Credit crunch – Are bad employers/managers using this to exploit or make employees redundant?

Well in times like these all employers are looking at ways to cut costs. If they feel they don't need all the staff they have then yes they will make some redundant in order to save money. If they need all the staff then no they won't do it. At my work they made 2 people redundant because they felt their team was not a core part of the business and for the salaries they were being paid it wasn't making the business enough money, but they did try to find other areas of the business they could move the people to first.

I feel if times weren't tough then they wouldn't be making people redundant and I don't believe it's just an excuse because if you get rid of staff that you need then there's no one to do all the work is there?They certainly are.

As with the last financial debacle, the work force with the knowledge will be sacked first, just to suit the accountants.

When things improve, where are those people in the know?.

Retrained and off somewhere else.

Might be a good idea to get rid if the accountants first.

 

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Why was there even the thought of a government taking over bad debts from creditors?

Something you need to know.. That crap they told you about a "market economy?" That was what it was – crap. Since the Great Depression the government has been in up to their ears in socialism. Not just the UK, not just the US, but just about every country in the world.The theory is that these loans are worth 10% of their face value. They will never be repaid. But no one knows who is holding how many of them. So no bank wants to loan to another bank and find out that the 2nd bank is really insolvent… due to a pile of bad debts. So no one is loaning any money to anyone until they find out where the "toxic" debt is hidden.
The government could go after the debtors but they don't want to do it. It looks bad in the newspaper..

 

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My boyfriend is in serious debt am i wrong to expect a Christmas present?

Why would you be upset at someone at Christmas time when they are going through hard times? Have a little compassion for others. You tell him not to worry about a gift for you this year and give him less stress.Yeah, that's a bit selfish on your part. Christmas shouldn't be all about the tangible gifts. Maybe you could do something nice for them: giving is part of Christmas. Plus, it would mean the world to your boyfriend and his mum.I would say no. Because he doesnt have to spend a lot of money, he could get you something thoughtful, or write you a love peom or something.
Or he could make a cutback (say not having his weekly pint at the pub etc) and use that money to pay for it.yes you are selfish you should tell him u don’t want a present i mean i know u do…how doesn’t but still he is in debit if u really like u would care about him in about how if he does get you a persent it is just going to put in more debt soo…..i hope my answer help i am not trying to be mean i just want u too see where i am coming from…!!Presents dont have to cost a load of money! something very small to say I am thinking of you would do! Or he could offer to wash your car, cook a meal etc. Just a gesture to say I care would be fine.

Also make sure that he not pressured into spending money he cant afford on others either!!Well, do you really want to be that person?
The materialistic girlfriend who DEMANDS her present despite knowing the situation her boyfriend is in. He’s able to make you a gift, but other than that…you really need to figure out your priorities woman.I'd be dissappointed hun , if he's earning still , he should be able to afford something small for you!

I dont know your situation , but my bf's crap with money , i never expect owt from him , yet i always give
its improving though

It depends how long youve been with him and stuff , ive learnt dont put in as much if your not recieveing anything back

Yeah you have a right to be upset but . . .id be more upset if he had tons of money and didnt but you owt special

Just try and support him Yeh thats bad. If u want a present that much go buy urself one. He must feel really bad not getting u n e thing, without u even going to make it worse. U shud support him not bitch at him, wot have u dont to help him out? Ur supposed to be a team yano.If you haven’t already complained about it, suggest that in light of his financial challenges this year, that you have a limit on the price of the gifts you exchange. Make it a low number, and talk about maybe a theme or how it can be something funny or meaningful, instead of something of commercial value.

Gift giving is supposed to be an expression of caring, not a grim obligation. It needn’t be expensive. But you need to tell him that.To some degree, yes. Even if he can’t go out and buy something for you — that would indeed be too much to expect if he’s in terrible debt — you’d think he would do something for you instead, even if the cliche’d “coupon book” (coupons for things he’ll do for you).

