Bad credit. Loads of people who post on here have "bad credit"?

is it time for the banks to be forced into being more restrictive in their lending? They seem to lend to loads of people who are likely to default on loans and then put up charges for those who do not default. Also should STORE CARDS that charge obscene rates of interest be restricted? I was in BHS yesterday, paying cash, and had the offer of store card without asking for it. If the govt. wanted they could force stores to charge 锟?0 for these cards, which would cut back on the issue of credit to those who cannot afford it.

Bad credit. Loads of people who post on here have %26quot;bad credit%26quot;?business loan

I think the staff in store are obviously on commission to get you to sign up for a card, usually with the %26#039;lure%26#039; of 10% off. I agree they should be more restricted, but what I am fed up with is people that get into debt winging and complaining that the credit companies forced them into it. Yeah, right. Not the credit company%26#039;s fault you wanted the item there and then and didn%26#039;t want to wait. It%26#039;s a bit about being a grown up, isn%26#039;t it?

Bad credit. Loads of people who post on here have %26quot;bad credit%26quot;? loan

i agree with you ..!!|||lets remember that people should not live beyond their means......its not all the banks fault|||Its sods law, they offer you credit on a store card when you dont need it. But as soon as you go into your bank and ask for a loan for something sensible like buying a car or setting up a business they wont let you have it!|||Spoken like a true socialist. Let%26#039;s look to the government for an answer. Don%26#039;t blame the people with the bad credit, blame the companies that offer the service. Wait on the government to save us from ourselves.

The market will, in time, take care of the lenders that loan money to bad credit risks by forcing them to change/adapt or possibly even go out of business. The lenders that don%26#039;t charge the high rates and fees will eventually have all the good customers and the others will be forced to leave the market or change their ways.

I personally use only one credit card for emergencies and no store cards with their high rates. If everyone did this then the lenders would have to find another way to earn their money.|||The banks should be more responsible in lending and as for store cards yes they should go altogether along with credit cards the only ones we should have are debit cards or good old fashion cash

I think a lot of us are paying for people who have gotten out of control and can not or will not pay their way|||There is so much money made from interest and administration charges on overdrafts,loans,credit cards,store cards that the financial people urge us to continually borrow more and more to keep the money rolling in to ever higher and higher profits.Nobody is going to worry about the people that are seriously in debt.The trend is for them to get badly into debt then get offered loans at much higher terms. The financial people are not worried if the person is in debt for the rest of their life.They will probably recoup their money from the estate when the person dies.At the end of the day the only person who can control this is the individual who refuses to be in debt and does not borrow,have credit cards,store cards or overdrafts or bank loans.The only thing they possibly allow is the mortgage on their house, and they make sure that the payments on this are up to date.It is called good financial management and people must live within their means. If you don%26#039;t earn the money ,you can%26#039;t have the item or the holiday. You have to do without.We don%26#039;t all earn the same so we can%26#039;t all have the same, but a lot of people won%26#039;t accept this. They want what other people have, whether they can afford it or not and that is where the problem lies.|||If I%26#039;m an adult, I%26#039;m expected to be responsible for my own actions. If I manage to wrangle a loan out of a bank, or a store card out of a company, I have only myself to blame if I don%26#039;t keep up the repayments. I don%26#039;t think I can blame the lending institutions if I%26#039;m in denial about my spending habits...

I hate the thought of owing money to anyone, and am currently in need of a major cash injection into my house. I%26#039;ve spent the last hour figuring out how to do it without taking out a loan, and have just settled on the ways and means - basically, not doing it all at once, and using savings plus dedicated amounts of my pay cheques for the next four or five months. Trouble is, I think many people just apply straightaway for the loan option, and don%26#039;t even really think about it. Add to that a little overspending on the credit card, and you%26#039;re already on a slippery slope.

No, I don%26#039;t think the banks should change anything, I think people should be more responsible.|||Yes I agree , but banks make money out of debt , untill that stops they will carry on letting people get into debt.