From Andrew"I would rather owe the bank money than the banks owe...

  1. bbq
    599 Posts.
    From Andrew
    "I would rather owe the bank money than the banks owe me."

    That wont help you mate in a bank collapse, your debt obligation remains and is transferred to the creditors.
    In the case of Pyramid Building Society, many of the people holding their loans found themselves on higher interest rates as a result of the crash.
 
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