credit agreements
I was reading somewhere that the banks dont actually have anything to lend until you sign the agreement with them. If they were to bring you to court wouldnt they have to show that they were at a loss to sue you?
How could they do this? What did they lose?
You credit rating goes down the drain , the bank sue you , you loose your house/car/tv/dog ......
You never get credit again becuase of the judgements.
What if one didnt have a house, car, tv or dog?? And one didnt care about ever applying for credit again because of the trouble it has brought?
Is it possible to go to prison for not paying?
How long is your credit rating affected?
Thanks
As far as I am aware, once your credit rating is affected, thats it.
My sister used to work in a bank and said it used to be a mark on your rating for 7 years but now its only 5.
It is simply morally wrong. If that "someone" entered an agreement with a bank, then that person should honour that agreement! Simple as that! It is so wrong on so many levels! I do hope that "someone" thinks before acting...
It is simply morally wrong. If that "someone" entered an agreement with a bank, then that person should honour that agreement! Simple as that! It is so wrong on so many levels! I do hope that "someone" thinks before acting...
And the banks have loads of morals dont they?? At the end of the day what are the banks losing if the loans arent paid? Digits on a screen maybe?
If someone was at a loss I could agree with the supermarket argument but what does the bank stand to lose? Did they have anything to lend in the first place?
The same could be said of your bank account. It's not real , all just digits on a screen.
You don't mind if I empty out those digits do you ?
Yes, but at least I had to do some work to put those digits on that screen. What did the banks to to loan me credit? Were they at a loss?
They (or the tax payer) have to pay the money back later.
It's the same for the bank as it is for you.
If they didn't need to pay the money back then there would be no problems , and AIB wouldn't be reporting billions in losses.
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