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THE CREDIT CARD CRUNCH

Goddaz

By Goddaz
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Guest Flava Dave

Guest Flava Dave

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BRUV ive just earnt Dave about 2er on horses todayCREDIT CRUNCH UR FACE, UR HOUSE, UR KIDS,, UR ORTAGE, UR YARD, UR ROAD, UR SAINSBURYS, UR TESCOS, UR WOOLWORTHS , UR ASDAIF U DONT KNOW UR HORSES UR SWAGWE MAKE MONEY OF THOSE BHORSES
bruvif the 18.50 does well u can double that...
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Goddaz Newbie

Goddaz

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I didnt even know Merryl Lynch was going through the madness as well....looks like another friend is losing a job. :(
your friend is safe for now.
Unless you know the terms & conditions of the buy. Allow giving J, which in turn will give her friend false comfort.As a business they are safe but who knows what changes will be made. Jobs could be cut, offices closed to pay off some of the debts etc.
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Goddaz Newbie

Goddaz

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wot exactly is gona happen?they cnt change the rates without prior notice anywaysn if anything jus get a balance transfer onto a card with a lower rate
Many things still, most of it you know as its already happening like less credit approvals, if you don't use your plastic they'll close it if they haven't already or just lower your limit.Many more businesses will fold. Obtaining credit will be even harderBasically they is TOO MUCH UNPAID debts floating in the system. It's been there for too long & its pay back time.
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Goddaz Newbie

Goddaz

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You done know Yemoh about the stacking. I get these e-mails 4rm some property developer and the amount of good buys about is serious.Many are up 45-60% bmv, distress sales, repossessions of 30%-50% discounts.I am waiting till the end of the year. Till then I'm just stacking

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Guest Flava Dave

Guest Flava Dave

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wot exactly is gona happen?they cnt change the rates without prior notice anywaysn if anything jus get a balance transfer onto a card with a lower rate
Many things still, most of it you know as its already happening like less credit approvals, if you don't use your plastic they'll close it if they haven't already or just lower your limit.Many more businesses will fold. Obtaining credit will be even harderBasically they is TOO MUCH UNPAID debts floating in the system. It's been there for too long & its pay back time.
knew about thatseems pretty minor 2 meIMO theyd want new customers because obv they need the financial stability for the foreseeable future so theyd get new customers n tempt themm into just payin the minimum balance off every month so they make profits off the interest n that, same way banks are enticing ppl with gd savings rates n sh*t, they need us more than we need them.bt if ur in heavy debt, arrears, ccj's etc then ur f*cked, if ur clean u shud b nice
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Em Dott Newbie

Em Dott

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I never understood the hype with credit cards. Obtain something you will pay for later, perhaps slightly more than it was actually. I'd rather buy something out completely there and then knowing that I don't have to hold on to money later to pay it off.The only serious debt I had was my overdraft before my second year of uni. Scary time which made me alot better with my money. I actaully wish I had enough money to get a house right now the way some of the prices are dropping. I fear that by the time I get enought o sustain a mortgage house prices may have gone up again.

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MARLO STANSFIELD Newbie

MARLO STANSFIELD

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I never understood the hype with credit cards. Obtain something you will pay for later, perhaps slightly more than it was actually. I'd rather buy something out completely there and then knowing that I don't have to hold on to money later to pay it off.
Some companies offer deals and ting i mean if you use certain cards in certain places you get free AA cover and stuff like that.
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Guest Flava Dave

Guest Flava Dave

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I never understood the hype with credit cards. Obtain something you will pay for later, perhaps slightly more than it was actually. I'd rather buy something out completely there and then knowing that I don't have to hold on to money later to pay it off.The only serious debt I had was my overdraft before my second year of uni. Scary time which made me alot better with my money. I actaully wish I had enough money to get a house right now the way some of the prices are dropping. I fear that by the time I get enought o sustain a mortgage house prices may have gone up again.
financial planningIMO its better to instead of saving say £1000 to buy one thing all out, you spread that out and get say 10-20 things, this is especially true for business coz in that way what you buy will be working for you and paying for itself and you retain liquidity so ur able to do other things, instead of havin spent the whole lot on one thing then havin 2 wait 2 get the next, you spread it over a pre determined period of timeobv like purchases are useless on credit
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Em Dott Newbie

Em Dott

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I never understood the hype with credit cards. Obtain something you will pay for later, perhaps slightly more than it was actually. I'd rather buy something out completely there and then knowing that I don't have to hold on to money later to pay it off.The only serious debt I had was my overdraft before my second year of uni. Scary time which made me alot better with my money. I actaully wish I had enough money to get a house right now the way some of the prices are dropping. I fear that by the time I get enought o sustain a mortgage house prices may have gone up again.
financial planningIMO its better to instead of saving say £1000 to buy one thing all out, you spread that out and get say 10-20 things, this is especially true for business coz in that way what you buy will be working for you and paying for itself and you retain liquidity so ur able to do other things, instead of havin spent the whole lot on one thing then havin 2 wait 2 get the next, you spread it over a pre determined period of timeobv like purchases are useless on credit
I'm not talking about businesses. I'm talking about day to day people using it to buy day to day objects. The business thing I know about because if you can invest in somehting that will provide a return you are laughing. But I'm talking about people buying clothes, sofas, phones, etc. I personally would rather save up the lump sum. I hate debt and being obligated to anything I don't want to be.
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