in an ideal world it would be lovely to help everyone in trouble to keep their own homes, but it is open to abuse as is any type of benefit system.
Banks and people have been acting irresponsibly for years, the banks lending to much, people borrowing to much. Everyone wether in rented homes, council homes or morgaged homes are feeling the pinch. The answer I really
. Quote by Theladyisaminx
I believe there is no equal compassion!
Surely there is though?
The benefit system would be a case in point.
To qualify doesn't everyone have to meet the same criteria?
I believe in most cases a council's commitment is to provide it's constituents with a roof over their heads.
Why does that have to be one 'owned' by the individual?
Payed for via a contract the individual freely enters into, with prior knowledge of what could happen if you cannot pay.
In answer to the ops question, I do not think people should be bailed out.
I lost my home in the early 90's when interest rates went up to 15%. The economy was bad and the housing market crashed. I lost all my overtime, and then after many months.....lost my house.
Bearing in mind I took the mortgage out at whatever the interest rate was, nowhere near 15%, and that and that alone was the reason I and many others lost their homes. It was not my fault that interest rates almost trebled in such a short space of time.
What help did I get then? Jack shit and am still resentful to this day. So sorry if people find themselves in financial hardship over their homes, but I for one think, why should anyone bail you out?
Sorry if that sounds harsh but why should anyone bail you out now, when nobody bailed anyone out who lost their houses in the 90's crash.
I lost my home in the early 90's when interest rates went up to 15%. The economy was bad and the housing market crashed. I lost all my overtime, and then after many months.....lost my house.
Bearing in mind I took the mortgage out at whatever the interest rate was, nowhere near 15%, and that and that alone was the reason I and many others lost their homes. It was not my fault that interest rates almost trebled in such a short space of time.
What help did I get then? Jack shit and am still resentful to this day. So sorry if people find themselves in financial hardship over their homes, but I for one think, why should anyone bail you out?
Sorry if that sounds harsh but why should anyone bail you out now, when nobody bailed anyone out who lost their houses in the 90's crash.
If the government started helping with mortgage repayments then surely they would then own part of the property? you cannot compare helping with rent to helping pay a loan/mortgage, there’s already insurance policies available to cover this with both mortgages and loans. If our government ever introduced a system that helped with loan or mortgage repayments too many people would unfortunately abuse the system.
The only viable option from a government point of view would be to clear the outstanding mortgage and rent it to the former owners.
The only viable option from a government point of view would be to clear the outstanding mortgage and rent it to the former owners.
Quote by kentswingers777
.
I lost my home in the early 90's when interest rates went up to 15%. The economy was bad and the housing market crashed. I lost all my overtime, and then after many months.....lost my house.
Bearing in mind I took the mortgage out at whatever the interest rate was, nowhere near 15%, and that and that alone was the reason I and many others lost their homes. It was not my fault that interest rates almost trebled in such a short space of time.
.
Sorry Kent but interest rates were never at 15% in the early 90s, other than for a very short period on Black Wednesday, 16 Sep 1992. The rate at the beginning of that day was % and the rate increased throughout the day until the Britain crashed out of the ERM and then the rates decreased steadilly and averaged arong 6% until Labour won the election in 1997. The last time rates were at 15% was in Oct 1989 but the last time they were at 5% was in the mid 70s.
In answer to the OPs question, I don't believe the the Government should bail any one out but the mortgage lenders should look to alternatives and only resort to repossession when all other avenues have been explored.
Quote by kentswingers777
.
I lost my home in the early 90's when interest rates went up to 15%. The economy was bad and the housing market crashed. I lost all my overtime, and then after many months.....lost my house.
Bearing in mind I took the mortgage out at whatever the interest rate was, nowhere near 15%, and that and that alone was the reason I and many others lost their homes. It was not my fault that interest rates almost trebled in such a short space of time.
.
Sorry Kent but interest rates were never at 15% in the early 90s, other than for a very short period on Black Wednesday, 16 Sep 1992. The rate at the beginning of that day was % and the rate increased throughout the day until the Britain crashed out of the ERM and then the rates decreased steadilly and averaged arong 6% until Labour won the election in 1997. The last time rates were at 15% was in Oct 1989 but the last time they were at 5% was in the mid 70s.
