Your line is weak but your point is strong: Liveline from 10th January

lazygal · 28-01-2021 03:15PM

Deleted User wrote: »

I always remember the compound interest lesson at school, where we were reminded that loans could be costly... that was back in early 70s.

Did the same lesson in a business studies class in 1995.

Spanish Eyes · 28-01-2021 03:19PM

Ah sure we all partied lol.

Borrowing for home improvements that you will benefit from for years is ok, not so good to borrow for a mega holiday or a wedding on the lifeloan scheme anyway. Eaten bread is soon forgotten.

We were trained by our parents to live as Micawber said in David Copperfield, worked well (mostly).

“Annual income twenty pounds, annual expenditure nineteen nineteen and six , result happiness.
Annual income twenty pounds, annual expenditure twenty pounds ought and six, result misery”

PieOhMy · 28-01-2021 03:21PM

NIMAN wrote: »

Irish people appear to be a lot dumber when it comes to money, or at least they hate paying it back.

Its time our youngsters were taught about personal finance in schools, if they aren't already.

And throwing out a "we bailed out the banks" doesn't mean you should get a loan you took out cancelled for free.

It could be something like 50% stupid but 50% sly as they come from day one never had any intention of paying back, anything but stupid and a neck like a jockeys bollox

NIMAN · 28-01-2021 03:32PM

Deleted User wrote: »

Madness, borrowing for weddings etc.

Aye parents acting the big bollix, having huge weddings for their kids, free bars, helicopters etc, but when it comes to paying it back they just want to moan and say the bank never told them what it was going to cost.

I would agree that there should be some sort of practices to stop vulnerable people taking out loans, but I think there probably already is. These elderly people who took out the loans were likely fully aware of what they were doing and just acted stupidly. Now their kids are moaning on their behalf because a lot of what they hoped to inherit has gone to the banks. No point saying "my mother is in a home with dementia", because she wasn't when he signed the forms and took the 75k.

And I feel sorry for a guy like Brendan Burgess who has to come on and spell out the truth, basically that if you take a loan you have to pay it back. Its simple stuff and people claiming stupidity after the fact won't wash. Their parent probably knew exactly what they were signing up for, get over it.

But poor Burgess will never get a sympathetic ear on the LiveLine. Doesn't fit the narrative.

28-01-2021 03:36PM

That Brendan chap was brilliant. I hope he gets to come on again some time. He should be given his own finance show.

It sounds to me like a lot of people are upset that when the parent dies, they won't get any of the inheritance from selling the house, as the bank will be taking it instead.

lazygal · 28-01-2021 03:39PM

Deleted User wrote: »

It sounds to me like a lot of people are upset that when the parent dies, they won't get any of the inheritance from selling the house, as the bank will be taking it instead.

I think they're actually greedier than that. They've probably watched their parents' home rise in value, especially in areas like Dublin. My parents' home they bought 25 years ago is worth multiples of what they paid. These people ringing in are annoyed a chunk of 'their' inheritance won't be available to them because their parent took out a loan for a wedding they actually couldn't afford. The bank won't be taking all the money made from selling most houses. It'll maybe be 20%, 30% max if the loan to equity ratio is anything like the loan amounts that were taken out.

thecretinhop · 28-01-2021 03:40PM

on tomorrow's show joe defend callers who got loans from foxy bingo insurance dads life insurance and quikquid. (Apr 8644pc)

chrisd2019 · 28-01-2021 03:40PM

Atlantic Dawn wrote: »

I'm expecting Joe to get Eddie Hobbs on before the end of the show.

Eddie is possibly off line in Cape Verde !

gmisk · 28-01-2021 03:40PM

[Deleted User] wrote: »

That Brendan chap was brilliant. I hope he gets to come on again some time. He should be given his own finance show.

It sounds to me like a lot of people are upset that when the parent dies, they won't get any of the inheritance from selling the house, as the bank will be taking it instead.

I agree...but I'd say Joe will be careful about ever letting him on again!

That second part is entirely spot on. They aren't kicking old people out of their homes or anything ffs.

ButtersSuki · 28-01-2021 03:41PM

ShamNNspace wrote: »

Our Joe is a big fan of the infantilisation of people where financial matters are concerned and personal responsibility never comes into it, some utopia he lives in where actions dont have consequences and the money tree never runs dry

It's called RTE caller, RTE.

Government buildings · 28-01-2021 03:41PM

I wonder are they giving the same 5 warnings on the same product in other countries, or is it specially for the Irish to understand?

KaneToad · 28-01-2021 03:44PM

Callers throw out random vague figures and even admit they're not entirely sure.

Brendan reads from the actual literature supplied by BOI at the time.

Callers are believed and Brendan is scoffed at. The 'human' story is more important than the facts.

ButtersSuki · 28-01-2021 03:53PM

KaneToad wrote: »

Callers throw out random vague figures and even admit they're not entirely sure.

Brendan reads from the actual literature supplied by BOI at the time.

Callers are believed and Brendan is scoffed at. The 'human' story is more important than the facts.

Are you new here?

chrisd2019 · 28-01-2021 03:54PM

Deleted User wrote: »

That Brendan chap was brilliant. I hope he gets to come on again some time. He should be given his own finance show.

It sounds to me like a lot of people are upset that when the parent dies, they won't get any of the inheritance from selling the house, as the bank will be taking it instead.

