Credit Crunch

Have you felt the pinch of the credit crunch?

READ: Outwage

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Comments

[carole dyson]

I am truely desperate. I cannot understand why it seems that everyone else seems to have HUMAN RIGHTS (I take the term literally) and I have non?. People get away with not paying what is due to me but when I try negotiate a term whilst I sell my home to settle my debt my building society will not agree, they want arrears in full and so are pursuing eviction. My husband died in February and I should have had enough money to at least pay and give me time to grieve but because I have had to accept a "deal" from my debtor I have had to pay solicitors fees albeit reduced, I am left with virtually nothing and a building society who are uncoperative despite the fact that everyone else I owe money to is. If I pay the arrears in full I have only enough left to pay about 4 months mortgage and then it's back to square one.Whats the likelyhood of selling in less then 4 month in todays hyped up market? All I asked was to restart payments until sale and settle everything then. I am being forced to leave the home my husband built and where I have lived for 23 years

[R Wilding]

as i work in local goverment and by the end of 2008 i will loose £100 per week if this mr browns idea of fun as every week there always some thing else that goes up in price

[Stephen]

I need some help. Unfortunately i cant ask either the bank of England or the Chancellor a question about the credit crunch and the way this is affecting us, but you can.

My problem is as follows.

I fully understand that the civilised world is paying for its excesses of living beyond its means and like all bad things - they come home to roost. However the treatment of this problem by our Bank (england) and our government appears to be either immature or at worst inept.

Clearly the BOE brief was to control inflation and the reason for this apparently is that inflation is "only" caused by demand and we - the great unwashed are resoponsible for that through our credit cards, so the perceived response is raise interest rates and we will all pull our horns in. Well that response seems rather a blunt instrument.

The premise being raise our mortgage, raise our credit card rates and we will stop spending, lower demand and hey presto - no inflation.

So how does this work then, raise interest rates, at the same time that petrol, a basic commodity, has doubled in price, electricity and gas, up 70% in the same period and food up over 50% in basic commodities and i would say you have the equivalent effect of raising interest rates by 4 times that which the BOE have done.

Therefore, we are on our knees. Our only response is to demand more wages to keep up. I think that is called inflation.

Please tell me where this arguement is wrong and when the BOE are going to react in the same way as the USA and start understanding the problems of real UK.

I am not an economist and maybe some smart BOE person or government spokesman can tell me why i am wrong but i really need an answer to this.

[julie]

I have just got a pay rise of £32 per month which has been totally wiped out by the abolition of the 10% tax band, what with everything going up I feel outraged and to top it all I am now being asked to pay for my carrier bags at the supermarket, what next? This governmnet is totally out of touch.

[denise]

as a foreigner i do also feel the credit crunch as i am working 4 utility bills only not having any money to socialise as i hav 2 pay my tuition fees aswell.this governing party is no different from the previous party as both do with society as they please,the poor will get poorer and the rich richer that is a given fact.is that the reason why there is somuch crime and disorder?nobody wants 2 admit the government even the opposition is losing it.