Thursday, 17 January 2019 17:24

Why Debtors Prisons Are The Answer

As most of you will know, debt and bankruptcy are getting out of hand. The more help there is out there, the more debt problems arise. This is why we think debt prisons are again the answer.

Now before most of you hit the roof and start phoning your local MP, please give us a chance to explain our reasoning.

When someone doesn't pay back their debt, that debt has to be paid for by others that use that service. It’s precisely the same as the effect that shoplifting has when someone doesn't pay for their shopping. Those costs get passed onto people who use the service legitimately. In these cases, locking people up is the accepted and welcomed policy.

So why is not repaying loans any different from shoplifting?

If we brought back debtors prisons, the price of loans could be reduced. They’d be reduced because bad people wouldn't apply for them without a concrete plan to repay them on time. They'd take their own financial responsibility much more seriously if it was linked directly to their liberty This means that there would be less problem debt. Now surely fewer people in problem debt is a good thing and is something that politicians could get behind.

While it is technically illegal to be imprisoned for Civil Debt in the UK at present, you could be imprisoned for not obeying a court order to repay the debt. Basically, if we went to court and obtained a CCJ against a borrower, and they failed to repay that, They could legally go to court for being in contempt of court. 

The law is already there; we just need to enforce it.

Think of how satisfying it would be as your neighbour who is always living beyond his or her means, the one who has been living the high life driving round in flash cars – we all know them – is carted off to prison for a couple of months because he doesn't make the repayments.

At the moment, he’s laughing at everyone else having to cover his high life. This is why it is time for justice for responsible borrowers.

80 comments

  • Comment Link Carl Carl

    But who exactly is going to pay for the cost of these prisons? Our prisons are already overcrowded as it is.

  • Comment Link Anonymous Anonymous

    You know that the snowflake patrol are going to come in a minute and you guys will be all over the media and will be painted as the bad guys? What you are saying does have merit, although you haven't articulated it well.

    You'd have been better to come up with a different deterrent. Debtor prisons have a really bad reputation.

    In a way, what you are describing already happens in the US. If you cash cheques that won't clear. You are off to prison. That's why bounced cheques over there are very rare.

  • Comment Link Anonymous Anonymous

    1575% APR? are you kidding me? This lot should be in jail for usury

  • Comment Link Anonymous Anonymous

    How about we lock up unscrupulous lenders charging exorbitant interest and preying on the vulnerable? That sounds better

  • Comment Link Anonymous Anonymous

    And what about the people that have been forced into debt through no fault of their own hardly think this is the answer it’s archaric and extremely irresponsible maybe lenders shouldn’t charge ridiculously high interest and the government should stop forcing people into debt by bringing in ridiculous systems like
    Universal credit and sanctions ????

  • Comment Link Anonymous Anonymous

    I love the idea of locking up thousands of ex students.....the cream of the crop who are encouraged to wrack up £50,000 of debt....

    How's about we ban debt and companies that create it ?

  • Comment Link Anonymous Anonymous

    It should be the other way round...irresponsible lenders earning extensive profits from people in abject poverty, should be the imprisonable offence.

  • Comment Link Anonymous Anonymous

    Do you not think that there is a degree of self interest here by Quickloans ?

  • Comment Link Anonymous Anonymous

    So what comes next, decapitating or torturing the poor souls?? Putting them behind bars is something barbaric although I bet some politicians would support that measure

  • Comment Link Anonymous Anonymous

    Return to the days when there was a boundary between interest and usury. Make usury a crime again and then there might be an argument.

  • Comment Link Anonymous Anonymous

    We could make sure companies pay tax by blocking loopholes and ensure they pay a living wage rather than a minimum wage or zero hour contract. We could stop working tax credits which shore up corporations paying inadequate rates. We could stop colluding with causes of poverty and recognise that money earned by the lower percentile is far more valuable being spent than that hoarded offshore by the top percentile. Most debt is not created by fecklessness

  • Comment Link Anonymous Anonymous

    Most people in debt have been forced there by cost of living rising faster than wages. Like other people have said on here, it should be the payday loan sharks who should be imprisoned not the debtors.

