Quote:
Originally Posted by Jaymoss
again it is not a one size fits all but I will tell you what happened to me a number of years and risk your judgement
I suffer from quite severe anxiety and depression and have done since I was a child. About 8 or 9 years ago I got into trouble I was going through a real bad time and got comfort buying nice things. I was on a low income but companies were throwing credit at me hand over fist a lot of it buy now pay later over about a year I accrued £16k debt and had no way of paying it off. I wanted to kill myself. I was fortunate enough to find out about IVAs and took one out. Paid 6K off over 5 years living on next to nothing and the rest was cleared.
Yes a number of firms lost money and yes I was to blame for the spending but they were responsible for facilitating that spending. They all did credit checks and all the agencies know employment status yet they still in some cases gave me 1000s of pounds credit.
I have no sympathy with energy firms they make billions and I have no sympathy for credit companies that do not loan responsibly.
Judge me how you will it matters not
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The energy SUPPLIERS are NOT making billions. They are OWED £3bn.
They are restricted in being able to raise prices and are not allowed to cut people off.
The lenders of money that doesn't get paid back, raise their interest rates for everybody else and/or reduce rates for savers. Same principle, others pay for non-payments.