A bleak Christmas for low paid permies

[Pig]

"The problem is that they saved using inherently flawed risky way and now they got burnt."

What your saying then is they have got what they deserve? Please feel free to go into the poorest areas (which you will find are the main affected areas) and voice your derision of the way they have saved. Book yourself an ambulance first, coz you'll need it.

So please explain what the "inherently flawed risky way" is? As the company had been trading since 1969 with no major problems do not understand what you mean!

Just for your information I also live on a very small budget and it is totally out of choice. Or could be I'm just a tight ******!!

[AtW]

Did they get what they deserved? Probably - life is full of lessons, and this is one of them.

The fact that the company traded for long time is irrelevant - money in the bank are safer than in any private non-regulated-bank company because they are insured and there are serious controls there.

Anyway piggy, you bore me now.

[Pig]

What? Unregulated maybe where you come from but not over here I am afraid. You need to stop walking on yours then you'll stop talking a lot of sh1t!!

Whats up don't you like my questions you have such an opinionated views but no answers when going gets tough.I can see now why you are treated with contempt. Do you ever answer anything? So you going to go and tell everyone that they are tw@ts for saving with them? Don't think you will your just amoronic bigot!!!!

Bye bye little one talk when you grow up

[Pig]

What? Unregulated maybe where you come from but not over here I am afraid. You need to stop walking on your HANDS then you'll stop talking a lot of sh1t!!

[lukemg]

Woah, easy there pig, it's a discussion. Now, you are correct in that the only thing AtW should bring to most discussions is silence but he does have a point. Of course these schemes are aimed at the poorest people, as the usual pay per week scams are (quality drama about this a few years back with that chap from 'the lakes' in). Such schemes would only appeal to them and the tragedy is they are the least able to recover from something like this happening. It's hard when you have cash coming in, to realise that the majority of the population live hand to mouth, scraping by each week and we are in a rich country. My view is that anyone who is here or comes here, goes out to work and makes some contribution to society without leaching off, thieving off or assaulting the rest of us is entitled to respect and if people like this have been turned over by this scheme I have every sympathy.

[AtW]

I have every sympathy.

There are plenty of people who offer sympathy - you are one of them. Someone has to say the tough but right words so that in the future there would be no need for such sympathy to be expressed in the first place because bad event would not take place at all.

Saving money is good. Saving money for some purchases is great attitude. Saving money every month, however little it is is fantastic and should be encouraged.

But people who save should not fall for scams with those clubs or what not - put money into bank account and learn to act responsibly and not touch them in the first place: buy savings stamps if you can't handle having cash around.

[Pig]

Woah, easy there pig, it's a discussion. Now, you are correct in that the only thing AtW should bring to most discussions is silence but he does have a point. Of course these schemes are aimed at the poorest people, as the usual pay per week scams are (quality drama about this a few years back with that chap from 'the lakes' in). Such schemes would only appeal to them and the tragedy is they are the least able to recover from something like this happening. It's hard when you have cash coming in, to realise that the majority of the population live hand to mouth, scraping by each week and we are in a rich country. My view is that anyone who is here or comes here, goes out to work and makes some contribution to society without leaching off, thieving off or assaulting the rest of us is entitled to respect and if people like this have been turned over by this scheme I have every sympathy.

Nicely put lukemg definitely better eloquence then I can muster. I am afraid I grew up in an area were this type off thing went on all the time (still do in fact). Very close to what I was trying to put across they are not quite a scam but not far off, a brilliant constructed con. But I cannot see how "savings stamps" will be of any benefit to them as they are redeemable at any time not just at a speciifed time and this is the point I was making.

Now I personnally do not have a problem with people who want to make a contribution to society but again they are the one's who have been shafted. The one's who don't / won't cotribute that's a different question & answer.

[tim123]

Woah, easy there pig, it's a discussion. Now, you are correct in that the only thing AtW should bring to most discussions is silence but he does have a point. Of course these schemes are aimed at the poorest people, as the usual pay per week scams are (quality drama about this a few years back with that chap from 'the lakes' in). Such schemes would only appeal to them and the tragedy is they are the least able to recover from something like this happening. It's hard when you have cash coming in, to realise that the majority of the population live hand to mouth, scraping by each week and we are in a rich country. My view is that anyone who is here or comes here, goes out to work and makes some contribution to society without leaching off, thieving off or assaulting the rest of us is entitled to respect and if people like this have been turned over by this scheme I have every sympathy.

The problem with a scheme like this is that it is an anachronism, with fixed costs based upon a time when it was the only way of saving.

Now that there are better ways (as AtW points out), less people use it but the costs remain the same.

I doubt that the company did anything to deliberately lose this money, but they certainly should have looked at their income stream, realised that it was on an inevitable downward trend and if they couldn't do anything to diversify their sales channels, pack up voluntarily before they went bust.

tim

[lukemg]

Cheers Pig, sounded like you had a more personal interest in this story. I am not from such an area but I know how the world works. When younger I had a much more selfish, tough sh1t, they are stupid attitude to stuff but the picture is far more complex than that.
Having said that, I do still tend towards the selfish. While wishing everyone well, my plan is always to earn enough to live somewhere half decent away from the sprawling masses. After a couple of tough years money-wise (not in comparison to most of the population mind) I guess I can see how precarious it can be and how you can get dragged into problems (e.g. divorce, job loss and the house of cards collapses on people living too close to the edge). Note: this isn't me I am coining it and look to be set till next may !

[Pig]

Cheers Pig, sounded like you had a more personal interest in this story. I am not from such an area but I know how the world works. When younger I had a much more selfish, tough sh1t, they are stupid attitude to stuff but the picture is far more complex than that.
Having said that, I do still tend towards the selfish. While wishing everyone well, my plan is always to earn enough to live somewhere half decent away from the sprawling masses. After a couple of tough years money-wise (not in comparison to most of the population mind) I guess I can see how precarious it can be and how you can get dragged into problems (e.g. divorce, job loss and the house of cards collapses on people living too close to the edge). Note: this isn't me I am coining it and look to be set till next may !

No personal interest just don't like seeing people lose their money, would be like my client not paying me, think I would be more than a little upset. But unlike their clients I can cover the loses just would not be happy about it.

Belief me I'm just as selfish but a good percentage of the population can not get loans / credit cards. Where as saving the money in the bank and be strong willed enough not to touch is a rarity. And savings stamps are redeemable anytime so again you need a strong will. I could probably manage it but that's coz I don't like spending money!!!