  • Comment Link Anonymous Anonymous

    It sounds like quickloans may be in the wrong business. quick, unsecured loans are feeling too risky? oh shucks!

  • Comment Link Anonymous Anonymous

    It costs nearly 40k per year to keep someone in prison, not including lost taxes and the long term costs of making someone unemployable and massively more likely to commit crime in the future. So what we have here is a loan shark trying to push their costs onto the public, get lost Quickloans.

  • Comment Link Anonymous Anonymous

    Perhaps creditors should be punished for lending money to people knowing that they cannot afford to repay it.

  • Comment Link Anonymous Anonymous

    Usury is a crime also lol

  • Comment Link Anonymous Anonymous

    Naw Mate it was tried for centuries and did not work

  • Comment Link Anonymous Anonymous

    Lock people up for not paying us back? are you lot taking the pee?

  • Comment Link Anonymous Anonymous

    I hope this is a peetake !! Only those with appalling credit histories would be desperate enough to borrow money from cowboys like you . Now if they fall behind with their exorbitant repayments you want them jailed ? I'm a different time and place parasites like Quick loans would be facing the guillotine . You should be very thankful we know live in more enlightened times .

  • Comment Link Anonymous Anonymous

    This is genius. So someone whose finances suddenly take a turn for the worse, becoming unemployed, forced on to Universal Credit etc, and can't afford to eat, is put in prison and fed. And the heating is free so they won't freeze.
    Of course it would cost a fortune but I'm sure loan companies would be happy to pay for it.

  • Comment Link Anonymous Anonymous

    Are u serious, jesus, people who work ungodly hours, for crap money, have no choice to sometimes get a loan, just to feed themselves,it's so easy to miss a payment, & get into arrears, & this is what u have come up with, omg,,, REALLY, this has to be a joke, ????

  • Comment Link Anonymous Anonymous

    Obviously someone with a degree who is a snowflake and has probably got student debts wrote this stuff. Even when we had debtors prison, the debt still had to be repaid somehow. You bunch of Regards.

  • Comment Link Anonymous Anonymous

    I'm pretty sure loansharks like you should be locked up instead

  • Comment Link Anonymous Anonymous

    Wouldn't it be fun if the Christians were right, and if one day the author of this article will die and have to explain this reasoning to Saint Peter?

  • Comment Link Anonymous Anonymous

    How about instead of that we take subhumans trash like you and not only lock you up but beat you until you can't move daily instead.

  • Comment Link Anonymous Anonymous

    And who would you expect to pay the upkeep for the incarceration of debtors? The state?

    How does taking someone in employment out of an economy and locking them up help repay a debt exactly?

    I await an informed well rounded response with baited breath, not "wouldnt it be funny if we locked up your neighbours that you don't like?"

  • Comment Link Anonymous Anonymous

    Citizens Advice helps many people who have been lent money on unsecured loans by irresponsible lenders - frequently borrowing sums in excess of their annual salary and at exorbitant interest rates. Clearly no affordability checks are carried out. These loans are obviously unaffordable and the consequences wreck lives. In my view the irresponsible lenders should be in prison, not their victims.

  • Comment Link Anonymous Anonymous

    Wonder if the oh-so-responsible and principled Quick Loans have a sideline in private prisons? They seem the type.

  • Comment Link Anonymous Anonymous

    Maybe we should have creditors' prisons, lock up the filth like you who encourage irresponsible borrowing and charge horrendous interest rates. Hope you go out of business soon

  • Comment Link Anonymous Anonymous

    I look forward to the day these shysters are permanently closed.

  • Comment Link Anonymous Anonymous

    Jails should only be implemented for bad lenders .If you lend we Mary from down the street £1000 at 80% Apr when she on £70 jobseekers allowance a week you know fine well you ain't getting it back , it would literally force criminal records on people causing them to either lose there job or be unable to get a job how would this help debt ever being paid off.

  • Comment Link Anonymous Anonymous

    How ridiculous an idea this is
    It restores my faith in the stupidity of the human race

  • Comment Link Anonymous Anonymous

    The bankruptcy laws were designed by rich people to get them off the hook in bad times many decades ago and they never thought that ordinary punters would be able to make use of them.....or that they would owe the kind of huge sums seen these days. If it's a big problem it's the fault of the slap dash lenders.

