Next week on TV there's a programme about a woman from Doncaster on how to get her debt down.She lives on the benefit system and had managed to rack up 75k debt on her CC.
Now is it me but I struggle to understand how she has let it happen and also how she has been allowed to let this happen.

You do have to wonder. I have a decent job and would never be able to get that amount of credit!

when i was on the dole i COULDNT get a credit card, im now working and not tried BUT i just got denied £500 credit with Argos to buy my new computer cos i dont have a credit rating
seems even people with a bad credit rating can get more and more credit?

I ve just finished working for a finance company in sheffield, i did a little bit of debt management there.
I spoke to people who the same had up to 10 different credit cards and were anything from £1,000 up to £100k in debt.. it amazed me how these people slept at night.
The not so good thing was, they would go to the ccs or a debt managment company and have it more or less wiped off after a few years ..
Dosent seem fair at all, that some people who can take out credit abuse it, and other people struggle.
:rant:

I ve just finished working for a finance company in sheffield, i did a little bit of debt management there.
I spoke to people who the same had up to 10 different credit cards and were anything from £1,000 up to £100k in debt.. it amazed me how these people slept at night.
The not so good thing was, they would go to the ccs or a debt managment company and have it more or less wiped off after a few years ..
Dosent seem fair at all, that some people who can take out credit abuse it, and other people struggle.
:rant:

on a similer note, my mate the other week was on about his sister, they were moving as theyd amassed over £50.000 debt and were getting the house repossessed and made bankrupt

HOWEVER

he also said the strange thing is..........if the house doesnt sell, they could be given it back in a year??? with no mortgage, how crazys that

and some houses on that estate have been empty for 2 years

Theres no way.. ive worked in finance for years and never heard that...
They will sell the house.. so long as the £50k is covered, the good thing is if they are going bankrupt they wont have to pay anything out..
Ive spoke to people who have had their house took off them, and still owe on their mortgage and kept paying it..

She must have kept up most of her payments though to be able to get them anyway. The bigger names are usually quick to give you credit. Im 23 and have 5 credits. 3 are clear, and one of them, I cant really be bothered to try and pay it, it only costs £17 a month, and Ive bought lots of things on it, that I dont regret.
Ive never missed a payment, so I know I could get credit. But luckily I work full time and have never had a problem in paying them, so if I want something before pay day, I'll buy it.
But then, I dont think I could live with oweing so much, you're just never going to be able to pay it off. Cant be nice to live with.

Hi ALL ime not thinking how she got the money ime thinking by god she must have had one hell of a time spending it

No doubt she will be portrayed as the "victim".

No doubt she will be portrayed as the "victim".

to some extent she is.

she should have had more sense than to get into this amount of debt but the card companies should never have allowed her to get into that amount of debt in the first place.

to some extent she is.
And fat people are victims of cake shops, alcoholics victims of pubs, etc.
she should have had more sense than to get into this amount of debt but the card companies should never have allowed her to get into that amount of debt in the first place.
You have to wilfully get into that much debt. If she'd got one card, maxed that out. Got another, done the same thing. And so on, they'd have picked it up. She obviously hid the amount of debt she was getting into.

when i was on the dole i COULDNT get a credit card, im now working and not tried BUT i just got denied £500 credit with Argos to buy my new computer cos i dont have a credit rating
seems even people with a bad credit rating can get more and more credit?

Bold..

In many respects, Credit card companies actually like people like this..
See, the 'debt' on the card is covered by the credit companys insurance so even if the customer doesent pay up, the debt is still paid off by the insurance..... what isnt covered is the interest the customer pays on their debt and that bit is the credit companies 'profit'.. and i reckon that if its around a standard 20%, she is looking at around 15k interest alone.

Whilever she is making repayments, the credit card company is making a profit, and you can bet that the minimum payment per month is well into the hundreds.

And fat people are victims of cake shops, alcoholics victims of pubs, etc.

You have to wilfully get into that much debt. If she'd got one card, maxed that out. Got another, done the same thing. And so on, they'd have picked it up. She obviously hid the amount of debt she was getting into.

generally, cake shops and pubs don't phone you up offering cheap cakes or beer or send invitations to use their services to you every other day.

the credit industry set out to get as many people into as much debt as possible with no regard to the consequences to the borrower.

generally, cake shops and pubs don't phone you up offering cheap cakes or beer or send invitations to use their services to you every other day.
Pub happy hours?

the credit industry set out to get as many people into as much debt as possible with no regard to the consequences to the borrower.
And my point about having to wilfully get into that amount of credit card debt?

The premium on insuring against bad debt for a large card issuer must be humongous though.
Insurance companies aren't known for their generosity.