Unsecured just means that a line of credit isn’t tied to any particular bit of security.

The us experience suggests it can certainly be better – american banks consistently beat their uk counterparts in customer satisfaction scores. Economist will dunning said it’s really just a little group of canadians who move for the optimum they qualify for anyway.

But theirs is certainly a tradition rich in program, where everyone smiles and wants you a great day time. Significantly, many of us would rather not be queuing to speak to somebody at a counter at all – we’d rather become on our smartphone or tablet. “celebrate every positive matter, want ‘are you doing better than last year? ’ ” newcomb says. Today “did you give food to your kids? Good, celebrate that. The first thing you’ll do to file for bankruptcy is find good legal advice. If any of your creditors or their associates present up, they are not really allowed to interrupt the procedures. The meeting is orderly and quiet.

The judge, or in some situations the trustee, requests you questions and appears at your paperwork. Full digitisation and strong encryption are essential, and business articles administration (ecm) together holds it all. It is easy to see how such a operational program could evolve further, to hyperlink in with future smartphone-based payment systems.