Debt and the pandemic - increased or decreased?

[eyeball kid]

Aye but it's surprising how quickly the manageable can become unmanageable. Ill health, redundancy, pandemics, can all throw a pretty large spanner in the works.

Even tho it's still officially debt, I suppose the one time I would personally accept the view that credit card balances are not debt in the strictest terms is if you actually have the amount spent as a fully disposable balance and the CC is only being used for the provided protections and not because of a need to buy with credit with affordable repayments. Then I could be swayed. But if your debt is fully called in unexpectedly and you don't have the means to clear it without resorting to other credit lines then IMHO that's as much of a debt as a debt can be.

IMHO.

I've a good friend who had to go bankrupt for about.10k worth of debt even though he had a 65k job.
A short illness followed by his wife having to stop working was enough to tip the scales into the negative and block his credit line. Just fully extended at that time.
We also know a very in demand tv director who knows that he's inevitably going down due to owning a big old country house he bought during the last boom on a mortgage that comes due for payment at the twenty five year period (perks of having a high income on paper). He still lives lavishly so it's inevitable. Hopefully it has some profits at the end of the period and he's still able to work.
It doesn't matter where you are in the social scale, it can be brutal.

 

[Rob]

So many seem to be asset rich but cash poor these days in this area, at least. More and more are downsizing to try and keep pace, but I fear for every one of us as I suspect we're going to see further restrictions introduced as the variants (India etc) rear their heads.

 

[andipandi]

So many seem to be asset rich but cash poor these days in this area, at least. More and more are downsizing to try and keep pace, but I fear for every one of us as I suspect we're going to see further restrictions introduced as the variants (India etc) rear their heads.

At least that is an option and a choice to be had, the same cant be said for the younger generations and as time goes by, older/ much older people as well. Of course there are those in the older groups who are already in that category, one such man who looks and is ancient , dies on his feet, almost daily, working long shifts at Icelands, he is not alone. Plenty of older females doing the same thing, I see them worn out and knackered, working the checkouts.

Somebody said to me a few years ago: "I'm surprised you live here [in this flat], I thought you would've done better". I told him "It's better than nothing, better than being homeless".

I've been homeless, I know how quickly that can happen, and I know how hard it is to get back up.

 

[Miss Pepper]

There's only so far people can downsize too. Add in EA / legal / moving fees, house price increases and it's awkward if people want to remain in an expensive area.

 

[andipandi]

the internet allows go fund me, whip rounds and information at our fingertips to cut costs.

Are you serious, most of those go unnoticed and unsupported - in a meaningful and helpful way. What a world we live in, if it comes down to having to that. ffs. This is sick.

 

[Miss Pepper]

Are you serious, most of those go unnoticed and unsupported - in a meaningful and helpful way. What a world we live in, if it comes down to having to that. ffs. This is sick.

I'm saying what I've seen online, yes people do raise money via gofundme pages for funeral costs, it gets shared and does raise money. Maybe some are promoted better than others, I don't know. The ones I've seen more than covers a nice funeral, let alone a basic cremation.

Unfortunately, this is currently the world. Anyone who wants to change it had better start petitioning, rallying and shouting loud to get heard.

 

[Miss Pepper]

Just spent 30 seconds online and found this out for Scotland:
https://www.mygov.scot/funeral-support-payment/if-the-person-who-died-was-17-or-under

And in England:
https://www.gov.uk/child-funeral-costs

 

[Rob]

I'm out of this, too depressing

 

[andipandi]

I'm saying what I've seen online, yes people do raise money via gofundme pages for funeral costs

Roll up roll up, read all about it, today's freak show. This is where we've arrived at? Once long established social support, social institutions, provisions of services and welfare, all decimated, replaced by internet adverts

 

[eyeball kid]

Roll up roll up, read all about it, today's freak show. This is where we've arrived at? Once long established social support, social institutions, provisions of services and welfare, all decimated, replaced by internet adverts View attachment 246852

Yeah begging for funeral costs and food banks being relied on by the government is not where we should be in the UK. It's very sad indeed.