Banks etc

[diamond lil]

It would be a good time to make sure you've got some cash in the house, just in case of bank closures.

[hobo]

Seconded.
...if only I had some in the bank to begin with!

[dizzydays]

Seconded.
...if only I had some in the bank to begin with!

Same here
Also, I'm in a bit of a credit card pickle - nothing horrendous but bad enough to worry me and impossible to pay off very quickly. I'm wondering now whether it's better to concentrate all my efforts on getting rid of that rather than spending it all on extra food. If there is a big bank problem how would people with this sort of debt fare? Would they demand instant repayments of the total amount for instance?

DD

[preppingsu]

Seconded.
...if only I had some in the bank to begin with!

Same here
Also, I'm in a bit of a credit card pickle - nothing horrendous but bad enough to worry me and impossible to pay off very quickly. I'm wondering now whether it's better to concentrate all my efforts on getting rid of that rather than spending it all on extra food. If there is a big bank problem how would people with this sort of debt fare? Would they demand instant repayments of the total amount for instance?

DD

Yep. we too have some credit card debt - hasn't been paid off as quick as we hoped. I personally will continue to add to preps. If they system crashes and they want their money, then can come and get it. We have nothing worth anything to give them. Take us to court and we'll offer to pay back the minimum amount possible. Hell, we'll even go bankrupt if it came to it (we've already discussed this!).

[scoobie]

Yep. we too have some credit card debt - hasn't been paid off as quick as we hoped. I personally will continue to add to preps. If they system crashes and they want their money, then can come and get it. We have nothing worth anything to give them. Take us to court and we'll offer to pay back the minimum amount possible. Hell, we'll even go bankrupt if it came to it (we've already discussed this!).

Yup, exactly the same in my house..

[TimeisRunningOut]

Seconded.
...if only I had some in the bank to begin with!

Same here
Also, I'm in a bit of a credit card pickle - nothing horrendous but bad enough to worry me and impossible to pay off very quickly. I'm wondering now whether it's better to concentrate all my efforts on getting rid of that rather than spending it all on extra food. If there is a big bank problem how would people with this sort of debt fare? Would they demand instant repayments of the total amount for instance?

DD

GetOutOfDebtFree.Org

(Sorry if I'm not allowed to post links)

[diamond lil]

I think I'd get a good stash of food and stuff in and then hit the debt hard with every penny. Really scrape and live on beans & toast to pay it off. We haven't got debt. Couldn't afford it Not got a credit card, dont like them. In the old days when the kids were home, OH's bike came first before anything. If the bike was off the road then we ate beans till it was fixed. We didnt mind. Debt is a millstone round your neck and I feel for anybody stuck with it xxx

[itsybitsy]

I've been wondering about credit card debts, etc. If the stock exchange crashed, and we ended up in a proper financial meltdown, surely some of the banks/credit card companies/lenders would go belly up anyway, wouldn't they? So what would happen to the debt?

I'm also in the same boat - got a lot of CC debt. But that's the last thing I worry about these days TBH. You can't go to jail in this country for owing money - debtors prisons closed yonks ago!

[preppingsu]

I think I'd get a good stash of food and stuff in and then hit the debt hard with every penny. Really scrape and live on beans & toast to pay it off. We haven't got debt. Couldn't afford it Not got a credit card, dont like them. In the old days when the kids were home, OH's bike came first before anything. If the bike was off the road then we ate beans till it was fixed. We didnt mind. Debt is a millstone round your neck and I feel for anybody stuck with it xxx

3 years ago we were debt free, then decided to go on holiday abroad (period of very bad family stress and it was a welcome relief) but it went on the credit card. Bad move! Downhill all the way. Also, unexpected car bills (bloody things) - we never seem to get our head above water with cars, always costs more than what we have. Trouble is we need the cars for work! Can't wait for regular work so I can hit them hard (with a lump hammer ).

[scoobie]

GetOutOfDebtFree.Org

(Sorry if I'm not allowed to post links)

That's actually a really interesting site. I've skim read a couple of the pages, so not had chance to research it fully yet, however..do you know if these tactics have actually worked for anyone?