Truthfully - How much debt do you have?

I didn't think I owed anyone anything (and never have done apart from when I had a mortgage), but apparently I owe the banking system about 20k (and counting) and must pay for it through higher taxes for the rest of my life.

Cheers Gordon. Still, at least now I know how younger people feel, saddled with huge debts from misguided adventures in education or Argos. :->

Andrew McP
 
mortgage £60'000
unsecured loans £50'000
secured loans £20'000
car £2000

total £132'000

i made a total **** up of our finances several years ago and it's going to be a problem for years.......

still i'm only 26 so it'll all be payed off before i die!
 
Boggles my mind at all these people with thousands in credit card debt ... what on earth were you thinking? How could you look at the interest rates and possibly think it's a good idea to run up thousands on them?

I've got a credit card, but use it only for when I need it to make purchases abroad. Even then It gets paid off in full every month.

Got about 6k in student loans myself, but its minimal interest and repayment terms are very friendly.
 
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Wow, £132k :o

Weird how a couple of people seem to think a mortgage isn't a debt? guess in that respect any other sort of secured finance isn't either? :p

I've got:
~£16k student loan (which I don't really count as a debt, as a mentioned it's 25 years max and if I lose my job I don't pay it)
~£1300 on a 0% credit card

Also got ~£5000 in savings (although moving at the end of the month so that'll go down a chunk), gonna use the credit card until the 0% period runs out, then pay it off and I might've even saved enough to still have some savings left afterwards :p
 
Not including a mortgage - £500 on a credit card. Which I could pay off right now, but then I'd be overdrawn for parts of the next few months and the interest rate is about the same. So I don't bother.

Mortage is about £34K, fixed at 5%. £220 a month.

All I need to do now is sell my useless endowment policy and switch to replayment, something I should have done years ago.

More importantly, I'm currently consistently spending less than I take home from work. So my financial situation is OK at the moment. I like that - I worked my way out of being so far in debt that I had to get the CAB to write letters to my creditors asking for arrangements to be made.
 
Student Loan: about £10,000.
Mortgage: £212,000.
=====
Total: £222,000

Thats it, During months I consistently have credit card debts but pay them off at the end of each month from my current account before they start charging interest.
 
Mortgage - 72,000
Secured Loan - 42,000
unsecured loan - 13,000
Credit Card and Finance debts - 18,000

Grand Total - 145,000

Its manageable but not the best situation to be in, my wife and i listened to an idiotic "Financial expert" who advised us to go for a secured loan etc, quite honestly it is the worst decision we have ever made.

That said our home is probably worth about 150,000 now (was valued at 172k about 4 months ago) so we have some security in there.
 
I just paid off around £12k on 0% cards about a week ago - felt good to get rid of those :cool:

I now do not have a single penny in debt anywhere (well, apart from cards which I pay monthly and haven't been paid yet)

A colleague of mine loves spending on cards, he was showing me statements and owes £60k on credit cards :eek:

None of that is on 0% deals, so the interest works out to a fair few quid each month, madness.
 
I got my student loan in 2008, and surely I still get it wiped in 25years?

I'll have about 18,000 when I finish this course. Sad thing is it's not even a propor Uni course.
 
No debt at all.

House is bought.
CC paid off each month
More money coming in than going out each week.

Then again, im not married and have no kids and live at home with parents as buying another home for me is too much at the mo. So im waiting.
 
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