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"Was that the ad for the £568 telly that you can buy on £8 a week installments? I think the final cost came to about £1,250 iirc "I was an Xbox package at around £600, marketed by a mum type woman, selling it as something that’s a need and promoted the company like they have morals and the customers best interests at heart. The lack of critical thinking among the masses is shocking. | |||
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"Was that the ad for the £568 telly that you can buy on £8 a week installments? I think the final cost came to about £1,250 iirc "That sounds about right, sometimes I used to wonder into one of their outlets in town just to see exactly how much more you were paying over the odds to have it instantly. It really astounded me, I saved up and bought a brand new 42" Samsung telly for £250 about 4 years ago from an independent supplier. If I had gone through the h.p. route, I would probably still have been paying, and total cost would be over double what places like Brighthouse are charging. | |||
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" The lack of critical thinking among the masses is shocking. "  | |||
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"Was that the ad for the £568 telly that you can buy on £8 a week installments? I think the final cost came to about £1,250 iirc "Thats the one I saw. 156 weekly payments of £8.  | |||
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"Was that the ad for the £568 telly that you can buy on £8 a week installments? I think the final cost came to about £1,250 iirc
I was an Xbox package at around £600, marketed by a mum type woman, selling it as something that’s a need and promoted the company
like they have morals and the customers best interests at heart.
The lack of critical thinking among the masses is shocking.
"Brighthouse is a terrible company which profits from the misery of those who are often not financially literate enough to understand what they are signing up to. | |||
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" While I know that nobody is forcing anyone to take out loans like this, I think that lending as unethical and exploitative as this should be stopped. " Agreed, the proliferation of bookies, pawn shop/cash converters and loan shops like these since the recession is just plain unfair, cruel even.  | |||
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"I hate places like this. People who can’t afford to buy outright having their pants pulled down. I feel like especially this time of year many people want to give their kids a good Xmas that they will take out agreements with brighthouse and on the surface sure, £8pw is nothing really, but they’re paying off their purchases for YEARS. The final amount paid is just ridiculous. While I know that nobody is forcing anyone to take out loans like this, I think that lending as unethical and exploitative as this should be stopped. " The problem is that without these places they would have to go without
Some might say that’s a good thing , but it must be awful having to explain to the kids that they get nothing for Christmas or their birthday . And what do you do if the Telly packs up , or the fridge , or the cooker ?
People who use these places don’t do so through choice . It’s a last resort , and in desperation plenty of families at least have something . And Brighthouse are hardly a massive money making corporation either . Look what happened to Wonga ! | |||
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"I love all the people that have done the financially modelling to know £8 a week is a rip off. Why not start your own business and offer £7 a week then? Because you'd go bankrupt, that's why. Maybe the real shocking part is how many people take credit that they won't repay. " It’s certainly true that these places take a massive risk when they take the most vulnerable customers on . No one in their right mind would give someone with nothing anything of any value on the premise that they would pay for it eventually . The credit history of the average person using bright house is abysmal , so they are going to have bad debts creating a business model that simply wouldn’t be sustained without high mark ups . | |||
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"I love all the people that have done the financially modelling to know £8 a week is a rip off. Why not start your own business and offer £7 a week then? Because you'd go bankrupt, that's why. Maybe the real shocking part is how many people take credit that they won't repay. " I do have some sympathy with this view point. But the fact remains the people using these stores will probably not be financially literate. There comes a point where good business practices become exploitation. It’s also true that they’re doing nothing illegal, it’s for the government to regulate the industry, and there’s little point blaming individual companies (as much as I personally find them contemptible). Brighthouse are also not doing very well financially, and nearly went bust last year IIRC. | |||
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"I hate places like this. People who can’t afford to buy outright having their pants pulled down. I feel like especially this time of year many people want to give their kids a good Xmas that they will take out agreements with brighthouse and on the surface sure, £8pw is nothing really, but they’re paying off their purchases for YEARS. The final amount paid is just ridiculous. While I know that nobody is forcing anyone to take out loans like this, I think that lending as unethical and exploitative as this should be stopped. The problem is that without these places they would have to go without
Some might say that’s a good thing , but it must be awful having to explain to the kids that they get nothing for Christmas or their birthday . And what do you do if the Telly packs up , or the fridge , or the cooker ?
