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This area  includes many aspects of morality, blame and responsibility, its hard to find a definitive line but as has been borne out by financial watchdog organisations its often down to the lenders policy of lend now worry later so the question remains, 'Are the irresponsible lending policies of the major financial institutions criminal?

We get lots of correspondence from people who have for one reason or another got into trouble through irresponsible lending. All the high street banks, building societies and credit companies are taking a lot of flack about their sales tactics and how easy they make it to borrow, often far beyond some consumers means to repay.

The issues are; What investigation is made by lenders to ensure customers are not getting in over their heads? What effect does staff sales targets have on checks made to ensure suitability of applicants Which lenders use the most aggressive collection tactics? What help and advice is available to customers from both the lender and other sources? Are customers made aware at point of contract that their unsecured borrowing can later be secured against their home? If a customer is not a home owner what other collection routes are available to the lender? What sort of profits are being made by credit card providers? How many people find themselves losing everything as a direct result of debt?

Not only are consumers encouraged to borrow but additional revenues are achieved from people already in trouble by lenders. In America CrimeshareTV contributors tell us some credit cards increase their charges without notifying the borrower which can were told triple the charges. When challenged their excuse was if they noticed a client was borrowing heavily they introduce this practice to slow the borrowing down.

Credit issues and irresponsible lending is of particular interest to CrimeshareTV and we welcome any input including opinions, information and details of individuals and organisations that offer help and guidance. Its reported that some consumers driven to the depths of despair by the shame of debt have committed suicide. Do you know of such a case? or do you have a friend or relative who finds themselves so deep in debt they don't know which way to turn. We need to hear from you - E-mail us, all personal detail will be kept in confidence.

 We will develop this area of the site and include as much of the material you send us as possible.

In the meantime why not go to the forum and have your say? just hit the FORUM button at the bottom of this page. or send us an email and we will post it up.

Fact.  There are more credit cards (74.3m) than people (59M).

Fact. Total credit card debt in the UK is now more than £56 billion.

Fact. Over a quarter of all people in credit card debt have sought medical advice and treatment for stress.

Fact. The lenders are loving it…..

The stats speak for themselves, don’t they? We live in a buy now, pay later society, and boy, do we pay. The average interest rate on these little pieces of plastic is 15.75% - 11 percentage points above base rate.
So who profits out of all this misery? Certainly not the consumer. The lenders (who are as good at ‘spin’ as your average politician) assure us they are doing their best to help customers. One look at their working practices tells a different story.
In most companies, staff are taught aggressive sales tactics. Combine that with preposterously high sales targets and you already have a recipe for morally dubious profit making.
Today's consumer is actively encouraged to get themselves in debt. Hordes of advertisements on TV, in print and online urge us to apply for yet another card, even if we already have massive debts.
And then, when we struggle to pay, what do these great ‘financial institutions’ do? They UP your interest rates. Why? Well, they will tell you (and were deadly serious here) that it is to “slow the borrowing down”. B*ll#!ks. It has one purpose. To make more money out of our misery.
So when you lose your home, family, business and dignity because a of pretty piece of plastic, think on. Personal responsibility is one thing, but trying to work against a system designed to gain maximum profit for minimum effort, we’re all doomed.

Need help with debt CLICK HERE                                                                                MORE

Corporate Crime Vs Community Crimeshare

BBC One's Whistleblower programme on the banks was a fine example of first class investigative journalism.  CSTV were pleased our friends and colleagues at the Consumer Action Group who fight for the right featured in the programme which served to publicise their unbridled success in assisting the consumer to fight back against the tyranny of the banks outrageous charges.

Read more of the incredible progress made by the Consumer Action Group.

CSTV WHISTLEBLOWERS

Media and investigative journalism students at CSTV are collaborating with professionals to produce their own television documentary 'Paedophile = Profit.'  Research is ongoing into the mass of sensitive information fed to CSTV by bank employees who endorse our support for Sarah's Law.  This will be the mother of all TV docs set to blow the lid off corruption in politics, the legal system,  social services and not least the banks and their government appointed financial institutions watchdogs. The Financial Services Authority is corporate corruption intensified being entirely funded by the very banks that rip us off. To add insult to injury the FSA fund and dictate the Modus Operandi of the Financial Ombudsman Service. Banks sell their financial products i.e. credit cards etc claiming to be regulated by the FSA but the FSA advise on their web site they don't cover the selling of loans, credit cards or day to day banking so when the customer complains to the bank about illegal interest charges etc the bank, being a member of the FSA refers the client to the Financial Ombudsman Service (FOS). How many consumers would know of the connection between the banks and the FOS and that in fact their complaint is being dealt with under the control of the bank their complaining about.

