Wednesday, March 19, 2008

Rationalising the Stigma of Bankruptcy Part 1

In the first of a series of articles, Stephen Morgan is trying to fight often incorrectly lending criteria that modern day financial institutions use to help fuel its expansion and financial growth, but at what expense?
Hardly a month, how to move, when the media mobile & 39; t reporting some cases of suicide or attempted suicide some individual who has taken the unfortunate decision that death seems preferable to having to deal with gradually accumulating debts .
Now perhaps only in that I (I hope I do not), but there is something repugnant in a society that allows, for example, someone choose death rather than accept the unfortunate situation they find themselves in.
In last story , the case involves a young man who got recipient threats debt collection agencies calling on behalf of the high street bank in the United Kingdom, which, frankly should have known better.
The amount was equal to approximately 1500 (2200) and the creditor is likely to re-examine his case, and decided that enough was enough and will call on the amount in the account must be settled.
ENOUGH was ENOUGH!
The world went mad! I now l know that all debts have to be paid, and I fully accept that otherwise we risk the entire western economy, and in general the principle of a free market economy and capitalism " going down the spout & quot; if they are not met, but sometimes a little dose of reality to conclude equation.
Let me to expand this notion. I love my nephew, I think that he is great, and to take up arms against those who think differently. However, I would not entertain the idea of him being the financial responsibility to take the lead in a Western economy, in the Central Banks.
I will give him 20 3500, plus unsecured credit card no way!
That but it is not considered a view of one of the United Kingdom leading High Street banks, which passed the gaily banking institutions, as well as credit cards to students who have all performance alcoholic who has just been handed the key to the brewery!
God know how they managed it is a credit score. I know the facts, and I am sure that I am able to evidence that the bank does so, but it beg the question to some of today& 39;s bank employees?
Should their mothers, even in the morning unattended?
The sad result is that they are obviously buying in the market. On the stock reply is that a certain percentage of students going on to become captains of industry " & quot;, and will earn a bank opportunistic in the way of wealth - those who have their money in the early days " will always be rewarded & ; quot; etc., but what about those who do not become " future captains of industry & quot;? they become collateral damage " today& 39;s Financial War of Attrition & quot;?
Does growing trend of bankruptcies among " twenty-something similar & quot; after student places not to tell them something?
Isn & 39; t it about time that someone is trying to tell them that little fiscal prudence at an early stage, can actually help them to make more substantial gains and moral later?
" Hello there is who? & Quot; Stephen Morgan is the editor-services.ws http://www.debt- consolidation and http://www.livingwithhighbloodpressure.net. Also at http://www.debt-consolidation-services.ws/features/rationalising the stigma of bankruptcy.html dollie tamica



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