Just In...OFT wins

[Bagpuss]

Typical of the irresponsible lending culture that has resulted in the sub prime fiasco



It's their duty to shackle them into a downward spiral of unmanageable debt they can't get out of any time soon.





Sorry Baggy - they will end up making people like you pay for this so they can maintain their margins. It's not fair I know.

Why can't life just be fair??!!

I think the fairness/blame culture applies the other way around with the fheckless the ones shouting unfair. You are advocating a system more akin to new Labour's socialism, i.e. those with money should be taxed to pay for those without. The ones being charged 100s were the persistant offenders, you choose to live beyond your means then you suffer the consequences, there have always been solutions for those willing to try. We will have to agree to disagree on this one I'm afraid.

[Jog On]

I think the fairness/blame culture applies the other way around with the fheckless the ones shouting unfair. You are advocating a system more akin to new Labour's socialism, i.e. those with money should be taxed to pay for those without. The ones being charged 100s were the persistant offenders, you choose to live beyond your means then you suffer the consequences, there have always been solutions for those willing to try. We will have to agree to disagree on this one I'm afraid.

I completely agree that those with money shouldn’t be taxed to pay for those without, I believe the banks should pay for this without passing costs on to the consumer, although we all know they won’t even though they can and still make a healthy profit.

I’m happy to agree to disagree as since those dark days ‘in the hole’ I have passed over to the other side of the fence.

I’ll still claim my charges back though – I’m working the 0% system to pay off all my bad debt ASAP and a nice windfall like that will speed things up somewhat

[KathyWoolfe]

I have no problem with banks making a "fair" charge for their services, be it bank accounts, credit cards, overdrafts etc. What is being (or should be) debated here is what people consider "fair".

I consider a charge of £30+ for going over your overdrdraft by as little as 1p far too excessive and the banks etc should be prevented from just dreaming up a figure they're going to charge and applying it.

Why not link the charges to the base bank lending rate in the same way that loans are (should be), as what the over-limit amount is, is technically a loan?