![[TW]Fox](/data/man-of-honor/2009.png){kind=avatar}
So setup an arranged overdraft or speak to your bank manager about ways to help you. Don't just blindly spend and then bitch, cry and moan when you get charged for breaking the terms of your bank account.
Today's the day...
- Thread starter platypus
- Start date
So setup an arranged overdraft or speak to your bank manager about ways to help you. Don't just blindly spend and then bitch, cry and moan when you get charged for breaking the terms of your bank account.
i find it hard to live at home earning on 9k a year!! and i dont have mortgage etc to pay!!! spending £300 a month on petrol. doesnt leave a great deal. with money to mum and dad as lodge etc. thats how i got in trouble, and then it snowballs. have on charge, and then that extra that is missing the next month screws you over again
Soldato
Well I'm sure we end up footing the bill for the banks somehow, either as customers or taxpayers!
I don't understand our culture anymore, those that make bad decision and get themselves in horrible debt seem to have no responsibility for their actions, that goes for individuals as well as huge banks!
So as an individual it's a double whammy, I will end up paying as an individual customer for other bad debt and as a taxpayer for Northern Rock and the rest of the banking system
Crazy!
HEADRAT
It's a double edged sword really...When I was in Uni I was in debt for 4 years (as 99% of students are!). I had a part time job in 3 out of the 4 years and tried my best to keep on the right side of the banks, but I got very frustrated toward the end of my time at Uni as I was being charge an absolute fortune.
In the end I claimed all the money back from my bank and it was very satisfying indeed. I now am in no debt whatsoever and intend to keep it that way until I get a mortgage in 18months or so...
Soldato
[TW]Fox;11560898 said:
It's not though....
Soldato
[TW]Fox;11560981 said:
In an ideal world yes you would do that. Have you ever been in a situation where you literally have no money for food, clothes etc and then something serious happens like a major car fault ? You dont have time to ring up your bank manager... if your child needs picking up from school you get your car fixed and you go pick up your child. Simple as.
Not everything is as cut and dry as you make out. God if it was the world would be a much better place but not everything runs like clockwork and you know it.
Soldato
£9k a year is a very low wage though im not surprised you find it hard.
exactly.
why cant they just stop giving the money that you dont have?
you have a limit of say £400 you get to the £400 and they still are happy to let you spend more, even though its not agreed
Soldato
Why can't they just have a standard but fair penalty charge like with credit cards (£16 limit)
Because they're a business and can charge whatever they like for their services?
The ruling has gone against them, as I understand it, because of the way they chose to describe and defend that charge rather than because charges are unacceptable.
Andrew McP
i know. but there aint much i can do about it
Because then they can charge you for it !!!
Soldato
I think that's a different issue mate as money management comes into it in that instance. I am saying that the cost incured by the bank is less than £2 for a bounced cheque they 'pass this on to the customer' as a £39 'penalty charge' - that is simply unlawful and the test case has agreed with this.
There is and there isn't plenty of variation.
The High street banks, against which this case is levied, have colluded on charges and the like for a very long time.
Soldato
Its hardly unfair, the bank has had to lend you money for which you should be charged for.
Soldato
Or... here's a great idea... why not prevent the consumer borrowing more money than they can afford ??
id rather stand there in a shop and the card get declined!! rather than it go through to find out i've now got a charge to come!!
with lloyds now they charge you £6 a day if you are under £25 over the limit. over that it does up to £15 a day, and over £50 its something like £20 (i think) they stick a £15 admin charge on top of that.
now most people go over there limit when there wages have been spent, so they will then have no money to put right that mistake untill next pay day. say thats 10 days away, means you could be charged over £200 in one wack. then say a DD is returned thats another £60.
soon adds up
Or... here's a great idea... why not prevent the consumer borrowing more money than they can afford ??
Excellent idea... now how are the banks going to make the money off you that would have come from the charges associated with overborrowing... they will charge you, me and everyone else some steath charge associated with something else!
Soldato
They make enough money by just having our money in their coffers and investing with it no doubt.
They obviously don't think so, hence the charges...