You may have a right to be upset/worried depending on the circumstances of the debts, also. If it’s not her fault and she’s doing as best she can — say, medical expenses — then he’s a good man, looking after family. If she’s a gambler, or wasteful, or irresponsible, and he keeps going in afterwards to clean up afterwards and take the responsibility for her that she rejects, then he’s an enabler, and things likely won’t change.what’s his mum have to do with anything? Is your boyfirend 12?

Who said a Christmas gift had to cost anything?
He could clean your whole apartment, cook you a great dinner, actually sit through “The Notebook” with you, anything that shows he cares.

Expecting something of monetary value from him eventhough he is in debt would definitely put you in the wrong from my window at least.If I were in his situation, I would try to make something myself, and do a really good job with it and put and lot of love into it. Or, I’d buy something inexpensive but thoughtful.

If I were in your situation, I’d try to show a little understanding, for crying out loud.I think that it is a very diffucult moment for your boyfriend…if you love him you must support him! I think that he is mad for your christmast present!

http://uk.answers.yahoo.com/question/index?qid=20081210063514AAJQrXD&r=wI would think you would be happy that he has placed his mom and her difficulties before all else. Put any hurt aside and consider yourself lucky if you get to marry this man. He has a positive attitude. His love will make up for any missing gift.Christmas is more than just presents, he sounds like an okay guy by helping someone other than himself. He could give you a token gift expressing his care for you. Watch however that what he is telling you re his mothers debt that it is the real thing. Is he generally kind and considerate? Does he give you gifts for other occasions? For some this might be a deal breaker.

I almost never receive a gift for any occasion, and I often reflect on the fact that daily kindness would be a tremendous gift.

I just read your edit and it sounds like he is not the gift giving type. Is he considerate most of the time? He doesn't sound like marriage material until he puts you ahead of Mum. I wouldn't sit around waiting for that to happen. You just need a completely different guy. The fact that he isn't getting you a gift is kinda the icing on the cake of the whole bad relationship. Go find someone who puts you first.

Some guys just hate to shop and don't really know what to get so this may be his way of copping out.

To spend either Christmas Eve or Day together and prepare a special meal for each other would be a good exchange.

This can be a situation that makes you two stronger or breaks you up. You have to decide how much you really love him and if you believe that he really loves you.If he is handy, he could make a present for you. Then it would be something from the hand and heart, rather than from a store. If you cared at all for him, you would accept this sort of gift. A bit of disappointment may be ok, but to be upset would be wrong. your boyfriend should be buying you a christmas pressie, he soon helped his mum out with cash so you are not being selfish at all expecting something. my hubby just been made redundant and if he didnt get me a christmas pressie i would be making him redundant too!! youre right there are plenty of nice gifts cheap out there at the moment. hope you get something as you deserve it like everyone else. good luck!! xIf a gift matters to you then he should know that and get you something, if he cares about you and your feelings (apparently that’s what boyfriends are meant to do.) If he is in debt then you should be understanding (which it appears you are) and expect/accept something inexpensive.I don’t think you are selfish. He could put some effort in and get you loads of stuff and spend hardly any money – he just needs to get creative. If he can’t be bothered then is he worth keeping? Someone once brought me a small shell back from their holidays – not a fancy one bought from a shop just an honest to goodness beach find. I was so touched that he had taken the care to get it back to the UK and then brought it to me because he knew I would like it – I still have it almost 20 years later. Or why can’t he make you something. An ex-boyfriend when I was a student made a pair of earrings for me – how impressive is that? And they must have cost pence to make but I realy apprecaited them – I felt really special and cared for.If you are expecting a swanky present than yes you are wrong! But if you just want some show of appreciation than no I don’t think you are wrong. Even when I have been impoverished I have always got my loved ones a present even if it has only been something cheap from a charity shop or a cake I’d made. If I really could not afford anything I’d do some chores for them. If he usually makes the effort to show you that he appreciates you then I’d probably let it go.

Whilst it is admirable that he is helping his mum I hope he won’t continue once you two are more serious, especially if you are planning on having kids one day.

 

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Can you use splash cards for direct debts?

