Rants 'n' Raves
Finance /Credit Companies
I recently read a letter from a finance company,
which almost dumbfounded me with the sheer stupidity it appeared
The effective content of the letter was that,
if a payment of a certain amount (a relatively small monthly
payment) was not paid, then a payment of the full outstanding
amount (obviously substantially higher) would be required.
I find it incredible to believe that these
kind of letters are actually sent. I can only put it down to
one of two things. Either one, the finance company is genuinely
stupid, and doesn't understand that MAYBE the small payment
couldn't be made, so obviously (well to anyone with common sense)
the larger one would be equally impossible to make. The other
alternative is that the finance company never actually intended
to demand the full amount, but thought it would take the opportunity
to wave a big stick around in a threatening manner.
Either way, I can't see how this kind of letter
can be justified. If the former is the case, then of course
it can just be written off to sheer stupidity, after all, what
sane minded system would say the equivalent of "You can't
afford £50? Ok then, pay £500 instead" - wha?,
and if the latter is the intended purpose, well, I for one don't
respond well to either threats or attempts at bullying, and
not does my friend - the letter, by the way, quickly joined
the after dinner scraps in the rubbish.
While I have receieved similar correspondence
myself in the past - it wasn't a letter addressed to me that
provoked this little ramble - it was to a close friend who just
happened to be having a short term, but nontheless genuine,
financial hiccough, and she just couldn't pay the small monthly
payment (once - EVER). The letter didn't ask if there was a
reason - it just seemed to assume that she had chosen, for no
good reason, to just not pay - the idea that maybe there was
a reason she COULD not pay didn't seem to have been even considered
as a possibility.
With all of the advertising contantly bombarding
us to take this loan, apply for that card, consider this mortgage
etc., it is apparent that financial lenders DO want customers...
I just can't figure out why, once they have them, they consider
it so reasonable to treat them so badly....