I know that many people are unaware that until the credit crunch HSBC was doling out £80,000 loans to CTC cadets secured against nothing. Add in student loans and a bit on a credit card or car loan and I've met plenty you owe 6 figures secured against nothing more than their Class One medical...
Its a hell of a hole to clamber out of to finally be worse nothing again.
Then you start saving for a house..
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