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Will the credit problems go back to normal anytime soon? - May 10 2008 14:15:17
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axlandslash44x
Posts: 1440
Joined: Oct. 16 2004
From: Swindon
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On Experian my score is 981/1000 and is excellent (dont ask me how)
yet i cannot get credit at the moment and everyone i ask has said its same for them.
will things pick up again this year credit wise?
what about next year
or are we in this for the next 15 years
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RE: Will the credit problems go back to normal anytime ... - May 10 2008 14:59:54
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dazc
Posts: 4611
Joined: Apr. 2 2003
From: United Kingdom
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what kind of credit?
there is no problem really, unless you are trying to get a 95 % or higher mortgage, have spoken to a few bank managers this last week or two, and all have said they still have money and are still lending, they just arent getting the customers through the door at the moment.
what is it your trying to borrow for/against?
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RE: Will the credit problems go back to normal anytime ... - May 10 2008 15:04:08
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PartyBoy
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Joined: Jan. 14 2003
From: The North, United Kingdom
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There has been an over-reaction whereby lenders have moved from very lax, to very cautious within a short time frame. Hopefully lessons are now learned, at least for now, and we will steadily move towards sensible lending. This will take months though imo, not weeks.
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RE: Will the credit problems go back to normal anytime ... - May 10 2008 15:55:43
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Yohimbe
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Joined: May 10 2008
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Depressions and recessions can be engineered by shrinking the money supply, since some 95% of all money is DEBT created by private banks.
Banks lend money they do not have... you pay back the money they never had plus interest.
When will things get back to 'normal'? Well, some are predicting it will get much worse before it gets any better...
This video helps explain our predicament...
http://video.google.com/videoplay?docid=-9050474362583451279
< Message edited by Yohimbe -- May 10 2008 15:57:57 >
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RE: Will the credit problems go back to normal anytime ... - May 11 2008 8:05:13
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CASS
Posts: 1701
Joined: Sep. 1 2002
From: ENGLAND United Kingdom
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these things always end up going full circle, just look at the 1970's then the 1990's it be happen again
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RE: Will the credit problems go back to normal anytime ... - May 11 2008 8:29:41
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Ash The Man
Posts: 1603
Joined: Feb. 2 2007
From: Carlton in Lindrick
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The banks use other banks money when they lend money to customers, at the moment they are holding back on giving out loans and other credit due to the sub prime crisis. It will get better but it will take a while.
Company credit is also at a all time low, we deal with 500+ suppliers and most of them are saying to us that they are finding it difficult to get business credit, it's the start of the recession if you ask me..
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