who has lived a life of debt...

Rizo-UK

Rizo-UK

Rizo-UK

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1 Jan 2010
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Cirencester, nr Swindon
Just a random thread really, but id like to share my joy :p

Im now 24 but whilst i was 18 i was an idiot with money, loans, CC etc and it all went pear shaped :( money repaid etc now but for the last 5 years i havent been able to get even a basic bank account or phone contract due to a REALLY sore credit rating.

I work full time, my employer pays me via cash (all tax and NI is paid) but it was getting a bit tedious using/storing 1K cash per month for the last couple of years.

Now i tried to open a natwest current account before christmas but they flat out refused. I only needed a basic account, no debit card, DD, OD, etc. wages in, cash out kinda thing.

Now i tried Barclays who i was with 5 years ago (debt wasnt with them) and they accepted me straight away with a current account with VISA debit but no OD or Chequebook which is fine as i dont need either.

5 years without a bank account is proper ****. cant do anything.

Now im back on the credit/money ladder and will NOT **** up this time.

All my debt is repaid (17k) and i hope to start saving around £600 a month ready for moving out later this year.

I moved out last year with my misses but she turned around and said she didnt love me anymore so i ended up moving back home with mummy and daddy :p so i have been clearing debts at a good rate.

So who else has been down this route?
 
Good work clearing £17k in that time period at a time of your life when spending money is easy!
 
Not really started life at 19, but I managed to rack up around £1500 in about 9 months of turning 18, all paid off and my finances much better planned with speadsheets etc.

A new job and planning means I can save £80 a week as well as running my first car etc.

Been with my Girlfriend just shy of two years and been living together for 9 months so we're hoping to get our own place in a year or so.
 
currently sitting at just over 7k, paying off as much as i possibly can each month and it's slowly whittling down. Nice on on getting out so quick.
 
Such a nice feeling when all the money you earn is for you and doesnt go straight back out to creditors :)

Must admit it was very depressing being in debt and being hassled all the time to repay.

Now its ALL MINE :D :D Not going to waste it tho.
 
Briefly when 18... Banks were crazy back then. I had £8k of available credit by 19 on CCs alone. Thankfully I copped on pritty quick but some of my friends have been crippled by debt for their whole adult lives
 
HSBC do a very basic bank account, last time I knew, they only require an ID check to open it (Passport and bill of some form with address on etc). Might be worth a shot?

I'm 28 and I've been in debt since I was 18. My total debt is now £3,000 but it was close to £30,000 at one point. This should be paid off this year hopefully. The next debt I will go into is a mortgage.
 
Was silly in my late teens and early twenties and ended up with £15k worth of debt. I've spent the last 6 and a half years paying it off. All my debts are totally and utterly gone in July of this year. I can't wait.

It meant moving back into my parents so I didn't get further into debt when I was out of work for 3 months back in 2009, but i've been able to get my loan and my credit card debts down to the point they are out now, my credit cards are paid off next month and as I said, my loan in July.

Watching that figure go down and down to the point where its now £1500 left on my loan has been fab the last year or so, and now its so close I am actually rather proud of myself. :)
 
That's nothing due to early young excess, an affair, a failed business venture I had debts of £40,000 on top of my mortgage.

In another 18 months I will be debt free! :D
 
MilanoChris said:
HSBC do a very basic bank account, last time I knew, they only require an ID check to open it (Passport and bill of some form with address on etc). Might be worth a shot?
Click to expand...

Rizo-UK said:
Now i tried Barclays who i was with 5 years ago (debt wasnt with them) and they accepted me straight away with a current account with VISA debit but no OD or Chequebook which is fine as i dont need either.
Click to expand...

Thanks for the thought Chris but hopefully Barclays will do me proud :D
 
my folks bought me a car for £5k when i was 24 and i paid them back within 18 months, no interest though. i also have a mortgage but i've never taken out a loan or missed a cc payment.
 
Early 20's and racked up over £30k. Nearing 30 years old and whilst some of it is still there it is all going in the right direction and 2 loans finish this year. Should be completely debt free in <3 years now and will then only have the mortgage left. Early mistakes are easy to make and difficult to fix but I am glad its now working and I am paying back every penny.

I know friends who did worse than I did too. So easy at a young age to get credit and spend forgetting you have to pay it back one day.
 
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