In answer to the OPs question, I don't believe the the Government should bail any one out but the mortgage lenders should look to alternatives and only resort to repossession when all other avenues have been explored.
for the council to have a duty to you under the homeless act you have to fullfill certain criteria.
if you aproach them for helpbecause you are about toface losing your home,reposession either buying or renting and it is due to arrears then the chances are the council will not offer assistance as you will be demamed as " intentionally homeless"
if you are facing problems initially go to the mortgage lender and talk to them. sell if possible, or consider actually renting your home out to cover the mortgage and rent smaller and cheeper privately.
if none of that is a possibility you need to aproach the council NOW and explain you can not afford your home,they can complete a homeless prevention form and offer advice, then if it gets repossessed they may help as it can be seen us not intentional as you were seen to do everything you could.
if your circumstances have changed then go to the council,cab etc and see if you are entitled to any benefit to assist you, you could apply for housing benefit and if you get awarded even 50pyou could then claim discretionary top up payment.
for the council to assist you must have local conection and be considered vulnerable, for example, have children, ill, under 18.
even if they do help chances are you will be placed in emergancy accommodation : b n b, if you are working and not getting any benefit then you will have to cover the cost of this.
if you have children they can only keep you there for 6 weeks, once they have made a desision on accepting a duty to you.
after this , it sdoes not still mean you will get a council house, they may find you a private rental and then discharge the duty, they may place you in ahostel,again hgh costs that you are liable for.
there is a hge sortage of houses, so many were sold off under thatcher.
easier said than done, but people must act as soon as they can.
xx fem xxx
if you aproach them for helpbecause you are about toface losing your home,reposession either buying or renting and it is due to arrears then the chances are the council will not offer assistance as you will be demamed as " intentionally homeless"
if you are facing problems initially go to the mortgage lender and talk to them. sell if possible, or consider actually renting your home out to cover the mortgage and rent smaller and cheeper privately.
if none of that is a possibility you need to aproach the council NOW and explain you can not afford your home,they can complete a homeless prevention form and offer advice, then if it gets repossessed they may help as it can be seen us not intentional as you were seen to do everything you could.
if your circumstances have changed then go to the council,cab etc and see if you are entitled to any benefit to assist you, you could apply for housing benefit and if you get awarded even 50pyou could then claim discretionary top up payment.
for the council to assist you must have local conection and be considered vulnerable, for example, have children, ill, under 18.
even if they do help chances are you will be placed in emergancy accommodation : b n b, if you are working and not getting any benefit then you will have to cover the cost of this.
if you have children they can only keep you there for 6 weeks, once they have made a desision on accepting a duty to you.
after this , it sdoes not still mean you will get a council house, they may find you a private rental and then discharge the duty, they may place you in ahostel,again hgh costs that you are liable for.
there is a hge sortage of houses, so many were sold off under thatcher.
easier said than done, but people must act as soon as they can.
xx fem xxx
Quote by Max777
.
I lost my home in the early 90's when interest rates went up to 15%. The economy was bad and the housing market crashed. I lost all my overtime, and then after many months.....lost my house.
Bearing in mind I took the mortgage out at whatever the interest rate was, nowhere near 15%, and that and that alone was the reason I and many others lost their homes. It was not my fault that interest rates almost trebled in such a short space of time.
.
Sorry Kent but interest rates were never at 15% in the early 90s, other than for a very short period on Black Wednesday, 16 Sep 1992. The rate at the beginning of that day was % and the rate increased throughout the day until the Britain crashed out of the ERM and then the rates decreased steadilly and averaged arong 6% until Labour won the election in 1997. The last time rates were at 15% was in Oct 1989 but the last time they were at 5% was in the mid 70s.
In answer to the OPs question, I don't believe the the Government should bail any one out but the mortgage lenders should look to alternatives and only resort to repossession when all other avenues have been explored.
Sorry but is that not a contradiction?
I stated that interest rates reached 15% and you said they never did. But they did, may have been a short time but...they did reach that figure. They may not have stayed there but they stayed very very high.
I should know I was having to pay a mortgage that had nearly doubled in 4 months. Check how many people lost their homes in the early 90's because of the very high interest rates. My opinion remains the same....I got no help to save my home so why should people now get any? Most now have over borrowed...period for me.
Sex God
Quote by kentswingers777
I got no help to save my home so why should people now get any? Most now have over borrowed...period for me.
So really what your basing your agrument on is the fact because you didnt get it nobody else should
I dont think that there should be get out of jail free cards for home owners but I do feel that lenders ought to be a lot more sympathetic towards borrowers in what is basically the beginings of a recesion(sp) ....
It was nigh on impossible fore this to be forseen despite the gloom mongers saying all this spending cannot continue etc so a little leniancy is the order of the day I feel....
Perhaps,as has already been said, a suspension of payments for a defined period with the payments and interest to be added onto the end of the term would be all some people need....
Repossesion should be the last option....
Quote by Steve
I got no help to save my home so why should people now get any? Most now have over borrowed...period for me.
So really what your basing your agrument on is the fact because you didnt get it nobody else should
I dont think that there should be get out of jail free cards for home owners but I do feel that lenders ought to be a lot more sympathetic towards borrowers in what is basically the beginings of a recesion(sp) ....
