Judge’s debt enforcement ruling condones Identity Theft
Posted by Cashzilla in Uncategorized on 27. Jan, 2010 | 3 Comments
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The BBC report that the OFT has issued guidelines to lenders and borrowers about when their loans and other credit may, and may not be enforced. The guidelines come in the wake of OFT fears that some debtors may be misled into their ability to have debts written off.
The OFT draft guidance [...]
Visa slaps teen with $23,148,855,308,184,500.00 bill for a prepaid card
Posted by Girdfossil in credit cards on 15. Jul, 2009 | No Comments
Interesting news stalwart Cory Doctorow at BoingBoing is to be thanked for bringing this to our attention. Visa have recorded a $23,148,855,308,184,500.00 charge on a prepaid card.
The Consumerist, who broke the story, point out that’s 2,000 times larger than America’s national debt of $11 trillion and that the ever-vigilant billing team at Visa remembered to add the $20 charge for being in the red. Yes; the card was also suspended.
Prepaid cards are an interesting idea. They work in a very similar way to credit or debit cards except you can only spend the balance that has been assigned to the card. In theory this means it is impossible to run in to debt (as there’s no overdraft option) and therefore ideal for giving to teenagers.
Warning – credit cards can damage your wealth
Posted by Cashzilla in credit cards on 11. Oct, 2006 | 5 Comments
Welcome back Finanosaur fans.
I have just read the news section of the personal finance comparison site Moneynet, “Credit products should carry so-called ‘wealth warnings’, the ex-chief of Halifax has maintained”, and I cannot say that I am particularly surprised.This news should also not come as much of a surprise to most people in the [...]
Students dodge debt through bankruptcy
Posted by Cashzilla in lifestyle on 16. Aug, 2006 | 1 Comment
According to credit reference agency, Equifax, it seems as though some canny students have caught up with the changes in the bankruptcy laws.
As part of their latest survey of soon-to-be students, they discovered that about 11% of the respondents were seriously considering the idea of taking advantage of the relaxation of the UK bankruptcy laws [...]
UK debt on the rise again for the old and young alike
Posted by Cashzilla in lifestyle on 23. Jun, 2006 | 2 Comments
Surprise, surprise. I go away for a while, and there is an announcement from the Consumer Credit Counselling Service that levels of ‘extreme debt’ in the UK are worsening. Now I don’t want to draw any obvious connection there, but the timing seems a bit coincidental don’t you think. Well now I [...]
Credit card interest free periods may not be all they appear
Posted by Cashzilla in credit cards on 10. May, 2006 | 3 Comments
Those pesky credit card companies which are offering longer and longer interest free periods in order to attract new customers have started new methods to get back the money they lose due to rate tarts. Some months ago most of the card companies started introducing a transfer fee of aroung 2% payable on the amount [...]
It pays to query your credit card APR
Posted by Cashzilla in credit cards on 19. Apr, 2006 | No Comments
I received a letter a couple of days ago telling me that the APR on an old credit card which I still have but no longer use, was going to go up from an already high 17.9% up to a rediculous 24.9%. Given that it is easy to get a variety of cards with [...]
UK consumers regaining control of runaway levels of personal debt
Posted by Cashzilla in lifestyle on 12. Jan, 2006 | 2 Comments
The UK in recent years has seen a massive growth in the levels of personal debt and thanks to increases in secured loans corresponding to a strengthening of the housing market; it does not appear to be slowing down. Recent figures from Creditaction show that since the end of 1993 when debt level were [...]
Not finance related
Posted by Cashzilla in lifestyle on 08. Sep, 2005 | No Comments
I know this is also not finance related, but regular readers will know that a certain dinosaur likes chocolates – see What £1.1 trillion of debt actually means. I have recently found out that the cult Texan “mighty chew” bar has returned!! Too cool. I remember having tooth fillings removed by these babies when I [...]
To the gentleman in front of me in the clothes shop at Ocean Terminal
Posted by Cashzilla in lifestyle on 02. Sep, 2005 | 2 Comments
Sucker.
I’m sorry, but it had to be said.
Let me explain.
I went to this particular clothes shop this lunchtime to buy my grandpa a shirt for his birthday – he’s 93 you know. Standing in front of me in the queue to pay was a young-ish guy who was also buying a shirt.
As he handed [...]
