Loans

[chocky909]

I tried to apply for a £1000 loan with my bank Natwest but they declined for some unknown reason despite me being employed and having a decent credit record. I'd apply with other banks but I believe that every failed application makes your credit rating go down so I'm unsure what the best course of action is.

I want to buy a pinball machine.

[Blumf]

Credit union? Should be one nearby.

There's also some on-line P2P loan site thing, stupid name um... ah... http://www.zopa.com

[mook]

have you taken out loans before? banks seem to like people who can prove they have a history of reliably paying back loans and other debts. if you've no real credit history that will go against you. you might want to apply for a credit card, use it regularly and wisely for a few months and then re-apply for the loan.

[Jamie Oliver is fat]

I tried to apply for a £1000 loan with my bank Natwest but they declined for some unknown reason despite me being employed and having a decent credit record. I'd apply with other banks but I believe that every failed application makes your credit rating go down so I'm unsure what the best course of action is.

I want to buy a pinball machine.

Your credit rating does go down when making applications, as I learnt to my cost last year whilst arranging a mortgage on my place.

But it returns to normal fairly quickly after that, just give it a month or so.

To be honest, if your credit rating is shot for whatever reason, even if it's because you haven't had a lot of credit down the years, your options are really limited.

If you're serious about borrowing a grand for a fucking pinball table, then I'd suggest you try and find a stockist who offers buy now pay later or credit agreements themselves, as they are typically a bit more lenient as they can just come round and take it back if you don't pay it.

[biggytitbo]

Why don't you save up and buy it. No interest and imagine how much more exciting it will be if you have to wait a bit?

[mook]

biggy if you had your way we'd still be running around in hairshirts and eating twigs. have you ever taken a fucking financial risk in your life?

[sproggy]

Saving up for it sounds like a pretty good idea to me.  Stick £50 a month in an ISA and you'll earn interest on it and everything... amazing or what?

[biggytitbo]

biggy if you had your way we'd still be running around in hairshirts and eating twigs. have you ever taken a fucking financial risk in your life?

Buying that gold in 2007 was a pretty risky thing to do, but buying something like a pinball machine with borrowed money is just a daft thing to do.


That's one of the reasons this country is fucked.

[sproggy]

But the Tories need us to be good little credit monkeys and borrow our own taxes back from the banks at 7.6% APR, otherwise the LSE mantra will no longer function.

Work, Consume, Die.

[Mark Steels Stockbroker]

That's one of the reasons this country is fucked.

What are the other ones?

[biggytitbo]

Globalisation, banks, land ownership, the royal family and Simon Cowell.

[Jamie Oliver is fat]

TBF, it is a bit silly to borrow a grand to buy a toy, but judge not lest ye who casts the last laugh in a bush, etc

But on the other hand, it's only a grand, it'll be paid off over a year, and it's a way for someone who doesn't have a grand spare to get themselves something nice

No harm done

Borrowing on the tick to buy a TV or a games console wasn't what brought about the collapse of the global economy Biggy, but it did cheer a few people up for a while

[Still Not George]

Credit drives demand. Basic economics. Not sure what isn't obvious about that.

[biggytitbo]

Not directly, but the fact the entire  western economy is saturated with debt from every direction is the reason we're unable to do anything about the collapse of the western economy - we're in a zombie economy and nobody knows the way out.

[Jamie Oliver is fat]

When Nibiru hits us later in the year it will be a moot point anyway

It might result in a TILT error on his pinball table though, which will be disappointing for us all

[mook]

Not directly, but the fact the entire  western economy is saturated with debt from every direction is the reason we're unable to do anything about the collapse of the western economy - we're in a zombie economy and nobody knows the way out.

yes, directly. every business uses credit. be it borrowing from a bank to cover start up or in the form of investors. that is how it works, how it has always worked and how it will continue to work.

[biggytitbo]

Get with 2012, everyone borrowed too much, leaving the entire economic system utterly paralysed.



3 solutions - 1) mass default, 2) inflate the debts away, 3) zombify the economy and have a decade long recession.

We've chosen the last one, with a bit of number 2. Add our debt paralysis to the wider problem of globalisation and energy depletion and there's no way out that doesn't involve a long term decline in living standards.

[Still Not George]

The only way to understand the debt-freak's viewpoint is a quick thought experiment.

Imagine that you knew nothing whatsoever about farming. Let's say you were brought up in an extremely urban environment.
Now, let's say that as you were growing up, you were constantly told, endlessly reinforced and conditioned to believe that poo was bad, dirty, wrong, unclean. Not just human poo or dog poo - ALL poo. All of it is evil and disgusting and needs to be removed and taken far, far away from anything to do with people.

Now imagine you went to a farm and saw someone blowing shit everywhere. So you ask people, and they tell you that not only is poo a fundamental part of the process of producing the food you eat every day, but it always has been.

Now, from there, there are two possible responses. The first is that you could challenge your prejudices, re-assess your life, decide that poo clearly isn't that bad and that while you'd prefer not to have much of it around yourself you understand the critical role it plays in the food production chain and you can live with that.

Or... you can go batshit, scream from the rooftops that we're all going to die, that the poomongers have taken over the world and everyone's going to get cholera or botulism or something, and that the only possible solution is for everyone to stop using poo IMMEDIATELY. You could produce huge terrifying graphs indicating the terrifying amount of faeces being used in industrial farming around the world in comparison to the amount being pooed by normal human beings. You can go find communities of likeminded faecophobes online and endlessly reinforce your terror of poo. You can invent shadowy, slightly brown-stained conspiracies of those who stand to gain from the dominance of poo. Invent new words for them, like "turdocrats" or "illuminarsey". You can, in short, go the full number 2.

And the worst part is, no-one will be able to get you to understand that it's just, y'know, poo.

[Howj Begg]

Human poo found in wales 
Started by biggytitbo

Case Closed

[biggytitbo]

The correct answer is of course 1.

[Shoulders?-Stomach!]

Theres something to be said for developing a good credit rating. My brothers is shit hot and tesco gave him a credit card with a two grand limit and interest free for eighteen months. Effectively a free loan. And he pays it all off in time so biggys squealing only applies to those who dont. Borrowing is fine if you pay it off within the agreed terns.

[biggytitbo]

If he's so awesome why does he need credit at all?

[WesterlyWinds]

Get a Margaritaville instead, I hear they have a great payment plan.

[I accept the terms of the]

If he's so awesome why does he need credit at all?

Please tell me that you can understand the concept of a buffer, and that you're just pretending to be this stupid for the sake of sticking to a principle.

[Still Not George]

Just substitute poo in each sentence.

If he's so awesome such an awesome farmer why does he need credit poo at all?

[biggytitbo]

Please tell me that you can understand the concept of a buffer, and that you're just pretending to be this stupid for the sake of sticking to a principle.

Sounds like he's doing OK for himself, his 'buffer' should be money he's saved. What a ludicrous idea eh?


No wonder we're going to get absolutely annihilated by the BRICs over the next few decades.

[biggytitbo]

Just substitute poo in each sentence.

A good farmer saves the poo generated from his own farm, he doesn't borrow someone elses poo at interest.


That's were capitlism went wrong.

[mook]

nobody spends their own money if they can borrow some for next to fuck all. surely even you can see the benefit in that biggy. perhaps not though, from what i gather you think it makes financial sense to pay some others buggers mortgage for them.

[Nobody Soup]

if I was a tidy saver is there any way I can use this financial might to rise above the plebs?

[mook]

yes, loansharking.