Cost of living crisis.

[foxfanazer]

8 minutes ago, pazzerfox said:

 

That is truly sickening! They'll have so much blood on their hands!

[yorkie1999]

If you've got a anything on hp, car etc, and you're struggling, once you've paid half the total loan, you can vt (voluntary terminate)  the loan agreement and hand the goods back  with no consequences.

[pazzerfox]

33 minutes ago, foxfanazer said:

That is truly sickening! They'll have so much blood on their hands!

 

Martin is very pationate about what he says but i fear he is banging his head against a brick wall.  If energy bills do rise by another 65% then i will cancel my direct debit and stop paying.

[foxfanazer]

1 minute ago, pazzerfox said:

 

Martin is very pationate about what he says but i fear he is banging his head against a brick wall.  If energy bills do rise by another 65% then i will cancel my direct debit and stop paying.

But what would the repercussions of that be? 

[pazzerfox]

9 minutes ago, foxfanazer said:

But what would the repercussions of that be? 

Energy companys are powerless to turn your supply off.  If enough people stopped paying then something would have to be done i would have thought.

[fox_up_north]

12 minutes ago, pazzerfox said:

Energy companys are powerless to turn your supply off.  If enough people stopped paying then something would have to be done i would have thought.

I saw Martin Lewis say he can genuinely see that happening and he thinks it will happen with the next 6-12 months. 

[yorkie1999]

There's a fuel protest tomorrow on the motorways down south, which means thousands of cars using fuel so the petrol companies will be laughing all the way to the bank. Instead, these protesters should be organising a mass boycott of one fuel company, they need to sell to make money, just everyone boycott BP and they'll eventually have to reduce their prices which then forces other companies to drop their prices. Not hard is it, just needs organising..... it's not as though there isn't the biggest communication medium ever invented at the fingertips of 95% of the UK population is there!

[Lionator]

8 hours ago, foxfanazer said:

But what would the repercussions of that be? 

They wouldn’t be the only one so I’m not sure where we’d go tbh.

[FoxesDeb]

9 hours ago, pazzerfox said:

Energy companys are powerless to turn your supply off.  If enough people stopped paying then something would have to be done i would have thought.

You can be disconnected for debt, but before that they're more likely to get a warrant to change the meters to pre payment. They load the debt onto the new meters so each time you top up, some of the debt is repaid. The rates are higher for these types of meters, and they'll also pass on the court and warrant costs to you. 

[pazzerfox]

8 minutes ago, FoxesDeb said:

You can be disconnected for debt, but before that they're more likely to get a warrant to change the meters to pre payment. They load the debt onto the new meters so each time you top up, some of the debt is repaid. The rates are higher for these types of meters, and they'll also pass on the court and warrant costs to you. 

If the population "en masse" decided to stop paying, then I think the rule book would be thrown out of the window. 

[Nalis]

13 minutes ago, pazzerfox said:

If the population "en masse" decided to stop paying, then I think the rule book would be thrown out of the window. 

Just be mindful of your credit rating taking a hit in case you are wanting to borrow in the next few years (mortgage / loan / credit card etc).

[Lako42]

2 minutes ago, Nalis said:

Just be mindful of your credit rating taking a hit in case you are wanting to borrow in the next few years (mortgage / loan / credit card etc).

The exact reason the British will not take this mass action. 

 

Like everything, we talk a good fight but when it comes to mass action we'd much rather sit down have a cup of tea and get rammed from behind by whoever it is this time. 

[Nalis]

2 minutes ago, Lako42 said:

The exact reason the British will not take this mass action. 

 

Like everything, we talk a good fight but when it comes to mass action we'd much rather sit down have a cup of tea and get rammed from behind by whoever it is this time. 

Bit of an overreaction mate.

 

Was just mentioning a risk really as we dont know individual circumstances, some people have more to lose than others. I fully support mass non payment btw.

[FoxesDeb]

6 minutes ago, pazzerfox said:

If the population "en masse" decided to stop paying, then I think the rule book would be thrown out of the window. 

Personally I wouldn't want to take the risk. If people genuinely can't reduce their usage to an affordable amount, which seems like is going to be the case come October if it isn't already, they should probably continue to pay what they can afford, then at least they'll be seen to be making an effort. Rates are usually slightly lower for people on DD payments too.

 

Non payment of energy bills goes on credit ratings, which is something else people will want to avoid if they can, and if you have a debt bigger than I think £500 your supplier can refuse to let you switch away, too.

 

For anyone who is struggling, there's some help here:

 

https://www.ofgem.gov.uk/information-consumers/energy-advice-households/getting-help-if-you-cant-afford-your-energy-bills

 

 

 

[Lako42]

18 minutes ago, Nalis said:

Bit of an overreaction mate.

 

Was just mentioning a risk really as we dont know individual circumstances, some people have more to lose than others. I fully support mass non payment btw.

It wasn't aimed at you. It was a general comment on why stuff like this doesn't happen here. 