Office of Fair Trading Press Release
The OFT has received a Super Complaint from Which relating from interest rate calculation methods. The Which consumer campaign body has asked OFT to look at concerns relating to the number of different methods used by the banks to calculate interest rates for credit cards. The OFT have promised to fast track this well founded complaint and announce within 90 days what action if any it proposes to take!!!!!!

Do you work in a bank and are ashamed of it? Want to play your part in exposing the banks and building society's daylight robbery of the public on television? Contact CSTV's Terry Armstrong.

See for yourself the amazing Whistleblower programme following a nine-month investigation by BBC reporters working undercover in a leading British bank which revealed a culture of ruthlessness and lies which will shock their customers.

Also check out 'Money Guru' Martin Lewis

Anyone and everyone who has a bank account, a credit card or any other consumer credit should check out the 'Money Programme' web page at the BBC.    Its quite an eye opener.

BBC'S 'MONEY PROGRAMME'

A lady died this past January, and MBNA bank billed her for February and March for their annual service charges on her credit card, and then added late fees and interest on the monthly charge. The balance that had been  £0.00, now is somewhere around £60.00.

A family member placed a call to the MBNA Bank:

Family Member:  'I am calling to tell you that she died in January.'

MBNA:      'The account was never closed and the late fees and charges still apply.'

Family Member:      'Maybe, you should turn it over to collections.'

MBNA:      'Since it is two months past due, it already has been.'

Family Member:      So, what will they do when they find out she is dead?'

MBNA:      'Either report her account to the frauds division or report her to the credit bureau, maybe both!'

Family Member:      'Do you think God will be mad at her?'

MBNA:      'Excuse me?'

Family Member:  'Did you just get what I was telling you . the part about her being dead?'

MBNA:      'Sir, you'll have to speak to my supervisor.'

Supervisor gets on the phone: 

Family Member: 'I'm calling to tell you, she died in January.'

MBNA:      'The account was never closed and the late fees and charges still apply.'

Family Member:   'You mean you want to collect from her estate?'

MBNA:  'Are you her lawyer?'

Family Member:      'No, I'm her great nephew.'      (Lawyer info given)

MBNA:      'Could you fax us a certificate of death?'

Family Member:      'Sure.'      ( fax number is given )

After they get the fax:

MBNA:      'Our system just isn't set up for death. I don't know what more I can do to help.'

Family Member:      'Well, if you figure it out, great! If not, you could just keep billing her. I don't think she will care.'

MBNA:  'Well, the late fees and charges do still apply.'

Family Member: 'Would you like her new billing address?'

MBNA:  'That might help.

Family Member:  ' Glasnevin Cemetery, Finglas Road , Dublin 11, Ireland , Plot Number 104972.'

MBNA:   'Sir, that's a cemetery!'

Family Member:  'Well, what the f*** do you do with dead people on your planet?'

There is substantial evidence that “Illegal Profiteering” exists in the banking industry which could be argued as "Theft". Every time anyone goes into debt or is overdrawn at the bank, the bank will send out letters, often one a day, charging typically £28 per letter supposedly as administration charges. In fact these are “Punitive Charges” or “Fines” illegally levied and could be argued as “Obtaining money under false pretences”. “Section 16 of the 1968 Theft Act, Obtaining a Pecuniary Advantage by Deception”. (Calling a Fine an Admin Charge)

In the past Banks have argued that such charges are part of the agreement between bank and customer, but are they? Very often, the bank will waive this £28 "Fee" if asked. Why? The bank is certainly not being 'Nice' to its customer, being 'Nice' is not part of the bank's policies. They are there purely to make a 'Profit' from their customers. No bank would ever waive any legal "Fees" or 'Interest' to which they were legally entitled. This seems to be a very similar situation to "Legislation for Profit": Charging a small fee in the hope that the majority of people will not contest it.

Under normal circumstances, when you are in credit, if a bank writes you a letter, it will not charge you £28 admin charges. There is no extra administration costs for the bank in writing a letter if you are in credit or in debt. If you are overdrawn or in debt to the bank without permission, they will charge you extortionate fees and charges which you are obliged to pay due to the agreement you have signed with the bank. The bank does not have an agreement to charge you, the customer, extra fees or administration charges under any circumstances outside of this agreement. You are already paying the banks administration charges through the extortionate interest and penalty charges.

