Photo credits

The Embalse de Riano in northern Spain. The picture was taken by .... me!

Wednesday, June 11

What Credit Crunch?

Apparently there is a credit crunch, where banks are being more cautious about who they lend money to.

Now, they know that I have a 5x salary mortgage and I owe £XX000 on credit cards which I can not pay off at present.

So why have I just been issued with a new credit card that I didn’t even apply for with a credit limit for a further £5000?

And why has the overdraft limit on my current account been doubled without me asking?

Is it down to me to say "no!" to these people, or should I just spend, spend, spend?


  1. They are making lots of money from you and want to make more (they need to make more because they're in trouble). And yes, it is down to you to say No. Get out of debt as soon as you can because the economic situation is going to get very very nasty...

  2. Sam, i agree entirely. Debt is not a good thing. the Bible says 'owe no man anything', and is generally neagtive about charging interest. And I agree that the fundamental flaws in the economic system are being exposed with rocky times ahead. i would advise anyone to live in their income and not use credit cards at all.


    I also trust the Lord. He has called me to have a large family. Whenever I have had a financial need, an answer has come - usually in the form of increased credit. Last time I increased my mortgage, it was by self-certification. I knew God had told me to buy THAT house. Therefore he was going to give me the mortgage and the funds to meet it. So the salary I stated on my self certification was the one I expected by faith to have in the future, not the one I had at the time. This faith has been vindicated - I now get 20% more than I stated.

    So while my debt looks bad, it does not worry me. But offers of more credit do worry me - is it the Devil's trap or is God making advance provision for financial needs I don't yet know?