General comment about mortgage arrears

[EXC]

Re: General comment about mortgage arrears

Tell me, do you have a brother called Dave by any chance?

[Amethyst]

Re: General comment about mortgage arrears

Shall we try and keep away from the personal snipes and insults on this thread - a healthy discussion and different points of view and opinions is great. If we could keep personal gripes private, or if anyone feels they would like a mediated discussion we do have the Kennels available where it won't affect the rest of the forum. Just let me, or Tools, know.

Thank you.

Ame
xxx

[scoobydoo]

Re: General comment about mortgage arrears

Oh dear seems like Gordon agrees - The banks and BS should be taking a longer term view in the current finacial climate - and not being hasty over possessions.

Good.

Lets also hope in return for the financial assistance to bail the banks out he gets some assurances about future lending ratios etc . I am sure the taxpayers will be looking to him to get something in return.

[righty]

Re: General comment about mortgage arrears

Oh my goodness graces me........another person who thinks no one should buy a decent TV, car, home, clothes, furnishings, holiday abroad just in case at some point in the future they might be made redundant, be ill or get divorced.

Gawd if we all went around thinking & living like that this country would be even more of a miserable bankrupt than it is now

[scoobydoo]

Re: General comment about mortgage arrears

Who me?

Or the previous poster?

[righty]

Re: General comment about mortgage arrears

No not you................whatisface Argy bargy or summat

[scoobydoo]

Re: General comment about mortgage arrears

:tinysmile_grin_t:

[argentarius]

Re: General comment about mortgage arrears

Oh my goodness graces me........another person who thinks no one should buy a decent TV, car, home, clothes, furnishings, holiday abroad just in case at some point in the future they might be made redundant, be ill or get divorced.

Gawd if we all went around thinking & living like that this country would be even more of a miserable bankrupt than it is now

But you don't have to buy any of those things on credit. It's not having good things which is wrong, it's buying good things when you can't really afford them.

Buying a decent car on credit sort of makes sense - you can always sell it and pay off most of the debt if circumstances change. But for consumable items like everything else you mention (apart from home) the second-hand value is next to nothing so funding such purchases on debt is a risky way to live.

If finances are so precarious that redundancy or illness will lead to inability to repay, it's easy (and cheap - if using the right suppliers) to get appropriate insurance to ensure repayments can be maintained.

Divorce/relationship breakdown more generally is definitely the difficult one as it's not insurable against.

[righty]

Re: General comment about mortgage arrears

My Gawd now your advocating PPI What on earth are you doing here

[Amethyst]

Re: General comment about mortgage arrears

I'd advocate PPI if it is suitable for your needs. Standalone products not the ones offered by the various card/loan providers - and ensure that you check that it does cover you for what you need/may need in the future.

However if your finances are 'precarious' and you will have an inability to cover payments for a couple months should the worst happen, then I would just advise against taking any credit in the first place to be honest.

Credit shouldnt be taken on a I can just about manage that so long as nothing changes assumption.

[righty]

Re: General comment about mortgage arrears

Have you ever known one pay out........without a protracted battle

[stevokenevo]

Re: General comment about mortgage arrears

ive followed you around a couple of threads righty, you appear to be a tad bitter today :whistle:

[righty]

Re: General comment about mortgage arrears

ive followed you around a couple of threads righty, you appear to be a tad bitter today :whistle:

That's my default position

It might change though read this

http://news.bbc.co.uk/1/hi/business/7362856.stm

[Paule]

Re: General comment about mortgage arrears

I agree that PPI is good, if YOU compare the market and not just take the loan/finance/goods providers recomended PPI

There are many places out there that do this cover or ots equivalent , be it under different guises.
I believe the Post Office do one called 'Lifestyle Protection'

I also agree that by entering into any financial comittment, you do so with open eyes and be blinded by the 'Must Have' product, they you will regret when the payments get to much.

Remeber that if you can only just afford the payments now, even if they are fixed, a lot of your other monthly payments WILL increase, ie Council Tax, Water Rates, Insurance, Car tax etc. If all these increase, as they usually do, at the same time you can soon come unstuck with payments for the item you desperatley wanted a year ago.

PKea

[argentarius]

Re: General comment about mortgage arrears

Thanks for the reasonable responses. Apart from

My Gawd now your advocating PPI What on earth are you doing here

which rather typifies the attitude of some on LB to every issue.

If you really can't afford to keep up repayments on a loan for something "unnecessary" for a few months, if you have a change in circumstances, then I take Ame's view that you shouldn't be buying it.

But if you are financially secure enough to keep paying for a few months, but not for 12 months (say) then PPI definitely makes sense.

PPI is not very expensive, if bought direct, and insurers do pay up for those who actually meet the policy conditions.