In levying “Punitive Charges” or “Fines”, the bank is taking on the role of an “Illegal Court” and finding the customer guilty with no charges or right to redress. This is a blatant disregard for the Stringent Banking Legislation, the Common Law and the Civil and Human Rights of the customer. On top of obtaining money by deception, the banks also add insult to injury and contravene other serious human rights issues. Most people go overdrawn generally due to financial hardship. They may be unemployed or be going through any manner of horrendous social pressures and situations such as death or divorce etc.

The last thing that anyone in such a situation needs is to be aggressively attacked and charged by the banks. This sort of financial aggression could be considered as Usury, which should be a criminal offence. If not, it must be considered very immoral whereby a fantastically wealthy organisation can legally cause hardship and poverty to obtain its “Pound of Flesh”.

From 'The Derby Gripe'

Paul Lewis
Thursday March 16, 2006
The Guardian

As legal contests go, it was something of a mismatch. In one corner, a minnow; Brian Mullen, a 29-year-old accountant with an overdraft.

In the other, a rather large shark; Lloyds TSB bank, which took nearly £2,000 of Mr Mullen's money in penalties for bounced cheques, direct debits and standing orders when he exceeded his overdraft limit.

But with inspiration from an article in the Guardian which suggested that bank charges were not legally enforceable, the minnow, it seems, has won.

Mr Mullen, of Stockport, Greater Manchester, used an online court service to lodge a claim against his bank, arguing that penalty clauses are illegal in contract law and, therefore, the bank could not legitimately make money out of his overspend.

When Lloyds TSB failed to defend his action at Northampton county court last month, the judgment was awarded in Mr Mullen's favour.

But the bank failed to pay, and Mr Mullen - who represented himself - went to Stockport county court to get the judgment enforced.

Since Lloyd's failed to settle his bill, it emerged yesterday, Mr Mullen has now been granted a warrant of execution giving bailiffs the power to seize the bank's assets.

"I'm not sure if the bailiffs have arrived yet, but the court has authorised them to seize the bank's assets valued to an amount equal to my charges," he said.

"If the bank doesn't settle they can go in any time they like and take assets to the value of the debt. I have always felt the charges were wrong because they don't just reflect the bank's costs, they are also penalty charges making them billions every year."

He added: "I remember I was charged £110 in one month a few years ago - and I was just a poor student. That's the thing, these penalties are directed at the poor."

Mr Mullen used a website offering free advice on challenging bank charges, www.bankactiongroup.co.uk  to facilitate his legal action.

He believes his success will inspire other bank customers to challenge their charges.

In a statement, Lloyds TSB said it had recently paid Mr Mullen the reimbursement he had claimed in court.

"We do have a right to challenge the default judgment but are not going to do so. Instead, we have paid Mr Mullen the monies he believes are owed to him," the statement said."We believe our charges are transparent and fair and to say these charges are unlawful is inaccurate."

From GUARDIAN ON LINE

By Julian Knight
BBC News personal finance reporter

Like many people who have fallen through the debt trap door, Paul Ronney thought he could handle his borrowings.

"Everything was ok until I broke up with my partner and lost the chance of overtime at work. At that point, I knew I was in trouble and could not make my debt repayments."

Paul, an engineer from Nuneaton, was in for a nasty shock when he totted up his borrowings. In 2001 he owed a total of £37,000 through loans and credit cards.

"I did not want to go bankrupt as it could end in me losing my house, so I responded to a television advert for a firm which promised to free me from my debt."

What Paul was replying to was a firm which specialises in Individual Voluntary Arrangements (IVAs).

IVAs are an alternative to bankruptcy that allows debtors to come to an agreement with their creditors.

HIT   FOR MORE

Graduates leaving university this year had average debts of £13,252, a 5% increase on 2005, a survey has said.

The figures were drawn from a survey of graduates, current students and sixth formers by the NatWest bank.

Although the rise in graduate debt was slower than in previous years, 62% of graduates still left university owing more than £10,000 apiece.

However, sixth-formers heading for college this year expect to leave their courses with debts of nearly £15,000.

That was £1,099 more than the level of student debt expected by sixth formers last year.

For more hit the link

The BBC's Panorama series recently screened an expose on the tactics used by many high street banks to get as many customers as possible 'in too deep'. We would urge everyone who has, or is considering any form of credit to watch the show, its quite an eye opener. Click the link below to view.

