Thought Id start this one going because its rather dead on this board at the moment and I suppose all my usual muckers are either at the Stella tennis event watching Dim Tim (lose again) or at Henly Regatta eating cucumber sandwiches (they wish,...NOT).

Anyway please feel free to just talk to yourself blast away and let it go on any company or subject you wish. Just wish Id thought of this one before.

cheers GF.

Another one of Cameron's mates?

Shows sure footed leadership!

======

Quango boss appointed by David Cameron resigns after it ...
www.telegraph.co.uk › News › Politics
10 hours ago - Tony Caplin, the former head of the Public Works Loans Board, resigned on Saturday night after it emerged he was declared bankrupt in 2012.

How many aiders and little helpers at No 10 has Wavy Dave to lose?

universal morality - the simple dictum of do as you would be done by works pretty well

eu election gloating - while i'm sure it is true that the tories will get a very bloody nose in the eu elections, it would be foolish and wishful thinking of their opponents to believe that this will de facto translate into general election results - unless the tories are even more stupid and incompetent than even they have managed to show so far .... neverthless, the tories assuredly need to take note and accept the upcoming result as a significant blast of warning across the bows

mind you, the labour party has not shown itself to be much of an alternative either, so perhaps it will merely be a case of which of those two parties can put itself across as being the lesser bunch of nincompoops

Or
Do unto others before they do it to you

http://www.dailymail.co.uk/news/article-2608606/No-ID-no-checks-vouchers-sob-stories-The-truth-shock-food-bank-claims.html

No ID, no checks... and vouchers for sob stories: The truth behind those shock food bank claims

Mail on Sunday undercover film exposes abuse of charity
Scroungers flout Trussell Trust's '9 visits' rule to stock up
Repeat visits undermine the Trust's claim of 913,000 users

Volunteers for a charity that blames welfare cuts for the soaring use of its food banks have admitted that fraudsters routinely ‘take advantage’ of the handouts.

The Trussell Trust, the UK’s biggest provider of food banks – which highlighted a ‘shocking’ rise in demand for emergency food packages last week – last night pledged to investigate after volunteers were filmed admitting that people could take free food without checks, and that many visitors were asylum-seekers.

One worker at a bank run by the trust said that people regularly ‘bounce around’ locations to receive more vouchers than they are entitled to.

A Mail on Sunday investigation has also found inadequate checks on who claims the vouchers, after a reporter obtained three days’ worth of food simply by telling staff at a Citizen’s Advice Bureau – without any proof – that he was unemployed.

Undercover reporters posing as volunteers at food banks in London and Nottinghamshire also found:

Staff at one centre gave food parcels to a woman who had visited nine times in just four months, despite that particular centre’s own rules stipulating that individuals should claim no more than three parcels a year.
Volunteers revealed that increased awareness of food banks is driving a rise in their use.
Staff at a supermarket, where shoppers are encouraged to buy extra food and donate it to a local food bank, were alleged to be later turning up to claim the food themselves.

Manuel,

"cynic Send an email to cynic View cynic's profile - 20 Apr 2014 13:47 - 39757 of 39759

universal morality - the simple dictum of do as you would be done by works pretty well"


I am a masochist that is why I read your posts.

8-)

I find it difficult to credit anything that the Daily Wail prints!

All your problems solved.




Representative Example: Borrow £550 and pay £98.54 per month for 12 months at a fixed interest rate of 172% per year.1 The total charge for credit is £632.50 (all interest). The Total Repayable is £1182.50. 399% APR Representative.



https://www.poundstopocket.co.uk/

That's not bad considering the default rate of loans to bad risk customers. These types of providers are third line credit. First line credit is typically banks, second line are consumer credit such as credit cards and hire purchase. Third line credit loans go bad at a very high rate. They are usually unsecured. If you subtract the bad debts and cost of debt collection and write offs the profit is not that high. I used to work in designing and developing computer systems for second line credit in the UK, Holland Germany. The default rate in second line credit is pretty bad as well, especially in times of recession. If these third line credit companies have their charges capped then the majority will close up. That may seem to be a good thing, but it will mean no access to credit for large numbers of people.

no access to credit for large numbers of people -which is almost certainly a good thing .... i'm afraid there are an awful lot of people who do not regard debt as being real money, which of course is why their problems easily go from bad to worse to dire

I agree with you about many people's attitude to debt. That is the reason that these credit companies have to charge very high rates of interest. If you slap down this type of credit, you will drive people into the hands of loan sharks, which will be a much worse proposition.

399% APR IS loan sharking, what else would you call it?

A loan shark would be much more. That's what high risk credit costs.If people don't want to use the service then that is up to them.

I begin to wonder what type of person would willingly use this type of service.

They must be truly desperate.



Which leads to another possible solution, cos paying that sort of interest rate means people staying in debt forever.


Why cant the gov lend money at a sensible rate to people who find themselves in a tight spot. Anyone going for a loan like whats offered in likely to be on benefits of some sort. A loan could be made and recovered by a small deduction from the handouts they receive.

No way of avoiding repayment with that arrangement.

max - one of your truly preposterous preposterous pronouncements i'm afraid

Max,

I agree with you and the debt companies are stoking up trouble.

Hays and Manuel are too feeble minded to understand that.

It would in the end be more efficient for have a government agency control such lending arrangements,

But again it is profiting those who have.

It is a wonder that Hazy one doesn't ask for tax relief on money that is lent.


That is a tory's morality for you.

oh do stop talking such absolute rubbish
what a spiffing idea to have the taxpayer funding high risk debt