[grobyfox1990]

1 hour ago, pazzerfox said:

If the population "en masse" decided to stop paying, then I think the rule book would be thrown out of the window. 

Absolutely not a flying pigs chance in hell this will happen, to any scale. This is Britain, we not only do exactly what we are told at all times, but bad mouth people for having the temerity to even question the rules. 

[FoxesDeb]

2 minutes ago, grobyfox1990 said:

Absolutely not a flying pigs chance in hell this will happen, to any scale. This is Britain, we not only do exactly what we are told at all times, but bad mouth people for having the temerity to even question the rules. 

I think it's likely that lots of people will stop paying, but rather than as a protest it will be simply because they can't afford it. 

[grobyfox1990]

16 minutes ago, FoxesDeb said:

I think it's likely that lots of people will stop paying, but rather than as a protest it will be simply because they can't afford it. 

Agreed. The fca do, or atleast used to do, a financial lives report. I remember it came out with some shocking figures, eg 25% of uk adults have less than £100 to their name. This was years ago. I have no idea how people are surviving now, other than via short term debt 

 

edit - actually the figures around savings built up during covid are high. Maybe these savings are being run down now 

Edited 22 July 2022 by grobyfox1990

[Leicester_Loyal]

Starting to notice prices now, can’t just afford to do anything I want anymore, having to cut down. Will probably move in with my bird in October in order to cut costs for both of us, she rents and I have a mortgage (will have to take her on as a tenant). 
 

When my elec & gas fixed contract expires in July then it’s gonna be a big jump. It’s almost at the point where I’m needing overtime at work in order to have a social life, as my basic wage is just swallowed up by bills. Doesn’t help that we keep striking every month as well, but hopefully we’ll sort out a payrise within the next 3 months and that’ll help. 

[Tommy G]

On 20/07/2022 at 12:29, adam1 said:

Increase over £150,000 to 50%

 

Add a new band in at £75,000 - £149,999  for 45% .

 

Wont happen as MPs wouldn't want to pay an additional 5%....

Are you off your rocker?

 

You do realise between 100-125K you pay tax at 60%, plus NI, its an absolute joke.Then you want to put another 5% on £75K plus? Where is the incentive to earn a living? It wouldn't happen as it would be politically unpoplar and unfair for a lot of hard working people!

[Greg2607]

29 minutes ago, Leicester_Loyal said:

Starting to notice prices now, can’t just afford to do anything I want anymore, having to cut down. Will probably move in with my bird in October in order to cut costs for both of us, she rents and I have a mortgage (will have to take her on as a tenant). 
 

When my elec & gas fixed contract expires in July then it’s gonna be a big jump. It’s almost at the point where I’m needing overtime at work in order to have a social life, as my basic wage is just swallowed up by bills. Doesn’t help that we keep striking every month as well, but hopefully we’ll sort out a payrise within the next 3 months and that’ll help. 

I imagine this is going to be the case for a significant proportion of the population.  low wage growth is really coming home to roost for lots of people now.  Good luck with the payrise, i hope you get a decent uplift. 

[Greg2607]

5 minutes ago, Tommy G said:

Are you off your rocker?

 

You do realise between 100-125K you pay tax at 60%, plus NI, its an absolute joke.Then you want to put another 5% on £75K plus? Where is the incentive to earn a living? It wouldn't happen as it would be politically unpoplar and unfair for a lot of hard working people!

I think they have to sort out that 60% anomaly don't they.   once you get beyond £125,000, doesn't it revert back to a lower amount as well? 

 

Here's a question for you tom, as I know you'll know the answer given the job you do.....  I've just tipped over into Top Rate tax... i'm sure there is something around pension's that I need to look at... do you do a self assessment or something once you fall into 40% bracket to claim back the difference???

[grobyfox1990]

18 minutes ago, Greg2607 said:

I think they have to sort out that 60% anomaly don't they.   once you get beyond £125,000, doesn't it revert back to a lower amount as well? 

 

Here's a question for you tom, as I know you'll know the answer given the job you do.....  I've just tipped over into Top Rate tax... i'm sure there is something around pension's that I need to look at... do you do a self assessment or something once you fall into 40% bracket to claim back the difference???

If you are in the 100-125 bracket and your PA is starting to taper off, make more voluntary contributions to your pension to get you below 100k taxable income.

[adam1]

1 hour ago, Tommy G said:

Are you off your rocker?

 

You do realise between 100-125K you pay tax at 60%, plus NI, its an absolute joke.Then you want to put another 5% on £75K plus? Where is the incentive to earn a living? It wouldn't happen as it would be politically unpoplar and unfair for a lot of hard working people!

I didn't realise that there was an anomaly with the 100-125k.

 

As for incentive to earn a living argument, absolute bullsh1t. Why the hike from 20% to 40% for over 50k? Hard working people still work and try to earn more.

[Nalis]

3 hours ago, Lako42 said:

It wasn't aimed at you. It was a general comment on why stuff like this doesn't happen here. 

Fair enough, I misunderstood