You will require either Windows Media player or Real Player to stream this video and of course a broadband connection is best.

At last a bit of good news, the Consumer Action Group has “cautiously welcomed” the Office of Fair Trading's (OFT) conclusions on credit card and bank charges which was recently released. In a nut shell this means that banks, building societies and other financial institutions will have a limit set on what they can charge for sending letters etc. Many of you will know that charges upto £35 pounds for a letter are not uncommon but a study has revealed that these letters cost around 50 pence to generate and send.

But wait there's more, not only are these institutions going to be stopped from making ridiculous charges, if you follow the Consumer Action Group's advice you may be able to get back charges you've paid in the past. In every instance so far the banks have not contested any claim and paid out every time.

We say hooray to Dave and his bank busting team at the Consumer Action Group.
Take it from us a visit to the CAG's website could be some of  the best spent time of your life.

Britain is becoming a "credit card" nation where personal debt is threatening millions of families and the economy, say the Tories.

Shadow chancellor George Osborne says the increased availability of credit had many advantages but it could cause financial misery.

He will tell the Credit Today conference in London that imaginative solutions to the problem are needed.

Three million people had problems paying off debt last year, he says.

In his speech, Mr Osborne will say: "As in many markets, liberalised credit markets have boosted our freedom and boosted our economy.

"But as well as these great advantages, the expansion of credit has brought challenges. First, for some, especially vulnerable families, too much debt can cause misery and great financial hardship.

"And second, high levels of debt, both public and private, make the economy more vulnerable to certain types of shock, and may put macro-economic stability at risk.

"For families, and for the wider economy, more debt means more vulnerability."

Mr Osborne will not offer any detailed solutions but he is expected to suggest broad themes for tackling the problem.

From bbc.co.uk

A father-of-two was found dead the day his family home was to be repossessed by Britain's biggest mortgage lender.

An inquest into the death of Ian Beech, 47, heard his body was found on 8 February on a beach at Wells, Norfolk.

A note to his family asks them to make public the fact that the Halifax had not been prepared to wait over the arrears, thought to be under £5,000.

A Halifax spokesman said it was a tragic case and repossession was "always a last resort".

Insurance payouts

The self-employed electronics expert is understood to have been less than £5,000 behind with payments on a £99,000 mortgage on the house at Wiggenhall St Germans with an estimated value of almost £180,000.

Mr Beech reportedly left a note criticising the bank's actions and urging his family to "do something for the papers to let others know what happened".

He had been unable to pay the mortgage because his profit margins had collapsed, and the court order for repossession had been "the last straw".

He hoped insurance pay-outs from his death would cover the debts and allow his widow, Caroline, and two children Ellie, 15, and Arran, 18, to stay in their home.

On Wednesday the Halifax statement said the repossession notice had been cancelled and the bank was in contact with Mr Beech's family.

"This is a very tragic case and our thoughts are with the family," it said.

"We have been working with Mr Beech over the last year to try and help him through his financial difficulties.

"As you would expect, the court has also been fully involved during this time, putting in place a payment arrangement, and overseeing the case."

The full inquest is to be held on a date to be fixed because the cause of death had not been established.

From bbc.co.uk

Back in May, Real Story reported how one bank, Lloyds TSB, was allowing some of its customers to take out huge loans without properly checking that they could afford to borrow so much.

Leaked documents showed Lloyds had a systemic problem with bad lending, both in its branches and over the telephone.

Following the broadcast, we received hundreds of telephone calls and emails from viewers.

While the majority were concerned about Lloyds TSB, many claimed other banks were also behaving badly.

In this programme, we hear from more people who say they were given loans they could never afford to pay back. They all have disabilities or are living on benefits.

We also speak to bank staff who blame this mis-selling on poor training and the pressure to hit sales targets.

Real Story asks if self-regulation by way of the Banking Code is enough - and whether the government should do more to stop irresponsible lending.

Bank 'offered unaffordable loans'

Lloyds TSB 'breaks lending rules'

Lloyds TSB in lending spotlight

Financial Contacts - Borrowing and Debt

Banks sell loans to the vulnerable

Banking Code Standards Board

Also check out these recent press cuttings

Debt level soars as borrowing continues

Britain awash with debt

BBC News: Britons, it is too easy to borrow money

Banks accused of mis-selling debt cover

Times Online:  QnA - Dealing with Debt

Sources of help and advice
Directory of organisations who can help