Attitudes to debt & providers.

[Fred]

:beagle: Just a few opinions if you can;

1) Do you think our debt laws are out of date & need greater emphasis on balance or should they become tighter & give greater control to the providers ?

2) Do you have any faith or confidence in our regulation of the financial market (especially loans) & their abilities to control big organisations without influence ?

3) Do you think it is embarrassing to admit making a mistake on finance & hence sweep it under the carpet ?

4) Do you feel it is difficult to complain e.g; "beaten before you start"............do you get the impression the big institutions are always right & you don't have a chance ?

aw:

[FlamingParrot]

Re: Attitudes to debt & providers.

1) Do you think our debt laws are out of date & need greater emphasis on balance or should they become tighter & give greater control to the providers ?

Not sure about this question, by providers, do you mean creditors?

2) Do you have any faith or confidence in our regulation of the financial market (especially loans) & their abilities to control big organisations without influence ?

NO! :nono: Nobody wants to 'upset the City'.

3) Do you think it is embarrassing to admit making a mistake on finance & hence sweep it under the carpet ?

It shouldn't be, we all make mistakes, including the Big Bad Banks, just look at how many non-compliant agreements were issued, and don't get me started on the storecards turned credit cards... :grin:

4) Do you feel it is difficult to complain e.g; "beaten before you start"............do you get the impression the big institutions are always right & you don't have a chance ?

They are not always right but they are arrogant and seem to think they are. With regards to complaining, the FOS is as much use as the proverbial chocolate teapot!

[meellis]

Re: Attitudes to debt & providers.

1) Do you think our debt laws are out of date & need greater emphasis on balance or should they become tighter & give greater control to the providers ?

A realistic look at peoples debt is required so that it can be cleared as efficiently as possible without resorting to excessive charges or force. People shouldn't be able to walk away to easily but creditors shouldn't also be able to sell the debt on to easily or cheaply for a DCA to get aggressive over. If a creditor can package up a debt cheaply then it should be offered to the debtor first.

2) Do you have any faith or confidence in our regulation of the financial market (especially loans) & their abilities to control big organisations without influence ?

They are over stretched, under funded and gutless.

3) Do you think it is embarrassing to admit making a mistake on finance & hence sweep it under the carpet ?

I think it is all to easy to believe you made a mistake and general opinion goes against you so it is harder to be honest and get on with dealing with it.

4) Do you feel it is difficult to complain e.g; "beaten before you start"............do you get the impression the big institutions are always right & you don't have a chance ?

It is a complex situation that leaves you daunted and bewildered and I believe it is kept that way for a reason. When you research, including great sites like this, you read too many posts of experts losing or situations that should only have one outcome but don't get it due to technicalities. Logic never wins, honesty seldom wins but greater financial clout usually wins.

[MIKE770]

Re: Attitudes to debt & providers.

as with all laws/legislation the DJ !s are able to flaunt the rules/regulation, if a case goes to Appeal the sitting judge will just state the DJ xxxx mislead themselves, there is no real watchdog which a consumer can be happy to deal with the same goes for the so called self Regulation Authorities for Barristers and Solicitors, none are independant, remember Money Rules at Westminster!