  • Comment Link Anonymous Anonymous

    Most loan companies feed of poor for big profits and now you want the poor and desperate to suffer more how many bankers were jailed for the 2008 crash?

  • Comment Link Anonymous Anonymous

    Do better due diligence rather than handing money out at astronomical interest rates to anyone with a pulse. Did you sleep through the last recession or do you just let m**** write your copy?

  • Comment Link Anonymous Anonymous

    No doubt Quick Loans have plans drawn up, have done due diligence & know how much turnover each judge wud be responsible for. Prison Industrial Complex seems about right

  • Comment Link Anonymous Anonymous

    payday loan companies deserve to be ripped off, they pray on the desperate so sod them

  • Comment Link Anonymous Anonymous

    Oh yes, let's bring back the sponging houses! Genius! That way, those without the captial to service their debts can be locked away, safe from any prospect of employment. And the taxpaying public can fork over the cash to build these bloody prisons, I suppose? And pay for their staffing?

    You understand that the nature of a debtor's prison is that the person who owes you money is then prevented from working, because you've just locked them up, right? So they just stay in prison indefinitely, at the state's expense, until a) a relative bails them out, or, b) your hypothetical Hate-Thy-Neighbour Prodnose who despises anyone who drives a slightly-newer-looking car than he has forks over the cash because the house next door has been standing empty and a bunch of crackhead loansharks have moved in and started breaking people's knees while he's trying to get some sleep.

    Did you s***** **** buy up all the real estate in the bloody liberty of the Savoy, or something??

  • Comment Link Anonymous Anonymous

    I suggest you stop making money out of other people's desperation and consider why people take out loans from you in the first place. Usually because they have exhausted other sources or perhaps have poor financial skills. The risk is yours whatever. Why should the tax payer pick up the bill for prisons when it is your shareholders who benefit from your practices. Maybe they should fund these prisons.

  • Comment Link Anonymous Anonymous

    This article is highly revealing about your philosophy and lack of ethics. Would it be another branch of your company running them? Companies like yours should be campaigning for better financial education is schools. The mean spirited and vicious speculation suggests you are in dire need of some moral education yourselves.

  • Comment Link Anonymous Anonymous

    Only someone struggling with their finances would take out a payday loan from loansharks like you anyway. If they weren’t already in debt they would go to a reputable lender without the extortionist interest you charge. Don’t think it’s a good business move to want to put the majority of your customer base in prison. Hope they all avoid you like the parasites that you are.

  • Comment Link Anonymous Anonymous

    You rasie a very disturbing historical practice, one that was thankfully abolished and no government has or will consider it as a serious idea to acomplex issue.
    .Firstly, we know many companies like yours, prey on the vulnerable, the sick and those unlikely to get credit from most reputable lenders.
    The business models used in high cost credit industry has built within them an expectation of a no of defaults, that's why you have insurance, unfortunately your customers do not have that luxury, nor do they have access to lawyers baliffs and other debt enforcement procedures.
    What would prison achieve? Many of your customers are struggling with Universal Credit, raising children and poor mental health, prison would ony worsen things for them and their children.

    What is really needed is 1)Access to affordable credit for vulnerable people, 2) Financial education, 3) The outlawing of high cost credit companies like yours that prey on the poor and vulnerable. 4) Living wages, adqueate social security that can provide a reasonable standard of living instead of impoverishment and destitution.

    I will be notifying my MP and Martin Lewis of your post.

  • Comment Link Anonymous Anonymous

    If you’re looking to the past for ideas how about expropriation for rentiers and the guillotine for profiteering.

  • Comment Link Anonymous Anonymous

    schadenfreude - "Think of how [satisfying it would be as your neighbour who is always living beyond his or her means, the one who has been living the high life driving round in flash cars – we all know them – is carted off to prison for a couple of months because he doesn't make the repayments."
    What kind of weirdo would get satisfaction from that? Jealous, shallow people

  • Comment Link Anonymous Anonymous

    Typical Neanderthal opinion from scumbag credit company....

