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 Debts keep thousands awake at night in the UK

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itchyfeet
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PostSubject: Debts keep thousands awake at night in the UK   Wed Mar 30, 2011 2:05 pm

[size=50:24ji0phw]Daily Telegraph

[size=150:24ji0phw]Debt worries keep thousands awake at night

Tens of thousands of people are being kept awake at night by their debt worries, charities warned yesterday.
The squeeze on household incomes has become so “incredibly stressful” that people cannot sleep, they said.
Analysts warned the combination of a rise in the cost of living and pay freezes means the situation will get worse in the months ahead.
Almost 50,000 turned to one leading debt charity for help during the hours between midnight and 7am.
The highest numbers called between midnight and 1am, reaching 15,000, while the fewest called between 4am and 5am at 3,500, according to Consumer Credit Counselling Service. Paula Searle, head of e-services at CCCS, said: “Dealing with unmanageable debt is incredibly stressful so it is not surprising that so many are kept awake worrying about their debts.”

It follows figures showing the biggest rise in insolvencies is among middle-class parents as unemployment and divorce takes its toll.
Numbers rose 45 per cent last year compared with the previous year as the recession seeped into ordinary households.
Ann Robinson, director of Consumer Policy at uSwitch.com, said: “Consumers have seen their pay frozen for the last few years while the cost of running a home and getting to work has soared. This means that we have less pounds in our pockets.
“But with inflation now hitting 4.4 per cent and almost six in ten of the workforce is seeing a pay freeze, households are facing an uphill struggle that may only get tougher next year. By this time next year, the squeeze on our spending power could look a lot worse.”

. . . and the reason . . .
The latest City and business news on an International Energy Agency estimate that OPEC members will reap $1,000bn of revenues this year;
the Euro zone's most heavily indebted countries, such as Greece, Portugal and Ireland see borrowing rates soar after further credit downgrades.

No surprise there either!!

s s s s
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PostSubject: Re: Debts keep thousands awake at night in the UK   Wed Mar 30, 2011 3:01 pm

@itchyfeet wrote:
Debt worries keep thousands awake at night

Probably keeps them awake during the day as well s s s s
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PostSubject: Re: Debts keep thousands awake at night in the UK   Wed Mar 30, 2011 10:13 pm

here here
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davshaz
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PostSubject: Re: Debts keep thousands awake at night in the UK   Fri Apr 01, 2011 3:06 pm

I think this is just the tip of the iceberg and we will see more terrible things in the future with things like people taking their own lives because they can not find any solution to their debt problems.
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PostSubject: Re: Debts keep thousands awake at night in the UK   Mon Sep 12, 2011 12:42 pm

When I was a young whipper snapper (about 12 years ago) I made the error of getting into debt in Dubai where your jailed for bouncing a cheque, in the uk however If you get into major debt which you know you can't pay off you lose your house and most of your belongings, crap for sure but no doubt a weight off your shoulders touch wood apart from 73 pounds sky chase me for for cancelling a dd when I moved I have not experienced it, all I want to say here is that, while debt can be stressful, if the worst case senario is they grab what you have and make your a free man a year later, is that such a bad senario?
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PostSubject: Re: Debts keep thousands awake at night in the UK   Wed Sep 14, 2011 9:15 am

People should live within their means. What you can't afford you can't have. Bu**er keeping up with the Jones. When we first started out we had second hand or stuff that had been donated by friends and family. My father always said only ever have one thing on 'tick' at one time and then only if you could comfortably afford to re-pay it.

First bit of advice is that if you are in debt then cut up the credit card

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PostSubject: Re: Debts keep thousands awake at night in the UK   Wed Sep 14, 2011 9:30 am

[You must be registered and logged in to see this link.] wrote:
People should live within their means. What you can't afford you can't have. Bu**er keeping up with the Jones. When we first started out we had second hand or stuff that had been donated by friends and family. My father always said only ever have one thing on 'tick' at one time and then only if you could comfortably afford to re-pay it.

First bit of advice is that if you are in debt then cut up the credit card

What about the people who put you into debt through no fault of your own. :Very sad:How do you overcome that major problem ????????????????
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PostSubject: Re: Debts keep thousands awake at night in the UK   Wed Sep 14, 2011 10:35 am

[You must be registered and logged in to see this link.] wrote:
[You must be registered and logged in to see this link.] wrote:
People should live within their means. What you can't afford you can't have. Bu**er keeping up with the Jones. When we first started out we had second hand or stuff that had been donated by friends and family. My father always said only ever have one thing on 'tick' at one time and then only if you could comfortably afford to re-pay it.

First bit of advice is that if you are in debt then cut up the credit card

What about the people who put you into debt through no fault of your own. :Very sad:How do you overcome that major problem ????????????????