Nail on the head there !

lazygal · 28-01-2021 03:54PM

KaneToad wrote: »

Callers throw out random vague figures and even admit they're not entirely sure.

Brendan reads from the actual literature supplied by BOI at the time.

Callers are believed and Brendan is scoffed at. The 'human' story is more important than the facts.

First time listener, petal?

NIMAN · 28-01-2021 03:55PM

KaneToad wrote: »

Callers throw out random vague figures and even admit they're not entirely sure.

Brendan reads from the actual literature supplied by BOI at the time.

Callers are believed and Brendan is scoffed at. The 'human' story is more important than the facts.

Exactly.
Its not uncommon for people to come on Da LavLahn though and not tell the full truth.

2smiggy · 28-01-2021 04:03PM

Well we deserved that after two weeks of the mother and baby homes. But we will probably start paying for it again tomorrow. The poor researchers are in for it !!

28-01-2021 04:03PM

lazygal wrote: »

I think they're actually greedier than that. They've probably watched their parents' home rise in value, especially in areas like Dublin. My parents' home they bought 25 years ago is worth multiples of what they paid. These people ringing in are annoyed a chunk of 'their' inheritance won't be available to them because their parent took out a loan for a wedding they actually couldn't afford. The bank won't be taking all the money made from selling most houses. It'll maybe be 20%, 30% max if the loan to equity ratio is anything like the loan amounts that were taken out.

I'd take a stab and say the bank looked at the current and potential future value of the house, the interest rate being applied, and decided how much the person could borrow based on those numbers.

In other words, using makey-uppy numbers; my theory is the bank would give you 50k at X% interest, totaling 150k over 15 years, if they felt that your house would be worth at least 150k by the time the loan was due to be repaid. Hence the bank could sell the house, take the money and be done with it.

(All in my imagination of course - I'm not overly clued into these loans, factually, unlike Brendan).

28-01-2021 04:04PM

KaneToad wrote: »

Brendan reads from the actual literature supplied by BOI at the time.

'enough of your ould guff!'

odyssey06 · 28-01-2021 04:06PM

Deleted User wrote: »

That Brendan chap was brilliant. I hope he gets to come on again some time. He should be given his own finance show.

He has his own website: https://www.askaboutmoney.com/

Odyssey 2005 · 28-01-2021 04:17PM

Flukey wrote: »

Dee Forbes is only 53 and she's paying Joe nearly €400k a year!

She's not, we are, however she sanctioned it. Easy tell it's not her own money

NIMAN · 28-01-2021 04:22PM

odyssey06 wrote: »

He has his own website: https://www.askaboutmoney.com/

I have no doubt that these loans will be discussed again tomorrow.

I do doubt that Brendan Burgess will be on tomorrow.

NIMAN · 28-01-2021 04:35PM

Deleted User wrote: »

That Brendan chap was brilliant.

I have heard him quite a few times on Irish radio shows talking finance. He is on a different level to the likes of Charlie Weston, who always sounds like a guy who has just read up on what he's on chatting about.

Brendan however is at this a long time and knows his stuff.

On shows like today however, he is fighting a losing battle. He is never afraid to say things that need to be said, or tell the truth if you want to call it that! I sure he doesn't want to sound like he is preaching, but he often has the hard task of actually saying "I'm sorry but those figures you are quoting can't be right", like he had to do with the last contributor who said a 12k loan turned into a 43k debt. You could hear him tapping away on his PC or spreadsheet to actually come up with accurate figures to present, which goes against the whole angle of the show which was to present "the big bad banks" and a chance for the host to whisper "terrible, terrible" under his breath when the lender actually called in the debt.

As I posted elsewhere, there is little to no chance of Brendan being back on tomorrow presenting the truth, as thats not what the show wants. This is so evident when you have the host telling someone who knows multiples of what he knows "away there with your old guff".:rolleyes:

ButtersSuki · 28-01-2021 04:43PM

NIMAN wrote: »

I have no doubt that these loans will be discussed again tomorrow.

I do doubt that Brendan Burgess will be on tomorrow ever again.

FYP.

BPKS · 28-01-2021 04:52PM

NIMAN wrote: »

I have no doubt that these loans will be discussed again tomorrow.

I do doubt that Brendan Burgess will be on tomorrow.

David 'Man of the people who owe money' Hall will be back on with the Real Manodepeople.

When Joe rocks in at 1:15 tomorrow the researchers will be lined up and warned not to allow anybody on who might make him look (more) stupid.

withless · 28-01-2021 04:55PM

Id say de 'team of researchers' are busy now digging for dirt on Mr Buruuuuuuuuuuuuuuuuuuuuuuuuuurgus.

furiousox · 28-01-2021 05:05PM

Joe after today's show. :pac:

manodepeeple · 28-01-2021 05:15PM

BPKS wrote: »

David 'Man of the people who owe money' Hall will be back on with the Real Manodepeople.

When Joe rocks in at 1:15 tomorrow the researchers will be lined up and warned not to allow anybody on who might make him look (more) stupid.

:rolleyes:

thecretinhop · 28-01-2021 06:50PM

De games tops and de amaretto man ip uuuuuee later un

dvcireland · 28-01-2021 07:16PM

I wunder if Joseph did a drive-by of the elphin and took a photo for his Twitter account

Your line is weak but your point is strong: Liveline from 10th January

Comments