  • Comment Link Anonymous Anonymous

    How about banning over the odds interest rates?

    Or what about policies that don’t encourage people into debt with easy credit?

    Or what about actually paying people a decent wGe instead of as little as you can legally get away with?

    Js

  • Comment Link Anonymous Anonymous

    And which century exactly were you born in.? 17th, 18th.?

  • Comment Link Anonymous Anonymous

    People are already sent to debtors jails for wilfull refusal to pay council tax, this is the poor law. We are the only country in the western world to carry out the archaic and unconstitutional practice. Its criminal and should be stopped.

  • Comment Link Anonymous Anonymous

    hold on, you want my tax to pay for incarcerating people just because you don't manage the risk in your business very well? You are basically asking for public subsidies to de-risk your business.

  • Comment Link Anonymous Anonymous

    That’s rich coming from a scummy company offering loans with 1509% interest to people who can’t get “normal” credit, in many cases simply because they’re poor!

  • Comment Link Anonymous Anonymous

    So you charge criminally high interest,Don't do due diligence before giving loans then want taxpayer to bear huge cost of prison to scare people?And then pretend you would lower costs?Talking mince

  • Comment Link Anonymous Anonymous

    I look forward to the day when the UK is out of the EU and we will have the freedom to be patriotic Briton and march all the financial crooks exploiting working class people into prisons and leave them there to rot.

  • Comment Link Anonymous Anonymous

    So because my wife was unexpectedly laid off by her work, we have fell behind on some payments we could afford before, we should be in jail??

  • Comment Link Anonymous Anonymous

    There should only be one rate of interest allowed for private loans, set by the Bank of England. Any lender charging more interest than is allowed by law should be sent to prison. Money is not important enough, we may need to cancel all interest on loans very soon.

  • Comment Link Anonymous Anonymous

    Money is debt without loans the economy would stagnate therefore looking beyond companies like this who borrow at 0.75% and lend at 1500% most borrowing is money creation and necessary, the rate of default is not high enough to substantially increase borrowing costs

  • Comment Link Anonymous Anonymous

    Just bring back workhouses too then the virtuous circle of screwing everyone for money will be complete. How about charging the debtors for staying in prison too. Just add it to the debt. If you charge a fair rate of interest on the loan you wouldn't need debtors prisons. Your model is scandalous and will be rendered illegal if a Labour govt gets into power.

  • Comment Link Anonymous Anonymous

    You are disgusting

  • Comment Link Anonymous Anonymous

    Whoever wrote this is quite clearly a CNT.

  • Comment Link Anonymous Anonymous

    Does it not cost money to send people to prison? And the debt would still be passed on to the legitimate people that use the service. From my point of view you need to stop handling money if your solution is to cause more bad debt unless your paying the prison bill and taking on more bad debt? Obviously the person that wrote this doen't understand the financial implications.

  • Comment Link Anonymous Anonymous

    How about prisons for the criminals who lend money to vulnerable people with extortionate interest rates instead?

  • Comment Link Anonymous Anonymous

    Tory behavior

  • Comment Link Anonymous Anonymous

    really... what a buch of t**ts!! These people are probably desperate and in need of financial help. Maybe its too keep a roof over their heads instead of living on the streets, or keeping their family fed and warm, or maybe just maybe its helping them keep alive. So many people in this country suffer with mental health problems... do you even ask this when some applies for a loan. SHAME ON YOU!!!

  • Comment Link Anonymous Anonymous

    Remove this silly blog post and issue an immediate apology on your Twitter page or face your website being closed for the next week via DDOS. I have just tested my botnet against your server and it dropped like a sack of s. You have 24 hours to comply.

  • Comment Link QuickLoans.co.uk QuickLoans.co.uk

    Amazon cloud pal, behind Cloudflare. Good luck with that. Tell you mum it's time for school, see if she can drop you off.

    Also cheers, this new cloud setup if much faster than before. Great results.