People who use these places don’t do so through choice . It’s a last resort , and in desperation plenty of families at least have something . And Brighthouse are hardly a massive money making corporation either . Look what happened to Wonga !"Better to go without than pay £2000 for a £600 television, and store up more financial problems for the future. Just as with pay day loans, which people often take out to repay other debt, borrowing from Peter to pay Paul, which creates a vicious circle of debt that will quickly become unsustainable for those on low incomes. | |||
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"I love all the people that have done the financially modelling to know £8 a week is a rip off. Why not start your own business and offer £7 a week then? Because you'd go bankrupt, that's why. Maybe the real shocking part is how many people take credit that they won't repay. I do have some sympathy with this view point. But the fact remains the people using these stores will probably not be financially literate. There comes a point where good business practices become exploitation. It’s also true that they’re doing nothing illegal, it’s for the government to regulate the industry, and there’s little point blaming individual companies (as much as I personally find them contemptible). Brighthouse are also not doing very well financially, and nearly went bust last year IIRC. " This is the point , they aren’t doing very well financially . They made a massive loss last year , so while we look at them and their like as being exploitive , the fact is they fear a service that no one else would offer . Because it’s so risky . | |||
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"I love all the people that have done the financially modelling to know £8 a week is a rip off. Why not start your own business and offer £7 a week then? Because you'd go bankrupt, that's why. Maybe the real shocking part is how many people take credit that they won't repay. I do have some sympathy with this view point. But the fact remains the people using these stores will probably not be financially literate. There comes a point where good business practices become exploitation. It’s also true that they’re doing nothing illegal, it’s for the government to regulate the industry, and there’s little point blaming individual companies (as much as I personally find them contemptible). Brighthouse are also not doing very well financially, and nearly went bust last year IIRC. " I don't think the fundamental problem is that their customer don't know it's not a good deal at the individual level. The evidence would show that people in their circumstances are prone to impulsive behaviour. So my question would be, why do 'we' pay benefits in cash to people that we know can't manage money? Wouldn't an American programme of vouchers be kinder? | |||
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"I love all the people that have done the financially modelling to know £8 a week is a rip off. Why not start your own business and offer £7 a week then? Because you'd go bankrupt, that's why. Maybe the real shocking part is how many people take credit that they won't repay. I do have some sympathy with this view point. But the fact remains the people using these stores will probably not be financially literate. There comes a point where good business practices become exploitation. It’s also true that they’re doing nothing illegal, it’s for the government to regulate the industry, and there’s little point blaming individual companies (as much as I personally find them contemptible). Brighthouse are also not doing very well financially, and nearly went bust last year IIRC. This is the point , they aren’t doing very well financially . They made a massive loss last year , so while we look at them and their like as being exploitive , the fact is they fear a service that no one else would offer . Because it’s so risky ." Another way of looking at it is that they’re doing a crap job of running a highly exploitative business with dubious ethics. I hope they go bust. | |||
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"I love all the people that have done the financially modelling to know £8 a week is a rip off. Why not start your own business and offer £7 a week then? Because you'd go bankrupt, that's why. Maybe the real shocking part is how many people take credit that they won't repay. I do have some sympathy with this view point. But the fact remains the people using these stores will probably not be financially literate. There comes a point where good business practices become exploitation. It’s also true that they’re doing nothing illegal, it’s for the government to regulate the industry, and there’s little point blaming individual companies (as much as I personally find them contemptible). Brighthouse are also not doing very well financially, and nearly went bust last year IIRC. I don't think the fundamental problem is that their customer don't know it's not a good deal at the individual level. The evidence would show that people in their circumstances are prone to impulsive behaviour. So my question would be, why do 'we' pay benefits in cash to people that we know can't manage money? Wouldn't an American programme of vouchers be kinder? " Not really they would just sell the voucher! Housing benefits though should go to the landlords what is happening now is madness. | |||
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"I love all the people that have done the financially modelling to know £8 a week is a rip off. Why not start your own business and offer £7 a week then? Because you'd go bankrupt, that's why. Maybe the real shocking part is how many people take credit that they won't repay. I do have some sympathy with this view point. But the fact remains the people using these stores will probably not be financially literate. There comes a point where good business practices become exploitation. It’s also true that they’re doing nothing illegal, it’s for the government to regulate the industry, and there’s little point blaming individual companies (as much as I personally find them contemptible). Brighthouse are also not doing very well financially, and nearly went bust last year IIRC. I don't think the fundamental problem is that their customer don't know it's not a good deal at the individual level. The evidence would show that people in their circumstances are prone to impulsive behaviour. So my question would be, why do 'we' pay benefits in cash to people that we know can't manage money? Wouldn't an American programme of vouchers be kinder? " That might be a good solution. Vouchers which couldn’t be exchanged for booze and fags (which mysteriously there’s always money for). There are some council flats near me which have £50,000 cars parked outside them, which also seems a little dubious to me... | |||
