BG - these people you refer to, who have are struggling so much each month to feed their kids and pay bills - "food, groceries, rent, petrol, utilities (gas, water, electricity), council rates, insurances (building, contents, car, life), medicine, public transport, telco, rego, children's school fees, uniform fees, excursions etc" - jeez, that's pretty much everything.... perhaps they are exactly the people who the bank believes should not be applying for further credit? And since the whole borrowing-of-money system is fairly reliant on banks and other credit institutions, isn't it pretty much up to them to decide who they want to lend money to, and how they want to assess their potential customers?
Or do you think that banks etc should just accept everyone's requests for credit, purely on the 'Yes I promise I'll pay it back" method of assessment?
We occasionally struggle to juggle cash flow at the moment, especially when the unexpected bills come up - the dog's surgery, the a/c that failed, the car that the daughter crashed.... we certainly make do, but it's tighter than we'd like. For that reason, we won't be applying for any more loans/credit at this point.
Beanie Girl, I'm sorry you have had credit applications rejected in the past. It can be a hard pill to swallow, I am sure. Best of luck in the future.
Or do you think that banks etc should just accept everyone's requests for credit, purely on the 'Yes I promise I'll pay it back" method of assessment?
We occasionally struggle to juggle cash flow at the moment, especially when the unexpected bills come up - the dog's surgery, the a/c that failed, the car that the daughter crashed.... we certainly make do, but it's tighter than we'd like. For that reason, we won't be applying for any more loans/credit at this point.
Beanie Girl, I'm sorry you have had credit applications rejected in the past. It can be a hard pill to swallow, I am sure. Best of luck in the future.