debt, wtf is happening ?

[ste_bla]

I am the sort of person who saves up and pays for items if I have the money and dont really use credit. I have some CC cards as you get a certain % off transactions if you open an account. So I actually had a look at what I have and was amazed to find out I had 5 CC's and 2 credit accounts/Facilities!!

Total £5000 at the moment

Plus the bank (Natwest) kepp telling me (letters) I amalready accepted for a loan for upto £7500 with no questions asked and can just walk in and 15 mins later walk out with it!

Now I keep seeing the threads saying banks over charging, beat the banks, record debt etc. and am wondering wtf is going on with life today? Does everyone live on credit or something??

Also I had an idea, a I'm moving in a year and half abroad what would stop me from rinsing the accounts and not paying back? How long would it take for them the write it off? Could they come abroad and find me?

One other question is not using them some how damaging my credit rating should I close some?

 

[ste_bla]

A sense of what's right and wrong hopefully?

I know . But then all these people who get debts paid off for them by the banks because they cant afford it really annoys me so i think what the hell why not everyone else is tbh.

everyone with a house or car mostly needs credit or some sort of finance because not many people can offord a 120 k house just out their back pocket.

Ah yeah I know you need to borrow for a mortgage..

 

[ste_bla]

Personally I think anyone with several CCs and loans needs to get a consolidation loan ASAP and sort them out, I did it 5 years ago, best decision I ever made.

Ah yes, I had a friend who did that, however due to the lack of self control went out and maxed the cards again!