Alfa Romeo Forum - View Single Post - Credit crunch is my fault sorry...
You are currently unregistered, register for more features.    
View Single Post
jason156
Status: only got a renault truck
AO Silver Member
 
jason156's Avatar
 
Join Date: May 2007
Location: United Kingdom
County: Powys
Posts: 3,013
Re: Credit crunch is my fault sorry...

I guess the lad I know falls into the NINJA catorgory, he has a job, but he is so far behind with his debts, he may as well not have, I guess my point was that it is a collective responsibility, the way of the world has been to borrow/lend beyond peoples ability to pay.
As to lending to people on the limit, the guy who started the ball rolling is a local hero in these parts, Robert Owen who started a credit union, he came from (and is buried in) our local town.
Another guy I know borrowed to buy a house, as the values of his house went up he borrowed against the increase in value, now house prices have fallen, he finds it cheaper to go bankrupt owing £140K than to service his debt, who pays his debt off?

Bright Yella Fiat Stilo 3dr 1.9 jasons tractor diesel Cruise, dz climate, n leather, so many toys now with 17" claws
Sadly the STILO is for sale, I've now got a Renault Master beavertail
I pop in here to have a look now and again-but don't know what to say
Written off in the prime of life...My Bella.
2.5 V6 SP3 156 Cosmos Blue, Black Momo leather, Carbon dash.Freeflow cat, pipercross filter,Smoked repeaters, Scuddetto centre grill, blacked out side grille bars.
jason156 is offline  
 
 
For the best viewing experience please update your browser to Google Chrome