  • Comment Link QuickLoans.co.uk QuickLoans.co.uk

    Maybe it should not be so easy to get a loan these days, there is hardly any financial checking to see if the loan is viable, it is too easy for someone who is already in debt to get more loans and increase their problem. When you had to sit in front of the bank manager to borrow money it was a much more robust process and there was far fewer people with debts they cannot service. Like most things today the attitude is ' I want it and I want it now'!

  • Comment Link Anonymous Anonymous

    You can’t go to prison for not paying a CCJ

  • Comment Link Anonymous Anonymous

    I am reading this right you want to go back to the dickens time in early 19 centry ,where the people with money did what they wanted and everyone else struggled. If I am right then you want to bring back the work house which was a concept that didnt work . If you believe in a fairer system , why don’t we get payday loan companies to check pay slips ???? Or see bank statement to see if the loan is affordable . But let’s be honest payday loans wouldn’t agree to that . But seriously why aren’t the government putting more time into promoting credit unions or improving the banking system so people dot have to rely on payday loans . The system is broken until the capitalist economy is fixed then we will carry on having stories picked up in the daily mail which the middle class will agree with and the problem will continue. END OF RANT

  • Comment Link Anonymous Anonymous

    replace the food stamp system with an Eat The Rich program

  • Comment Link Anonymous Anonymous

    So, after my two months in jail, my debt is wiped? I'll take that deal.

  • Comment Link Anonymous Anonymous

    I know one thing. I don't care if I'm starving to death. Even if I had the opportunity to take a loan, I'll never take a loan from this business, or recommend them to anyone. This article is garbage and the person who wrote it should feel bad they even fixed their fingers to type it.

  • Comment Link Anonymous Anonymous

    As someone who has just had to file for bankruptcy due to irregular jobs and outsized interest rates on loans, I think the answer is to bring back usury laws. I fully intended to repay when I took out my loans, but the complete inflexibility of the borrowing system forced me into bankruptcy when there are other options. Specifically, my debtors insisted on an outrageously aggressive repayment timeline while continuing to charge interest and late fees.

    Debtors' prison should be the last resort, and the cost of imprisoning people and providing for their food and shelter should be weighed against the ability to restore them as productive members of society sooner. Bankruptcy is already a prison of sorts because it becomes difficult or impossible to qualify for new housing and other purchases. Let's have fairer loan terms and interest rates with the ability to renegotiate when times get tough so borrowers aren't forced into untenable situations. Loan approval processes could be reformed too.

    Or, we could just go full on communism. That would be easier.

  • Comment Link Anonymous Anonymous

    You know how in films and books and things have you have goodies and baddies? You're the baddies.

  • Comment Link Anonymous Anonymous

    "This site is Authorised and regulated by the Financial Conduct Authority, Reference Number 763132"

    Hopefully not for long.

  • Comment Link Anonymous Anonymous

    Says the loan company with crazy high interest rates who make their money from people who are at their lowest point & cannot pay back the loans. This industry needs lots more regulation.

  • Comment Link Anonymous Anonymous

    Wow! At last! Thank you! Now we know for sure . . . QuickLoans are IRREDEEMABLE MONSTERS. At least that's settled.

  • Comment Link Anonymous Anonymous

    It's you lot that need to locked up, in a prison like Newgate, where we could all come and mock you through the bars and throw poor at you.

  • Comment Link Anonymous Anonymous

    Whoever wrote this evil article should be sat down and have the justice system explained. People who steal do not go to jail. And how would anyone be able to repay their debts without the freedom to work a job? I feel like there's also the question of why loan shark companies are just handing out their money to anyone who asks with a running car. Like maybe don't loan money to people who already have too much debt?

  • Comment Link Anonymous Anonymous

    You have just accepted my loan application. I'm never paying you back!

  • Comment Link Anonymous Anonymous

    We should hang usurers

  • Comment Link Anonymous Anonymous

    Too funny... like reading the onion.
    Elizabeth the first introduced debtors prison and the workhouse because prior to that they would cut ears, nose etc from the poor before running them out of town. It was an improvement and it is amusing to see that a return to that system is highly desired by many Tory politicians.

    I’ll tell you another list tradition that ought to come back, the guillotine.

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