Truthfully - How much debt do you have?
- Thread starter Mr_T
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Soldato
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Truelies I have none my Student Loan is Paide off I don't have a credit card and I don't have an overdraft
Wow, never realized there was so much debt around.
I guess i'm lucky (or too young), not to have any.
Can I ask, apart from student loans, when you say '5000 on credit card #1', is this stuff you've bought that you actually need? i.e food, rent?
I guess i'm lucky (or too young), not to have any.
Can I ask, apart from student loans, when you say '5000 on credit card #1', is this stuff you've bought that you actually need? i.e food, rent?
You were at school once
By the quality of my posts you should know hardley.
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Soldato
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Interest from the cards must be waaaay higher than the interest from your savings surely? So you are actually losing money by keeping the savings
My proof is credit card companies would not offer 0% if what I just described did not become the outcome.
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im about, -£90...
for those counting on the student loan debt being wiped after 25 years - you still have to start paying it back before then! Unless of course you dont plan to earn more than £15K for 25 years 
those students who started their studies before 1998 are a tad luckier and dont have to start paying back until their earnings exceed £25K
those students who started their studies before 1998 are a tad luckier and dont have to start paying back until their earnings exceed £25K
that doesnt mean most people fall into it, yes it's where they make the money, same as they expect x amount of people to default on payments and again make money on it, doesnt mean most people will
Soldato
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You can't justify something as proof without facts.
Associate
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Surely manageable debt is debt that you can afford to pay back within the terms set out by the lender.
Yes i have a lot of debt, but neither me or my wife are frivolous spenders, our credit card debts are there because of things that we needed such as a new central heating system to replace an antiquated one and also a full electrical rewire after we discovered ours was unsafe.
I think a lot of people jump up on the moral high horse as soon as they see how much debt some people have and its very easy to shoot us down saying that we lend irresponsibly when that just is not the case.
My wife's and my parents are both very responsible with money and always tried to teach us that its better to have no debt etc, however in the real world i would say that in the majority of cases that just is not possible.
My wife and i try to save, but we also try to give our 2 young children an enjoyable carefree life too which i regard as being more important than any amount of money.
Some people in this thread really do need to take a reality check....not everyone with debt is the devil.
I agree 100%. Too many keyboard warriors on here "tbh"
Myself and my wife have a 72k mortgage, car payments of £160 a month (until December 09) and 1.5k on a credit card due to buying a new sofa.
In my opinion thats quite allot, but it's also perfectly managable for us and causes no problems at all.
Credit cards are viewed by some as pure evil, but ours has served us very well allowing us to increase what we have available to us should we need it.
That amount will be paid off in about 5 months, so we will incur some interest but hey ho, we couldn't have got the new sofa we needed otherwise and it's much better than store credit
That isn't proof, it is conjecture. Proof would be hard facts, you aren't giving any facts.
In the same way that phishing scams and those annoying 'call our hot girls, they're round the corner from you and gagging for it' adverts work, the majority don't need to fall into their trap for it to be profitable.