Jamz3k

I have a loan with my bank which is ending in the next few months. I just got a letter from my bank manager with an opening line of, "Do you need some extra cash?" then it goes on to tell me I can "top up" my current loan to buy that dream car or holiday.

Is this really what the banks at the moment think I should be doing with money I haven't earnt, it ***** me off no end! I expect crap like this from junk mail but not from my bank who know my financial situation at the moment.

Luckily I have sickened myself by spending money I haven't had in the past (that i'm still paying off) so will not be taking them up on this offer but how many people will have got the same letter and will now be getting into more debt and danger?

DARB

They have done this for years, they prey on the fact that most people cant resist the offer of a bunch of cash

markjmd

iTrader: (11)

but, but, but, but, it's all there in the terms and conditions, they only have themselves to blame if they get behind on the payments

Jamz3k

If that had any and I mean any relevance to my post, I may of agreed with you.

You should maybe read the terms and conditions of this forum regarding trolling, you've only got yourself to blame if you don't.

PaulC72

Its all about continuing business, and you would be considered a safe bet if oyu extended your loan unless you have defaulted recently

It is no different to car dealers sending out bumf or any of the other 'businesses' trying to get more business.

The strong willed would just file it, others would borrow more to spend on hookers.

pslewis

I used to get letters offering loans every single day - up until 2007 ..... then they stopped, overnight!

I would take it as a compliment if I was you

Trout

iTrader: (1)

So on the one hand we get strong views that banks are not living up to their expectations on lending money to individuals and small businesses - the government set their targets.

And on the other - the reality that people don't want to borrow money.

How do the banks win?




PS Good on you not the take the money

Jamz3k

You've a fair point Trout, my main complaint is that they have offered me this 'gift' as a way of buying my quote, "dream car or holiday". This isn't responsible lending imo.

scubbay

iTrader: (61)

Do they know you have an Alfa? If so that explains a lot.

BULLITT

Sorry, I read the thread title and immediately thought of

http://www.youtube.com/watch?v=ffxEobkkGeM&sns=em

pimmo2000

iTrader: (6)

HSBC did the same kinda a thing with my credit card .. got it when I was 18 with 2k limit.. didn't use it much and each year or so they review it and increase ..

Now I have a credit limit of 9k .. 9k on a credit card .. with apr of like 18% .. its completely empty and I have no intention of ever using it .. but you can see why people get into trouble ..

Maz

iTrader: (34)

Each time I get a letter like this from my bank I send one back offering them a loan at a much better rate. Funnily enough they don't take up my offer. Hmmm if only they would I would make a killing for doing nothing.

jonc

They already have your money and are using it, it's called your savings account and the bank pay you a few percent above the base rate for the privilege. You can't blame the banks for offering loans, they're only trying to encourage you to spend to stimulate consumer spending for the greater good of the country's economy.

Leslie

There was a time when you could trust a bank!

Les