I don’t think you can. You would have to guarantee that the money was in the account every month before the direct debit comes out as you are not allowed to go over what you have loaded on to the card. It is not advisable to do this as the direct debit would default should there not be enough money on the card. This may result in further charges from the company requiring the payment. Also, you get charged to top up the card with money and then charged to use the card e.g. purchase. Its not really a good option.

I hope this helps

I have a Virgin Money Pre-paid card and you can’t have a direct debit come out each month because the money isn’t

 

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Why are the big three autmakers in serious debt? is this really true? how could this be?

It is as simple as that. All manufacturers depend on the bank credit for the development of their enormous manufacturing process and saling history. When there is a credit crunch, the first thing that happens is that potential customers don’t get any bank loan. Appros. 80% of car sales are based on credits. That means that automatically less cars are bought. So the manuacturer has enormous stocks of pieces, semi-manufactured products and finished cars. All this represents an enormous financial charge for the car maker. At the same time, huge sums of wages go to its debit. So he is exposed to a general stoppage in the manufacturing otherwise it will be choked on huge stocks.
The car industry together with shipbuilding and building industries are branches with multiplied effects that comprise a geat number of smaller industries as subsuppliers. These are automatically drawn into the general crisis with huge redundancy problems. Economists speak in these cases of key industries with a kind of domino effect.
One must also bear in mind that these industries have enormous investment burdens in form of new machines and appliances.
Modernization is a permanent must.Ford has a huge debt of $156.79 billion.
http://finance.yahoo.com/q/ks?s=F

And the other two automakers aren’t much better off.

A part of the problem is the fact that the three automakers have unionized workers who have much higher wages and benefits than the non-unionized workers of Toyota and Honda have. Which makes US automakers uncompetitive even with foreign automakers who make their cars in USA.

The other part is health-care costs. Virtually every developed country has socialized universal health-care system paid for by taxpayers. Only USA doesn’t have that. In USA it’s the private companies who have to pay for the health-care of their workers. And this makes many US companies including the automakers uncompetitive in international trade.

US automakers can’t compete against imported cars partly because the foreign companies that make these imported cars don’t have to pay for the health-care of their workers. While US companies have to pay through the nose for the health-care of their workers. US health-care is one of the most expensive in the world.

 

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Outstanding gym debt! Please help!?

HI PHIL I WAS THE SAME I WAS LIVING IN HOLLAND BUT MY CONTRACT WAS FOR 6 MONTHS NOW IM LIVING IN LIVERPOOL BUT I STILL OWE THEM TWO MONTHS BUT IF U WERE NOT GOING I DONT SEE WHAT THEY CAN DO AND IF U CANT AFFORD IT JUST TEL THEM U CANT GO INTO DEBT OVER THEM EITHER LET US NOW HOW IT GOESI would report the gym to the Better Business Bureau, or some similar organization like that in the UK. Most gyms have an opt-out clause where you can pay a penalty if you have to break your contract.

But “caveat emptor” to you – next time, ask more questions about what you are getting into. A contract from a gym without using the gym is pretty normal – that’s how they make their money. And if you are the age of majority and you signed a contract, you are expected to hold up your end of the deal.

But if you can get some sort of advocacy agency on your side, they may be able to pressure the gym into making an exception.

Good luck!I know its boring, but did you read the small print before you signed. If they state you couldn’t cancel within a limited period of time ie a year, then you are stuck. Go and see the CAB with the paperwork and they may be able to help. Maybe this will be a lesson to you to be careful when signing papers…we have all been there though. Good luck!if u signed a contract with them, then u need to stick to ur deal… there is no way around it… Use this as a life lesson and the next time u need to sign a contract make sure u read it thoroughly before signing on the dotted line.You need to make sure what your signing when you sign it. If you don’t learn that, then you’re going to have a lot more trouble in life than gym debt. If you agreed to pay 30 bucks every month for 12 months, then they’re going to try to get your money. And are going to get far.

You can probably fight it, but gyms are notorious for being cut-throat in membership finances.