Everyone's circumstances are different, debt is rarely chosen as a way of life, as such not really anyone's place to tar all those in debt with the same brush sure you have those that "
keep up with the joneses"
but also those who are pushed into it by circumstance and cutting up a credit card is not always a clear cut solution, as I say though in my previous post no matter what is it is never THAT bad as your worst case senario is just to start again, depending on the way of looking at it if your in a deep deep hole regardless of why and you can't get out stop digging and let them take it all material possessions are easily replaced after all
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PostSubject: Re: Debts keep thousands awake at night in the UK   Wed Sep 14, 2011 12:33 pm

Everyone's circumstances are different, debt is rarely chosen as a way of life, as such not really anyone's place to tar all those in debt with the same brush sure you have those that "
keep up with the joneses"
but also those who are pushed into it by circumstance and cutting up a credit card is not always a clear cut solution, as I say though in my previous post no matter what is it is never THAT bad as your worst case senario is just to start again, depending on the way of looking at it if your in a deep deep hole regardless of why and you can't get out stop digging and let them take it all material possessions are easily replaced after all


Oh dear farhaad how wrong can you be. This is a typical attitude that causes a 'Boom &
Bust'. When bailiffs come in they do not recover the costs of outstanding debts and by declaring bankruptcy it only makes matters worse. So who pays for any outstanding debts that are left, the banks. Then subsequently us the tax payer. Yes willowsend is right there are occasions when people get into debt through no fault of their own E.G. Rising interest rates, negative equity etc. Back in the early 70's we had somewhat similar event where by interest rates kept going up and up but the majority of us pulled our belts in and got on with it, we did not expect others to pay our debts in fact we had pride. I have some young family members that have this attitude, that when the going gets rough then let someone else bail you out, but what happens when the pot runs dry, and the benefactors say enough is enough? Iknow Lets all riot and loot that will solve all the problems. End of rant!!!!

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PostSubject: Re: Debts keep thousands awake at night in the UK   Wed Sep 14, 2011 12:51 pm

I totally agree with youi do nit call it a perfect situation but, it isn't the 70's I was nit around then so for me to assume I knew what it is like would be arrogance on my part, but to correct you the banks don't cover it the insurance companies do, wether we choose to admit it or not debt is what makes the world go round rightly or wrongly, the point I was making before was targeted towards those on the edge, the famiies who simply cannot "
tighten"
the belt, touch wood I have been a miser since birth and my debt level has always stuck under £100, but I have seen good mates working and then losing their jobs they did not plan it and bankruptcy was the only option available, yeah me and you end up bailing them out but, I would much rather be annoyed with those who leech benefits when they have not paid a single penny in tax towards it, debts nasty but suffice it to say it is never a selected lifestyle ( mostly) if my taxer payer money goes to someone down on their luck and gives them a chance to start over hey no problem, if my tax money goes to those who come with a multitude of children simply to live off the benefits my taxes pay for because they are too lazy to work in their own countries that I have a huge issue with
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PostSubject: Re: Debts keep thousands awake at night in the UK   Wed Sep 14, 2011 1:31 pm

[You must be registered and logged in to see this link.] wrote:
I totally agree with youi do nit call it a perfect situation but, it isn't the 70's I was nit around then so for me to assume I knew what it is like would be arrogance on my part, but to correct you the banks don't cover it the insurance companies do, wether we choose to admit it or not debt is what makes the world go round rightly or wrongly, the point I was making before was targeted towards those on the edge, the famiies who simply cannot "
tighten"
the belt, touch wood I have been a miser since birth and my debt level has always stuck under £100, but I have seen good mates working and then losing their jobs they did not plan it and bankruptcy was the only option available, yeah me and you end up bailing them out but, I would much rather be annoyed with those who leech benefits when they have not paid a single penny in tax towards it, debts nasty but suffice it to say it is never a selected lifestyle ( mostly) if my taxer payer money goes to someone down on their luck and gives them a chance to start over hey no problem, if my tax money goes to those who come with a multitude of children simply to live off the benefits my taxes pay for because they are too lazy to work in their own countries that I have a huge issue with

Insurance companies or Banks we still pick up the tab . I like your comments about those with bad luck and also about the lazy society. Everyone is entitled to their opinions hence why we have free speech. Nice to see a newbie getting involved in discussions g

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PostSubject: Re: Debts keep thousands awake at night in the UK   Wed Sep 14, 2011 1:46 pm

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PostSubject: Re: Debts keep thousands awake at night in the UK   Wed Sep 14, 2011 2:58 pm

No to sure about the banks picking up the tab? if you recall it was the tax payer who picked up the tab for the banks
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PostSubject: Re: Debts keep thousands awake at night in the UK   Wed Sep 14, 2011 3:40 pm

[You must be registered and logged in to see this link.] wrote:
No to sure about the banks picking up the tab? if you recall it was the tax payer who picked up the tab for the banks

That was the point I am getting at. First it is the Insurance companies then the Banks it all goes t**s up then its poor little Mr &
Mrs Britain T

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