How much debt do you have?

[Salu]

It's one of those things that is rarely talked about openly amongst friends or colleagues or 'down the local'. Of course it's generally regarded as a private thing. I think there is also a belief that people feel like their debt is of a greater level than their associates and therefore would be more shameful to mention. In reality probably most of their associates have a similar amount of debt or more - so is there a missed opportunity to discuss and share tips etc?

I think it would be interesting to see anonymously on this forum how much everyone owes. It would be also interesting to see comments on your feelings about your debt.

Do you feel debt is fine or is all debt "wrong" in principle?

Are you satisfied that the debt risks you are taking is an acceptable one and under control?

How many times have you remortgaged? Should you ever have to do this more than once?

Has debt ruined you in the past or even at this moment. How do you feel about it and the potential to get more debt?

Please exclude mortgages from your measure of debt

I'm assuming most will not want to disclose the amount in the comments so I've put anonymous ranges as a poll but if you do feel brave then please post..

[Chris]

Just a fixed-rate loan for the family car. It's a good rate over 5 years - a lot better than anything available now, even with the mega-low bank base rate we now have.

[superbiatch]

Can this be a poll as I don't mind saying, but i'd rather it be within a range :rolleyes:

Done - how quick are you?!

[STONEISLAND]

I'm really hoping I will be debt cleared in 3 months!!!!

Paying a big 5 year loan of super early in 3 years!!!
:woot:

[southwell]

When i bought my house last year my parents lent me some for some electrical work, earthing, complete re-wire, new consumer unit etc, so we didn't have to demolish the house when we moved in for any reason.
They just lent me another bit to pay for my new car, although that will be paid off within a few months. Now i have found my feet on running the house bills i will be debt free within 18 months i hope, although i don't pay interest so it's not debt to a company.

Once i have done this we will be working very hard to pay off the mortgage within 15 years.

[deathtrap3000]

Wheres the no debt option in the poll?

Seems a bit pointless choosing the under £500 option if I have no debt.

I am only 18 thought so I have plenty of time to get into debt.

[Damien]

I added mine with Student Loan into account, should I have? :D

[punky]

Can this be a poll as I don't mind saying, but i'd rather it be within a range :rolleyes:

Done - how quick are you?!

Its the way the forum works, it submits the thread and then the poll is added.

----

Moving on...

I don't particularly mind talking about my debt oddly enough. Maybe its because if its out in the open its less of a burden. Trouble shared is a troubled halved and all that.

Basically, I have just over 10k-ish. 9k is student loan debt so not much I can do about it. Just have to wait until I get a decent job and start paying it off. I have just over a £1k unsecured debt (Cancun and Dubai holidays) which I did aim to clear by November. I'll see if I can stretch it out a bit longer on another balance transfer.

Apart from that, my car is paid off and have no mortgage. I usually pay my CC monthly purchases off straight away.

I don't think that's too bad going all things considered. On MoneySavingExpert you hear people that have £50k+ unsecured debt (excluding mortgages). Quite frightening in some cases.

[lauzjp]

Basically, I have just over 10k-ish. 9k is student loan debt so not much I can do about it. Just have to wait until I get a decent job and start paying it off. I have just over a £1k unsecured debt (Cancun and Dubai holidays) which I did aim to clear by November. I'll see if I can stretch it out a bit longer on another balance transfer.

I don't think that's too bad going all things considered. On MoneySavingExpert you hear people that have £50k+ unsecured debt (excluding mortgages). Quite frightening in some cases.


some of the stories on MSE (http://forums.moneysavingexpert.com/forumdisplay.html?f=76) are indeed scary, but most of these are people who are terrified of red letters and the intimidation (sp.?) used by companies.

I think my own debt is about £5k, hubby's is presently about £9k I think - both on debt management plans (you do a statement of affairs - what you spend each month, on bills, down to shopping - then work out what's left over to pay off your creditors) with CCCS (http://www.cccs.co.uk/). :tu:

[Welshchris]

im lucky to be in circumstances where i have no debt what so ever......... my credit card is paid off fully every month before due date so i have no interest but i used to have over 3k worth of debt so i know what its like to worry.

[papa smurf]

zero-- and a healthy wedge in the bank .

[superbiatch]

I came out of a marriage with a loan for over 15k which I am still paying off. Then i bought my own place and a new car - i've probably got debts as big as some older peoples' mortgages. But i don't stress too much, i've never defaulted and I manage to pay everything each month although it does leave me short.

Its what you've got to do if you're single and you need to get on though, time isn't on my side to be waiting for a knight in shining armour to take me away from it all - so i do it on my own ;)

[xocemp]

I came out of a marriage with a loan for over 15k which I am still paying off. Then i bought my own place and a new car - i've probably got debts as big as some older peoples' mortgages. But i don't stress too much, i've never defaulted and I manage to pay everything each month although it does leave me short.

