MegaSack DRAW - This year's winner is user - rgwb
We will be in touch
This is worth a view. Lets all pay our mortgages according to this chap. 5,000,000 people in negative equity cutting their payments would make for interesting times.
This really is worth a look (yawn)
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yep, I like it - take the hint
And they wonder why the USA got into the state its in and dragged the rest of the western world down with it 🙄
you should actually watch that, its got some good points, but it fails to mention tha fact that the writing down/off of debts does actually occur within the current financial framework. Banks and other institutions will quite often write off a debit, or a portion of it and sell it on to the likes of a debt recovery firm, these firms may purchase these debts for around 10p in the pound.
now why can't the banks turn around to their creditors and offer to sell them their debts back at a written down value? surely if they did that the financial markets & spending could then stabilize?
I'd guess that would be a better option than the current pay the banks (the ones who caused this mess) until the money runs out and then face "a summer of rage".