It was nigh on impossible fore this to be forseen despite the gloom mongers saying all this spending cannot continue etc so a little leniancy is the order of the day I feel....
Perhaps,as has already been said, a suspension of payments for a defined period with the payments and interest to be added onto the end of the term would be all some people need....
Repossesion should be the last option....
Steve I agree as my points earlier stated.
I didn't ask for a hand out from the government but a bit of help from the lenders, which would be paid back anyway with interest.
Quote by Max777
.
I lost my home in the early 90's when interest rates went up to 15%. The economy was bad and the housing market crashed. I lost all my overtime, and then after many months.....lost my house.
Bearing in mind I took the mortgage out at whatever the interest rate was, nowhere near 15%, and that and that alone was the reason I and many others lost their homes. It was not my fault that interest rates almost trebled in such a short space of time.
.
Sorry Kent but interest rates were never at 15% in the early 90s, other than for a very short period on Black Wednesday, 16 Sep 1992. The rate at the beginning of that day was % and the rate increased throughout the day until the Britain crashed out of the ERM and then the rates decreased steadilly and averaged arong 6% until Labour won the election in 1997. The last time rates were at 15% was in Oct 1989 but the last time they were at 5% was in the mid 70s.
In answer to the OPs question, I don't believe the the Government should bail any one out but the mortgage lenders should look to alternatives and only resort to repossession when all other avenues have been explored.
A snipet from Channel 4 news....
Ten per cent-plus interest rates were common during the early and mid eighties, and in September 1988, interest rates were indeed in double digits - although they'd only just reached this level.
Rates hovered between 9 and 7.5 per cent for the first half of 1988, before breaching the two-figure mark on 21 July. By September, it was 12 per cent, and went up another percentage point in November 1988.
Things got worse in 1989, with rates reaching 15 per cent in October. They dropped a percentage point in October 1990, and then continued to drop steadily through 1991, landing at 10.5 per cent in September 1991.
The blackest cloud of interest-rate history - at least in recent memory - floats 16 years ago this month, when the UK crashed out of the Exchange Rate Mechanism on Black Wednesday.
Quote by Steve
I got no help to save my home so why should people now get any? Most now have over borrowed...period for me.
So really what your basing your agrument on is the fact because you didnt get it nobody else should
I dont think that there should be get out of jail free cards for home owners but I do feel that lenders ought to be a lot more sympathetic towards borrowers in what is basically the beginings of a recesion(sp) ....
It was nigh on impossible fore this to be forseen despite the gloom mongers saying all this spending cannot continue etc so a little leniancy is the order of the day I feel....
Perhaps,as has already been said, a suspension of payments for a defined period with the payments and interest to be added onto the end of the term would be all some people need....
Repossesion should be the last option....
I dont base my arguements on just me, but what about the hundred thousand plus familes that lost their homes with NO help?
Why the heck should people get any help for either over borrowing, or for being allowed to borrow 5 times plus their salary? Did they not know what they were doing when they signed their mortgage forms? Or were they forced to over borrow? :dunno:
From the work i do come into day to day contact with people in financial difficulties, lenders and properties being sold off after repossession.
The government has recognised that the position has been caused by “ irresponsible lending” by financial companies not just banks and mortgages companies and this has caused people to become overextended with their commitments.
The situation has changed now in regard to repositions with this now being classed as a last resort measure and the mortgage lenders being warned that action will be taken against them due for unreasonably repossessing the property both financially and regulatory.
Even guidance is being given to judges to not let properties being repossessed unless there is a very good reason i.e. not just arrears.
The government is also starting with putting in place legislation to assist people who find themselves overstretched like the new debt relief orders coming online april 2009 to get rid of debts of up to £15,000 from credit cards and loans but don‘t include things like cars on hire purchase or mortgages which are included in Involuntary Agreements (IVA)‘s and bankruptcy‘s.
The government has recognised that the position has been caused by “ irresponsible lending” by financial companies not just banks and mortgages companies and this has caused people to become overextended with their commitments.
The situation has changed now in regard to repositions with this now being classed as a last resort measure and the mortgage lenders being warned that action will be taken against them due for unreasonably repossessing the property both financially and regulatory.
Even guidance is being given to judges to not let properties being repossessed unless there is a very good reason i.e. not just arrears.
The government is also starting with putting in place legislation to assist people who find themselves overstretched like the new debt relief orders coming online april 2009 to get rid of debts of up to £15,000 from credit cards and loans but don‘t include things like cars on hire purchase or mortgages which are included in Involuntary Agreements (IVA)‘s and bankruptcy‘s.
Sex God
Quote by kentswingers777
I got no help to save my home so why should people now get any? Most now have over borrowed...period for me.
