Posted on 11/25/2007 8:30:13 PM PST by Flavius
Families are stretched to the limit of their borrowing capacity, with personal debt having almost doubled since the turn of the century, an independent report warns today.
As borrowers default on their debts in growing numbers and banks and building societies try to recoup their losses, annual fees on credit cards will become standard, the report says. These would equate to up to £30 a year.
Despite the prospect of annual charges and higher interest rates on monthly bills, many people are likely to have to use their credit cards more often to meet the rising cost of mortgage repayments.
(Excerpt) Read more at telegraph.co.uk ...
And all the Brits have to do is look west one island and they'll see the solution to their financial problems. It's being called the "Irish Miracle"....
Is that right? I am not familiar with the Irish situation.
Saw a statistic from about 1980 that the average worker in an industrialized country will emerge $70,000 ahead at the end of his career. He might make $1 million but that’s what is left.
Exactly...pushing a million, myself.
Damn I sweat a truck payment !..........If money ain’t coming IN, aka money making money , I am in panic mode.
Stay safe !
"Show me just what Mohammed brought that was new, and there you will find things only evil and inhuman, such as his command to spread by the sword the faith he preached." - Manuel II Palelologus
I’m sweating Christmas.....I told everyone that I’m paying employee bonuses from my pocket for now until this damned rain stops and we were having a light Christmas...with 3 women in my home, it’s a spending free for all anyhow
you shoulda seen the long faces...
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