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"I love all the people that have done the financially modelling to know £8 a week is a rip off. Why not start your own business and offer £7 a week then? Because you'd go bankrupt, that's why. Maybe the real shocking part is how many people take credit that they won't repay. I do have some sympathy with this view point. But the fact remains the people using these stores will probably not be financially literate. There comes a point where good business practices become exploitation. It’s also true that they’re doing nothing illegal, it’s for the government to regulate the industry, and there’s little point blaming individual companies (as much as I personally find them contemptible). Brighthouse are also not doing very well financially, and nearly went bust last year IIRC. I don't think the fundamental problem is that their customer don't know it's not a good deal at the individual level. The evidence would show that people in their circumstances are prone to impulsive behaviour. So my question would be, why do 'we' pay benefits in cash to people that we know can't manage money? Wouldn't an American programme of vouchers be kinder? Not really they would just sell the voucher! Housing benefits though should go to the landlords what is happening now is madness. " I agree with the landlord point. But where does it end, essentially we're saying that these people can't be trusted with money so should all their basic needs to covered in a way such that the only cash they have is disposable income? | |||
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"I love all the people that have done the financially modelling to know £8 a week is a rip off. Why not start your own business and offer £7 a week then? Because you'd go bankrupt, that's why. Maybe the real shocking part is how many people take credit that they won't repay. I do have some sympathy with this view point. But the fact remains the people using these stores will probably not be financially literate. There comes a point where good business practices become exploitation. It’s also true that they’re doing nothing illegal, it’s for the government to regulate the industry, and there’s little point blaming individual companies (as much as I personally find them contemptible). Brighthouse are also not doing very well financially, and nearly went bust last year IIRC. I don't think the fundamental problem is that their customer don't know it's not a good deal at the individual level. The evidence would show that people in their circumstances are prone to impulsive behaviour. So my question would be, why do 'we' pay benefits in cash to people that we know can't manage money? Wouldn't an American programme of vouchers be kinder? Not really they would just sell the voucher! Housing benefits though should go to the landlords what is happening now is madness. I agree with the landlord point. But where does it end, essentially we're saying that these people can't be trusted with money so should all their basic needs to covered in a way such that the only cash they have is disposable income? " Its a no win situation the closest you will get if its a benefits card that can only be used for home delivery at a supermarket on limited products but then you would have another outcry if chips and pizza wasn't on the list and fresh vegetables were. | |||
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"I love all the people that have done the financially modelling to know £8 a week is a rip off. Why not start your own business and offer £7 a week then? Because you'd go bankrupt, that's why. Maybe the real shocking part is how many people take credit that they won't repay. I do have some sympathy with this view point. But the fact remains the people using these stores will probably not be financially literate. There comes a point where good business practices become exploitation. It’s also true that they’re doing nothing illegal, it’s for the government to regulate the industry, and there’s little point blaming individual companies (as much as I personally find them contemptible). Brighthouse are also not doing very well financially, and nearly went bust last year IIRC. I don't think the fundamental problem is that their customer don't know it's not a good deal at the individual level. The evidence would show that people in their circumstances are prone to impulsive behaviour. So my question would be, why do 'we' pay benefits in cash to people that we know can't manage money? Wouldn't an American programme of vouchers be kinder? Not really they would just sell the voucher! Housing benefits though should go to the landlords what is happening now is madness. I agree with the landlord point. But where does it end, essentially we're saying that these people can't be trusted with money so should all their basic needs to covered in a way such that the only cash they have is disposable income? Its a no win situation the closest you will get if its a benefits card that can only be used for home delivery at a supermarket on limited products but then you would have another outcry if chips and pizza wasn't on the list and fresh vegetables were. " This is part of the reason why poor people tend to have poor diets and be overweight. Eating healthily is expensive for those on low incomes. | |||
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"Who doesn’t understand APR Btw credit cards are cheaper than that" Lots don’t. | |||
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"Licensed loan sharks exploiting societal pressures to buy things you do not need with money you do not have. " You are denying some people their liberty by deciding for them, what they do and don't need. Obviously not all their customers default on their debts and if they could get a better deal, they would have. So for some individuals, they wanted something and took the best deal they could get. You'd deny them that liberty because of what a totally unrelated person did. Slippery slope... | |||
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"Who doesn’t understand APR Btw credit cards are cheaper than that" Lots claim to because they feel foolish there are some on this thread who claim to understand it but don't which is sad really and they end up not asking when they should and are taken advantage of. | |||
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"Is there not a legal cap on APR in the UK?? I'm actually shocked reading some of the comments here regarding rates being charged "0.8% for pay day loans. Which still permits 1500% per annum ish. No idea whether that applies to HP agreements such as Brighthouse offer. | |||
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"Is there not a legal cap on APR in the UK?? I'm actually shocked reading some of the comments here regarding rates being charged
0.8% for pay day loans. Which still permits 1500% per annum ish.
No idea whether that applies to HP agreements such as Brighthouse offer. "0.8% per day that should have said. | |||
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"Another way of looking at it is that they’re doing a crap job of running a highly exploitative business with dubious ethics. I hope they go bust. "
Here’s hoping.
Regards offering a better weekly payment because they are raking it in.. I couldn’t look myself in the mirror if this was the kind of business I was into. I’d consider it both shabby and shameful. I do run my own business, and while I don’t make a fortune it is ethical, which greatly benefits my staff and impresses clients so I’ll stick with what I know  | |||
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"Some credit cards have zero percent interest for 18 months Be a better alternative " Not for people with bad credit ratings. | |||
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