At long last, people who cannot pay their debts, will no longer go to jail thanks to this court case. The only people who ever went to jail were ordinary joes and janes who probably only owed a few grand to the bank but never a white collar gangster who owed millions. Proof that the law was designed to protect the rich from the poor. The fact that a financial institution would seek the incarceration of a person for inability to pay a debt disgusts me.
Well done to Caroline McCann.
Phew!
Sigh of relief! I thought they’d come after me!
Yep I hearing you both. If my place goes under, I’m in big trouble.
Agreed this is a good thing, one point I’d raise though, is that Credit Unions usually exist in order to facilitate the less well off who might not ordinarily have access to standard bank credit. This isn’t always the case I’d imagine, but that’s the principle.
hear hear.
They did traditionally Grow Up but loads of people use them now for borrowing home deposits so because credit checks don’t cover Credit Unions.
‘never a white collar gangster who owed millions.’
It comes down to the basic fact that if you owe the bank thousands, you’re in trouble but if you owe them millions, the bank is in trouble and they’ll be as nice as pie to try to sort it out amicably.