So really what your basing your agrument on is the fact because you didnt get it nobody else should
I dont think that there should be get out of jail free cards for home owners but I do feel that lenders ought to be a lot more sympathetic towards borrowers in what is basically the beginings of a recesion(sp) ....
It was nigh on impossible fore this to be forseen despite the gloom mongers saying all this spending cannot continue etc so a little leniancy is the order of the day I feel....
Perhaps,as has already been said, a suspension of payments for a defined period with the payments and interest to be added onto the end of the term would be all some people need....
Repossesion should be the last option....
I dont base my arguements on just me, but what about the hundred thousand plus familes that lost their homes with NO help?
Why the heck should people get any help for either over borrowing, or for being allowed to borrow 5 times plus their salary? Did they not know what they were doing when they signed their mortgage forms? Or were they forced to over borrow? :dunno:
I have to say thats a pretty narrow minded attitude especially for someone who's a swinger....
I would have though you would have been more open minded and willing to see people helped rather than thrown out on the streets
i didnt know what a debt relief oredr was so i looked it upand got this....
Debt Relief Orders are intended to provide debt relief for people in England and Wales who owe £15,000 or less, have little or no income, no assets and cannot afford to make themselves bankrupt. A Debt Relief Order will lead to the debts being discharged after one year.
isnt a house a assest? or a car? who will these orders cover if you have to have little or no income?
i heard on the news the other day the government were going to make credit cards etc able to make a charge on a property so they could force reposession for credit card debts?
i dont want to sound tight, but i have not got credit, i havent been on holiday in years, i dont have a swanky new car i havent bought anything new for my home in over 5 years etc etc.
i see plently of friends etc who have been doing all of this while ive lived to my means. so now for being carefull i have to sit back and watch people who have spent what they cant afford get it cleared??
i hear people say we dont want a nanny state, the lenders were not responsible? but what about us being adults??
i know not everyone has walked into debt willy nilly,and i know being there is horrible. but i hear to many people panicking but because they cant get the credit to continue living the lifestyle.
im not that savvy , but years ago wasnt it more to do with intrest soaring out of control rather than spending?
xx fem xx
Debt Relief Orders are intended to provide debt relief for people in England and Wales who owe £15,000 or less, have little or no income, no assets and cannot afford to make themselves bankrupt. A Debt Relief Order will lead to the debts being discharged after one year.
isnt a house a assest? or a car? who will these orders cover if you have to have little or no income?
i heard on the news the other day the government were going to make credit cards etc able to make a charge on a property so they could force reposession for credit card debts?
i dont want to sound tight, but i have not got credit, i havent been on holiday in years, i dont have a swanky new car i havent bought anything new for my home in over 5 years etc etc.
i see plently of friends etc who have been doing all of this while ive lived to my means. so now for being carefull i have to sit back and watch people who have spent what they cant afford get it cleared??
i hear people say we dont want a nanny state, the lenders were not responsible? but what about us being adults??
i know not everyone has walked into debt willy nilly,and i know being there is horrible. but i hear to many people panicking but because they cant get the credit to continue living the lifestyle.
im not that savvy , but years ago wasnt it more to do with intrest soaring out of control rather than spending?
xx fem xx
Quote by Steve
I got no help to save my home so why should people now get any? Most now have over borrowed...period for me.
So really what your basing your agrument on is the fact because you didnt get it nobody else should
I dont think that there should be get out of jail free cards for home owners but I do feel that lenders ought to be a lot more sympathetic towards borrowers in what is basically the beginings of a recesion(sp) ....
It was nigh on impossible fore this to be forseen despite the gloom mongers saying all this spending cannot continue etc so a little leniancy is the order of the day I feel....
Perhaps,as has already been said, a suspension of payments for a defined period with the payments and interest to be added onto the end of the term would be all some people need....
Repossesion should be the last option....
I dont base my arguements on just me, but what about the hundred thousand plus familes that lost their homes with NO help?
Why the heck should people get any help for either over borrowing, or for being allowed to borrow 5 times plus their salary? Did they not know what they were doing when they signed their mortgage forms? Or were they forced to over borrow? :dunno:
I have to say thats a pretty narrow minded attitude especially for someone who's a swinger....
I would have though you would have been more open minded and willing to see people helped rather than thrown out on the streets
Sorry Steve but is this not about asking for peoples opinions? :dunno:
I do not see what being a swinger has got to do with anything. When I lost my home the local council did not give a toss about me or my family, and we was placed in b&b for 6 weeks. I did NOT over borrrow like a lot have now, mine was due to circumstances beyond my control....massive hikes in interest rates, not 5% or lower as a lot are paying now.
Maybe if you had been in the situation I was back then you may well have a different attitude...then again maybe not. I have my opinion and am allowed to express it.