You should appeal strongly and directly to the gym’s managers. But they know you won’t pay for another month, so they have no motive to make you happy when they can just keep taking your money. So if you can’t persaude them to look into their hearts for you, then talk to other members of the gym, or THREATEN to talk to other members of the gym. Put the gym in the position to loose money if they don’t let you break your contract and stop paying for the 12 months. Make sure everything you say is professional and everything you do is legal, though.

Finally, you may be able to find a lawyer who’s skilled in this area, but this could end up costing you more if your lawyer fails you.

Oh, and don’t sign up for gyms. You can get exercise by jogging around the block and lifting soup cans (they get heavy after a while).This is based on English law and assumes you were over 18 when you signed the contract.

Write to the gym (not the debt agency).
Tell them that you did not enter knowingly into a contract with them, and that the alleged contract terms are unfair and unenforceable. Tell them that you do not owe them any money and that their use of a debt agency to attempt to exact money from you is illegal. You require them to acknowledge that no debt exists and to ensure that you hear no more from the agency.
If they wish to continue to claim that a contract exists, they should seek a hearing in the County Court. However, you will contest it and counterclaim for the inconvenience caused by their unscrupulous behaviour.i don’t know anything about the laws in the u.k. but they may be similar to ours in the u.s.

in which case, the gym needs to provide you with the contract (evidence) of the 12 month sign up. you probably signed up quickly and didn’t read the fine print? there are 2 common methods gyms use to contract:
1. pay per month
2. automatic withdrawal of monthly fees with a monthly/yearly/forever contract. (the most common)

most reputable gyms make you a copy of all of this info for you to keep in your files. it also should contain instructions on how to cancel.

debt agencies are persistent and annoying. you need to get proof of this contract for which they are claiming you signed. if the gym cannot provide you with this contract then you need to report both (gym and collection agency) to the federal trade commission or equivalent.

as a consumer it is your responsibility to know and ask for all of the binding contingencies on ANYTHING you sign. obviously you signed something, whether it was a contract or a release form, you need to get a copy of it.

here are some sites that can help you or others understand consumer rights:

http://en.wikipedia.org/wiki/Fair_Debt_Collection_Practices_Act

http://wiki.answers.com
ENTER:
What are your rights in dealing with a collection agency

good luck!

 

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What happens to joint debts under bankruptcy?

They can go after your husband for the full debt, when you have joint debts both parties are liable for the full amount if the other cannot pay. Because of your bankruptcy your husband is now liable for the full debt himself rather then it being a joint debt it is now seen as his full responsibilty. Your abnkruptcy doesn’t shelter him from creditor still wanting payment.

 

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Should my BF ask his mom for help with debts ?

Most family members probably wouldn’t consider helping out since it is credit card debt, unless it was more serious like not being able to make mortgage, car payments, no money for food, etc. these types of circumstances are more acceptable. Personally I wouldn’t ask for help.

It depends on the type of relationship your BF have with his mother, if they communicate on a daily basis. I feel it wouldn’t be appropriate to ask for help. Maybe during one of their conversations your BF can bring up the issue how it’s affecting your lives and the stress it is causing, if she wants to help she will offer her help. It’s just tacky to ask for help when it’s just credit card debt. Yes ask her. This is exactly what parents are for. Go to her with a plan on paper. Bring her a household budget. Show her what the loan amount would be, what the monthly payments would be and even offer to pay a little interest on the loan, like 3%. This will help to show her that you are not seeking a bailout, just a little help.

My mom loans us kids money like this all the time. She is willing to take on the loan and she makes a little money instead of the bank. Of course this is to our advantage too because the interest is significantly lower and she will skip a monthly payment in case of emergency.first, I think I’d go to the Citizens’ Advice Bureau and ask about one of those debt counselling services. once that was done, we’d be in a better postition to know whether we actually still needed the loan, how much etc we’d need and we’d have proof that we’d done what we could to help ourselves first.

 

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Someone is using my home address to run up debts, I’m receiving letters from debt collectors, what to do?

You have to return the letters or be liable for postal fraud.

As far as the phoning…are you listed in the phone book? If so, I would consider changing your listing and going to a private number.