Its what you've got to do if you're single and you need to get on though, time isn't on my side to be waiting for a knight in shining armour to take me away from it all - so i do it on my own ;)

A sister doing it for herself, respect!

I have no debts nor have I ever had a debt.

[budwieser]

some of the stories on MSE (http://forums.moneysavingexpert.com/forumdisplay.html?f=76) are indeed scary, but most of these are people who are terrified of red letters and the intimidation (sp.?) used by companies.

I think my own debt is about £5k, hubby's is presently about £9k I think - both on debt management plans (you do a statement of affairs - what you spend each month, on bills, down to shopping - then work out what's left over to pay off your creditors) with CCCS (http://www.cccs.co.uk/). :tu:


We went with cccs when we got into a sticky patch and i`d thoroughly recommend them to any one in trouble.:tu:

[Halcyon]

time isn't on my side to be waiting for a knight in shining armour to take me away from it all - so i do it on my own ;)

You are by far not past it at all.


I think most people have loans these days or credit cards.
It's hard to survive without them.
I do try however to pay back as much as I can and also avoid bank charges as much as possible.

[Druchii]

Currently have no debts at all.
For a short period i had just under £1,000 but i soon paid that off. (Deposit money i was short on)

Now, every month my outgoings don't exceed my income so i think i'm onto to something.
I did have £3,000 saved at one point, but i moved countries and my family emptied my account... I'd rather not speak of that.

Currently have £2.5k stuck in my account as a deposit on this place, which i get back with interest in a few months, and around £400 to live with til the 12th. Of course, i also have access to the GF's account, as i buy everything out of my own. That has a fair wedge in it now (she saves up while we spend my money... She doesn't have a debit card yet due to Norwegian law).

All in all, i do have money worries when powerbills and moving house comes up, but hey, i'm sure others do too!

EDIT: Also, i DETEST loans and credit cards. I will never use one as long as i can avoid it, even if it means eating noodles for a few weeks (which i had to do to begin with in Norway)

[Paul]

Excluding my mortgage, none as such - I pay off my cards each month.

[joglynne]

Thankfully never been in debt and don't owe anyone anything. I do use a credit card for the legal cover it can provide but always clear the account each month.

[AntiSilence]

I got into debt when I was made redundant. All loans and credit cards mind, no main bills as I made sure I kept them paid as they're more important. I'm working to pay them off but it'll be a long time. No matter, it's only money lol

[Sirius]

I have lots and its increasing each day thanks to the dept this Government is running up for us all. :mad:

[Hugh]

Pay off credit cards each month - if we can't afford it, we don't buy it.

Only loan we've ever had was the two-year interest free loan on dining-room table and chairs (so we earned interest on the money we would have paid out up front).

[dilli-theclaw]

I was in avout £5,000 when my eyes went bad. Trying to pay it all off, but it's hard going when I don't work :(

Still, I'll get there eventually.

[lucy7]

I am on the thought path of, if I don't have the brass to buy it, I don't buy it.

When I was younger the feeling of working hard and being able to purchase something after saving for it was fantastic.

The day I payed my last mortgage payment was a good day!

I have tried to install to my kids the importance about not being in debt, and live within your means.
Has not worked with the eldest, she has 3 grand on her credit card, as her love of travel got the better of her last year.

[mentalis]

I also believe that you should save to buy something (although I do have a credit card for emergencies). Apart from a mortgage and car loan I have no debt.

Also, after saving, it can sometimes be hard to hand over the cash, making you wonder if you really need what you are after.

[tweetypie/8]

It's one of those things that is rarely talked about openly amongst friends or colleagues or 'down the local'. Of course it's generally regarded as a private thing. I think there is also a belief that people feel like their debt is of a greater level than their associates and therefore would be more shameful to mention. In reality probably most of their associates have a similar amount of debt or more - so is there a missed opportunity to discuss and share tips etc?

I think it would be interesting to see anonymously on this forum how much everyone owes. It would be also interesting to see comments on your feelings about your debt.

Do you feel debt is fine or is all debt "wrong" in principle?

Are you satisfied that the debt risks you are taking is an acceptable one and under control?

How many times have you remortgaged? Should you ever have to do this more than once?

Has debt ruined you in the past or even at this moment. How do you feel about it and the potential to get more debt?

Please exclude mortgages from your measure of debt

I'm assuming most will not want to disclose the amount in the comments so I've put anonymous ranges as a poll but if you do feel brave then please post..


zilth tg if i cant afford it i dont get it.