"Hi I work for a Debt Agreement administrator. There are 3 ways to end a debt agreement, you pay it out in full, you can apply to have the agreement terminated (however interest backdates from the start of your agreement), or you can offer to make a…"
FatCat's MoneyConfessions - helping you save (& make) money, one click at a time
Greedy banks
Banks have been making a fortune at our expense for years, and now they're copping it sweet for all their bad investment decisions, with billions of dollars in writedowns.
But who is going to pay for all this? Well, we are, with increased interest rates and fees & charges (I've always thought that was sly, separating "fees" and "charges" - same thing, really).
What does everyone think of this, and does anyone have any stories about banks they'd like to share?
JFK
But who is going to pay for all this? Well, we are, with increased interest rates and fees & charges (I've always thought that was sly, separating "fees" and "charges" - same thing, really).
What does everyone think of this, and does anyone have any stories about banks they'd like to share?
JFK
Tags: banks, debt, interest, rates
Views: 0
Replies to This Discussion
-
Permalink Reply by Miffy on -
I think the banks get a bad rap - they're companies, just like any other one, and their main aim is maximise profits. While they provide a valuable service, they are not a public service - they need to think of their most important clients (shareholders) over us. With plenty of options these days - national banks, local banks, international banks, credit unions - we should take our business elsewhere rather than complaining about them ripping us off. Complaining is just the easy option.
-
Permalink Reply by Bandwidth on -
I am with Miffy
So I can assume all your investment decisions have been good :-)
If we don't like the banks don't use them. Don't borrow don't use credit cards, keep your money under the mattress etc etc.
No loan no increased interest rates
No transactions no charges
Bank bashing is a passtime encouraged by the Govt of the day to distract the public away from watching them.
Banks are there for a reason we need them to manage our financial transactions and we should pay for that service
Latest Activity
Cliff Mearns replied to Cliff Mearns's discussion Bankruptcy -v Debt Agreement"Ben, let's not lose the loop. How financiers view bankruptcy is not relevant to the discussion of an individual's capacity to pay something. Bankruptcy is being utilised as a means of evading debt obligations. "
Bankruptcy ben replied to Cliff Mearns's discussion Bankruptcy -v Debt Agreement"I agree with the setiment however in reality there's nothing to encourage an individual to make a payment with a Debt Agreement! While technically it's different most financial companies regard it as the same as bankruptcy."
VOTE NOW
FatCat news
Is The Bible The Ultimate Financial Guide?
Maybe it's time to go back to Sunday school.What makes entrepreneurs successful?
By being hardworking entrepreneurs, we all have the opportunity to be very successful.How Asia Survives A Sinking Euro
At this point, it is best for investors to prepare for a worst case scenario.How To Build A Successful Career As A Published Writer
Perhaps the most important trait for any writer is die-hard determination.5 Tips for Launching a Volunteer Program
Organizations come in all shapes and sizes but when it comes to giving back to the community there's a common path to success.Badge
Groups
-
Saving cents
5 members
-
Surviving Interest Rate …
7 members
-
CompareShares articles
11 members
-
FatCat articles
19 members
-
Beating credit card debt
8 members
© 2012 Created by FatCat.