It's a small price to pay for your piece of mind over someone else's debts.

It sounds to me like someone used to live there and moved and didn't bother to offer up a forwarding address, and when you moved in and got phone service, the skip tracer has matched your number to that address and think's you're that person hiding out under an alias.

I would take down every company's agent name, phone number, and address when they call you, and tell them…hey, I'm not this person, I don't even know this person…how did you get this address and phone number? I will not be harassed over someone I do not know, so take my number out of your database immediately!

Then you have names and addresses and phone numbers to send letters to on the ones who refuse to give up calling and writing your address.You might want to try going to the post office and explaining the situation. They may have an actual solution for you. Other than that, all you can do is continue to return to letters with “not at this address” written on them.
One thing though….you say you called the companies to tell them that person doesnt live there. Even though those letters are delivered to your address, they are in someone elses name. You really didnt have any right to open them. Don’t worry too much, you aren’t going to be held liable for anyone else’s debt. Return all letters unopened and marked “Not known at this address” If any bailiffs turn up at your door, do not let them in. They have no legal right to harrass you. Show them your i.d (passport, drivers licence, bank card etc) tell them that they have the wrong address and close the door. They can’t do anything to you if you are not the person they want. Do not take any documentation from them and do not sign anything. Sometimes, debt collectors try to serve a writ (court proceedings) to recover the debt. If this is not for you then you should not take it or sign for it. keep all paperwork, inform the police and contact each debt company saying that this is not you, I’m afraid this could take a long time to sort out.Get in touch with the credit reference agencies and inform them of the fraud.I am having the same problem, and have had for over a year. The previous tenants in the flat upstairs did a bunk and left debts of thousands of pounds. However before they left, they also apparantly redirected most of it to my flat!!

However, there is no issue about me being liable for any of it. I opened a few letters after six months of returning them unopened, and tried to tell the idiots at the debt collection agencies that they needed to stop sending the letters here, but was told that because I wasn't the person they were addressed to, they couldn't talk to me?!

I own my flat, whereas upstairs is rented out so I was worried for my re-mortgaging plans etc.

Anyway, it will not affect you, your credit rating (I spoke to Consumer Credit about that part of it), or anything else, so there is nothing in that respect to have to worry about.

Just keep sending them all back with "NOT KNOWN AT THIS ADDRESS" in big letters all over the front, and eventually they will get the hint.

I've gone from a foot-deep in letters every month (I saved them up and took them to the letting agents for upstairs), to a foot-deep every six months (I'm still saving them up).

Oh, and as a police officer, there is nothing the police can do, and will not be interested – there is no crime here at the moment in your situation or mine…..

 

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Should Scotland repay it’s debt with interest?

Hmmmm, well debt travels both ways you know. England relies on oil revenues coming form Scotland of which is worth far more than a debt from over 300 years ago. If you would like to proceed with your crack pot theory, by all means e-mail Gordon Brown ( Scottish ) and ask him for the money.
Being that England has been supporting them since then and we have poured trillions into Scotland since , I hardly think a few millions would make much difference and as for the oil we pay cash money for that its not a gift, plus it was English firms and know how who discovered and drilled for it not Scottish.I understand your anxiety but it looks like we're just going to have to face up to it – England would be nothing without Scotland. It's little wonder everyone is panicking about the growing likelihood of Scottish independence – without them we'll soon be overrun by narrow-minded Little Englanders, BNP nutters, ASBO underclasses and moaning Daily Mail pensioners. If they cede from us I'll be emigrating north before you can say "Jock Robertson".i recon they have paid their debt on the battle fields around the world don’t you?….the Empire would never have been build without the Scott’s. i think we need to thank them for being a good loyal and true friend and be happy to help them set up. be over joyed to see them make a go of it…..why is every one so mean spirited about Scotland’s independence? i know! they are generally mean spirited about the English but so what!….they love to yell abuse at us…..its part of their make up. i for one think they are a great people and deserve some credibility. i some times wonder if the mean spirited aren’t ‘in some way’ afraid! in case Scotland proves that it can do it.

 

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