Read the case study and consider the following questions:

1. Outline the moral and ethical questions that arise from the case study. ( 1 point)

2. Why did Hamed and Leela get into financial difficulties. (1 point)

3. Who had to take on the responsibilities that Hamed and Leela appeared to have neglected? (2 points)

4. Do you think it was fair for these people/groups to be expected to take on these resources? Explain in a paragraph no less than 4 sentences. (3 points)

5. Would your thoughts about this case study have changed if Hamed or Leela had lost their job and had found it difficult to get another? Explain in a paragraph no less than 4 sentences. ( 3 points)

Losing a Home amed and Leels bought a house and set . about making it into the dream home Each weekend they would set off to mals and buy new furniture and items for the home to make it perfect. They used not just one credit card but a number of different credit cards semed to be easy to get them and there was often a letter being sent to them offering a new credit card with favourable terms Hamed and Leela also liked to have an extensive social life. They invited friends round to their lovely home and spent money on buying high quality food. They also ate out regularly with friends and liked to be seen at They decided to miss a month of their mortone and catch up next month. Having missed their mortgage payment, the bank wrote to them anded for an explanation They were frightened by this and chose to ignore it. Next month they missed their mortgage payment again and received further fetters from the bank. They were also being chased by their credit card companies for late payments Ultimately, the bank wrote to them and advised that as Hamed and Leela had ignored the bank's efforts to help them, they were being given 28 days in which to vacate the house, which was being repossessed so that the bank could sell it to recover the debt. Hamed and Leela found themselves homeless. They decided to seek help from the local government and asked to be housed There was a long list of people waiting for houses. In the meantime, they managed to get Leela's parents to give them a room at their house to live in Leela's mother was disabled. and so this was difficult for her to manage, but she did not want to let her daughter down all the best restaurants in town. At the end of one month, Hamed and Leela received their monthly statements from three of the five credit card companies they minimum amount they had paid on the cards, were with. They were shocked at the fact that the additional interest they had paid on the balance last month was larger than the and so their overall balance had increased They decided to sit down and work out how to manage this. As they went through their finances , they realised that they were living way beyond their means. The credit card payments, their mortgage payments and utility bills almost took up all their combined income. In fact, they worked out that if they paid more than the minimum amount on each of their credit cards just to get the balance lower than it was currently, they would have to take advantage of their overdraft. Hamed suggested to Leela that they deal with this by not spending any more on their existing credit cards but take out a new credit card and use this for their everyday living. Leela agreed. Six months later, things got worse. They had not changed their lifestyle at all, and now found that they still did not have enough to pay off their credit card bills, but now they couldn't afford their mortgage. pank Owned FOR SALE Sell Now Properties