NO CREDIT CARDS FOR IOM RESIDENTS

[cissolt]

11 hours ago, AcousticallyChallenged said:

I agree with you, Hooper’s response is disappointing.

“What do you expect Government to do?” 

Well, I’m sure there’s some avenue through which they can discuss ways to make credit card offerings commercially viable here. They clearly used to be, otherwise none of us would have them.

Hoopers responses are frequently disappointing.

The correct response should have been that we will work with the banks to find a solution.

[Hoops]

12 hours ago, Omobono said:

part of the problem is the Island has a useless debt recovery system the Coroners  pick and choose what they want to collect ,  and are lazy  they cant even collect outstanding parking fines , for government  . the only way to deal with this  is to allow the UK balliffs  to chase UK  banks  credit card or loan defaults or   debts  on the Isle of Man ,  we are becoming an economic  financial backwater  even to Depositors protection scheme  pays less than the UK  system ,  the Government have been going to introduce new debt recovery legislation  for years , so where is it ?  and while Jason is at it  a good  follow up question  would be why do  so many mail order and companies like Amazon refuse to sell or deliver goods to people in the isle of Man , I think there is a link !

A friend won a small claims court victory over a shonky local business. Business hasn't paid up, friend approached the coroner, who needs a payment from her to proceed with recovering the unpaid monies.

[Roger Mexico]

1 hour ago, 2112 said:

I expect empathy and real recognition of the issue. If a certain sector of business had issues arising from policy issues in the UK you can bet your bottom dollar, CM Cannan will take action on the grounds of national importance. 

I'm not sure that even that is true.  After all business credit cards will be affected as well.  We seem to have politicians who are incapable of doing anything except repeating what they are told by civil servants (even if it is obviously untrue or irrelevant).  And civil servants who seem incapable of doing anything which they can't copy directly from England (whether useful or not).

So if anything happens that requires independent thought and action, they just shrug their shoulders and say "What do you expect us to do?".  Even investigating and explaining what the situation is seems to require to much initiative for them.

[Banker]

4 hours ago, Hoops said:

A friend won a small claims court victory over a shonky local business. Business hasn't paid up, friend approached the coroner, who needs a payment from her to proceed with recovering the unpaid monies.

That’s correct the coroner’s don’t do anything including serving writs etc without payment upfront if their fee, think they also take commission on any funds collected. Always been a problem getting debts collected in IOM unless they have a house that can be seized 

[Max Power]

I think that this is something which has been brewing for some years? Several car manufacturers will not offer finance deals to IoM residents, some, such as VW group, wouldn't offer dealers finance on new and used stock, severely inhibiting their ability to trade competitively. This was explained to me as a consequence of their difficulty in chasing down a debt in the island. 

Contrary to Mr Hooper's view, this is something that the IoM Government can do something about!

[2112]

1 hour ago, Max Power said:

I think that this is something which has been brewing for some years? Several car manufacturers will not offer finance deals to IoM residents, some, such as VW group, wouldn't offer dealers finance on new and used stock, severely inhibiting their ability to trade competitively. This was explained to me as a consequence of their difficulty in chasing down a debt in the island. 

Contrary to Mr Hooper's view, this is something that the IoM Government can do something about!

Can? Won’t? Talking about it?

[2112]

2 hours ago, Banker said:

That’s correct the coroner’s don’t do anything including serving writs etc without payment upfront if their fee, think they also take commission on any funds collected. Always been a problem getting debts collected in IOM unless they have a house that can be seized 

I have just read on IOM Newspapers website, £810,000 is outstanding in uncollected/unpaid parking fines. A staggering sum which could really fill IOMG coffers. What are IOMG doing, if someone who is given a ticket doesn’t pay, what action is being taken? Court Action? You literally can get away with things, with people not taking responsibility, and no follow up action chasing outstanding debt/fines, or court action being sanctioned. 

[Max Power]

17 minutes ago, 2112 said:

Can? Won’t? Talking about it?

Exactly, and this has been a developing scenario for more than 25 years. 

Meanwhile the island is blacklisted in the world of finance, and that is the true fact of the matter!

[Banker]

Same issues in Channel Islands & they haven’t got an answer either 

https://www.itv.com/news/channel/2022-09-06/people-struggling-to-get-credit-cards-as-providers-pull-out-of-channel-islands

[2112]

14 minutes ago, Banker said:

Same issues in Channel Islands & they haven’t got an answer either 

https://www.itv.com/news/channel/2022-09-06/people-struggling-to-get-credit-cards-as-providers-pull-out-of-channel-islands

That maybe so, there is an opportunity for IOMG to get its act together, resolve concerns, create new legislation etc. They would truly have something to dick wave over Jersey, which benefits the island. 

[2112]

24 minutes ago, Max Power said:

Exactly, and this has been a developing scenario for more than 25 years. 

Meanwhile the island is blacklisted in the world of finance, and that is the true fact of the matter!

Hooperman and Allinson won’t mention that either. 

[Banker]

20 minutes ago, 2112 said:

That maybe so, there is an opportunity for IOMG to get its act together, resolve concerns, create new legislation etc. They would truly have something to dick wave over Jersey, which benefits the island. 

Best way to resolve is to get all islands together to approach Bank head offices directly preferably with some UK political pressure, maybe all the trips to Westminster will pay off 

[Omobono]

49 minutes ago, 2112 said:

I have just read on IOM Newspapers website, £810,000 is outstanding in uncollected/unpaid parking fines. A staggering sum which could really fill IOMG coffers. What are IOMG doing, if someone who is given a ticket doesn’t pay, what action is being taken? Court Action? You literally can get away with things, with people not taking responsibility, and no follow up action chasing outstanding debt/fines, or court action being sanctioned. 

Hang on a minute is it not the same department that have lost almost £400k on car parking fees at the airport  and other places  just what are these overpaid clowns doing at the DOI  , the treasury should have them  all dismissed  for complete failure the collect parking fees ,and outstanding parking and motor related fines ,

the loss to the exchequer must be nearing £1 million pounds ,  for this little escapade ,  and watch noboby will be held responsible  and lessons will be learned ,   ( IDONT THINK SO )

[Max Power]

1 minute ago, Banker said:

Best way to resolve is to get all islands together to approach Bank head offices directly preferably with some UK political pressure, maybe all the trips to Westminster will pay off 

I think it requires a change in legislation to allow effective debt collection before any approaches can be made. The problem is clear, whether solving it would have unintended consequences is another matter?

[2112]

5 minutes ago, Max Power said:

I think it requires a change in legislation to allow effective debt collection before any approaches can be made. The problem is clear, whether solving it would have unintended consequences is another matter?

Debtors list? Legislation is what Tynpotwald specialises in …………… but not useful legislation.