And so still people blame the debt crisis on the banks, the same people who took out loans to buy nice cars, plasma TVs and that holiday in Kenya. This naïve opinion that capitalism and the west can exist without borrowing has taken hold. The only way banks can make a profit is by lending at 6% and paying 4% interest on savings. How could the regular punter who flat out blames the banks for the recession afford his dream 170,000 mortgage on his 25,000 salary? The bank is lending you 170,000 pounds guys! Where do you think the bank gets that money to lend you? Right, it invests other people's money and takes their interest on their loans and credit cards to do just that. .  Read the complete review

Having read a number of reviews of fellow dooyooers who are unfortunately caught in the debt trap has inspired me to write about my experience in managing finances and dealing with debt. I previously worked as a homelessness officer and as a large proportion of homelessness is caused as a result of debt, it was essential I trained to provide financial advice to my clients. Statistics compiled by Credit Action evidence that by the end of March 2010 the United Kingdom owed a massive £1,460 billion in personal debt, with each household averaging around £8,796 (excluding mortgage). Unfortunately, many people find themselves in debt through ...  Read the complete review

When I was 19 I decided that it was about time I got my own place. I was living with my mum and step dad and I felt like I needed my independence. Looking back on it now, I wish I had stayed with my parents for that little bit longer. After moving out my boyfriend and I were so happy we would be getting our own place. We didn't get a mortgage as my aunt's pal had a place she was renting and it was available straight away Long story short it didn't really work out not financially but where it was, and after an attempted mugging on me a week before xmas I decided I needed to be sensible and get a place to call home. I was working in a bank at this point and had ...  Read the complete review

I would like to tell you how i managed to get myself into debt and how i am struggling to get back out of it. I hope this might help someone avoid doing what i done. I left school at 16 and started working fulltime for HMRC earning £13000 per annum. Being immature and stupid i messed around taking days off and had to hand in my resignation 3months after my 18th birthday. By this point i was already £2000 in debt. Once i hit 18, my own bank wouldn't offer my a debit card so i went to HBOS who offered me a debit card and £1000 overdraft so seeing the £££ signs i signed up and within a few weeks this was spent on a trip to Blackpool with my partner. My this point ...  Read the complete review

It seems ironic that I should work for one of the biggest financial institutions in the world yet I find myself in the same mess as countless others. Everyday I have people asking for my help and I am powerless to help and I go home feeling pretty crap about myself and frustrated. It seems hypocritical because I recognise that desperation and loneliness and even mental strain that the burden of debts can cause. My story starts when I was 18. I had an account with Lloyds TSB and had an electron card, as I was soon to go to university I would need to have a debit card to purchase train tickets. My application for a normal debit card was declined but I was ...  Read the complete review