Rate Tarts of the World unite

Anyone who is sick and tired of hearing that well-worn locution 'Political Correctness' will at least have a notion about what lies behind its use as a smokescreen. Language has meaning, and language can be used to wield power and control. In an Orwellian sense, the use of words can also imply contrary ideas, in order to bolster a particular ideology.

In this way, the press uses the term 'rate tarts' to describe people who seek to pay no interest on their debt by transferring credit card balances, taking up 0% or low introductory rates of interest. There you go: the laudable intentions of those who wish to avoid paying interest in an astute manner are no more than whores, prostitutes, promiscuous. It suggests they are somehow beneath contempt, the lowest of the low, or just plain embarrassing.

The banks have complained that this activity is costing them money. What they actually mean, is that they make less money than they would otherwise.

And now, they've decided to 'clamp down' (again, implying illegal activity) on those of us who wish to extend ourselves a little bit of free credit. So the die has been cast, the gauntlet thrown down. Touché. Rate Tarts are going underground. Time allowing, loopholes will be sought and fully publicised on this weblog.

Grant Wankshaft

Even those who view students in the same light as the infamous Viz character, Student Grant may be inclined to be more sympathetic after hearing the news that the average student debt has risen by 12% over the last year. Ironically, the fact that the popular student stereotype is spoilt and middle-class may mean that it was ahead of its time; after all, who else but the middle classes will be able to afford an education at this rate?

The other irony is that it's Barclays Bank that publishes the recognised leading research annually. It's a bit like the hangman writing a thesis on miscarriages of justice.

In the meantime, we await a new Viz character - 'Thieving Usurious Scumbags'.

Fight back?

More bourgeois myths: that you can beat the system by asserting your consumer rights, or using ‘consumer power’. Having said that, there are some interesting ideas in this article. The offline title of this article was ‘How to be a Guerrilla Consumer’, but to be honest, you’d have more effect being a true Guerrilla.

42,000 happy (shiny) people

If you’re one of the 42,000 people discharged from bankruptcy today, congratulations. And, yes, it’s not an April fool.

This has come about because of the introduction of the new bankruptcy legislation 12 months ago. Prior to December 31^st 2003, you had to wait 2 to 3 years to be discharged, but in the 3 month run up to the rule changes, all new bankrupts would be discharged by the first anniversary of their bankruptcy.

We don’t share KPMG’s misgivings about the small number of Bankruptcy Restriction Orders made in the last year. ‘Human Rights loophole’? – Boo-Hoo. Maybe Michael Howard writes their press releases. Once again, the creditors propaganda machine pumps out the myth that debt is the fault of the debtor, and this is further underlined by their reference to debtors approaching their bank manager for advice. How removed are these people from reality? People don’t get advice from Bank managers about their debts, unless that advice is to consolidate their debts still further. The bourgeois idea of the cautious, conservative and helpful bank manager is a myth. They are sales executives driven by targets to sell, sell, sell. How about making them ‘culpable’ in such cases? If only the banks could be ‘co-respondents’ in bankruptcy!

The human race is living beyond its means

So if you are living beyond your means, take comfort: it’s not just you, but the whole of the species. Perhaps anthropologists could form some interesting conclusions from that?

Not strictly debt advice, we know, but the arrogance of capital is that, like a really bad parent, it says ‘do as I say and not as I do’. But everyone is doing exactly as it does. As if we needed reminding, the mass-consumer society, the pursuit of personal profit at any expense is not the way to go.

The Micawber Principle needs to be applied much more widely it seems.

Don’t call us, we’ll call you

No sooner does Call Centre Confidential call it a day, than the Guardian informs us that we’re less then happy with Call Centres.

No surprises there then. But fancy getting revenge by playing muzak to some poor sod on the other end earning bugger-all-money – as if it’s their fault? And you’re paying for the privilege. Daft.

In case there’s any doubt, advice workers spend a whole load of time negotiating call centres, as well as automated services.

All of this is apt because very soon, people in debt will be able to reach a National Call Centre for debt advice. Not to be confused with National Debtline, this is a government funded initiative which intends to make it look like it is doing something about debt problems (cynicism alert!). This will be much outlined over the coming months as the roll-out develops.