How much debt do you have?

I worked out my assets today and I have around 6k in assets.

But I owned an escort Rs turbo when I was 18 cost 7k to buy car and insure.

Had a 350bhp golf mk4
Had a 300bhp rover on 19s with air bags suspension
Countless holidays.
owned countless dvd's and blu rays.


Yea I regret all the above ^^
 
BringTheRain said:
I worked out my assets today and I have around 6k in assets.

But I owned an escort Rs turbo when I was 18 cost 7k to buy car and insure.

Had a 350bhp golf mk4
Had a 300bhp rover on 19s with air bags suspension
Countless holidays.
owned countless dvd's and blu rays.


Yea I regret all the above ^^
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The only debt we have is what's currently on the credit card so about £500. in 20 days time that'll get cleared off and we start our dance again.

We have 184k of mortgage though :)

I can kind of understand how people could get into so much non secured debt. But I cant get the why. Banks over the last few decades pretty much gave you whatever you wanted and it was judged (rightly in my view, but wrongly apparently) that the person talking the money knew if they could afford it or not. Getting money was easy.

Quite why anyone would get like that though escapes me.
 
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None. I have gone into the mode that the poster above has just mentioned and like seeing the savings pot mount up.

edit: now some posts above as people posted faster than I typed :D
 
Been with the missus nearly 3years. When we met I owed 38k. I almost went bankrupt last year. At the moment I have an excellent credit rating.

I have managed to resist buying most things. Unless I really see the point.
 
£270 credit card bill
£4300 loan repayment for car (was £6200)
Student Loan £3k meh (what loan)
 
About 6k which I'll pay off in the next 2 or 3 months, means by the end of this year I'll hope to have cleared the 20k of student debt I had when I started it.

KaHn
 
krooton said:
Credit card, another credit card, and 2 more after those, but rather than banking use of the 0% balance transfer, I would just rack up more when I cleared an old card. ****ed it all away on partying mostly, lol. Oh to be 22 again, not!
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Ahhhhh yes the credit card trap. Well will power trap I guess lol.

Done that many times.

I remember taking out a loan to clear 3 credit cards totalling £5k within a month I blew the 5k loan on a car and more rubbish.

I have learnt my lesson.

I have a lump some coming to me in nov this year. So I should be starting next year owing £15k :D
 
BringTheRain said:
Ahhhhh yes the credit card trap. Well will power trap I guess lol.

Done that many times.

I remember taking out a loan to clear 3 credit cards totalling £5k within a month I blew the 5k loan on a car and more rubbish.

I have learnt my lesson.

I have a lump some coming to me in nov this year. So I should be starting next year owing £15k :D
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What made you sort yourself out if you don't mind my asking?

To go from such an extreme to blow the loan you took out to clear your debt, to be paying it all off is quite a jump. Most people just spiral out of control.
 
I racked up quite a bit over the years in overdrafts, credit cards, bank loans and student loans (approx £18k) but my Olds very kindly let me move home for a year when I split with my ex so at the end of this month I'll have wiped out the lot and be back to £0.

I don't regret it (well, some of it was excessive to be honest) and I had some fun with it, grown up and slapped myself a bit of late though so I only spend what I can lay my hands on, not what I can borrow.
 
I have no debt at all. No unsecured or secured debt including mortgages or student loans.

I occasionally have a credit card debt, but that is always paid in full each month by DD.
 
Just over £20k, quite high I know, but still coping ok. Will get it paid off mostly over the coming year, should have around £6k left in about 12 months, which will be what's remaining on a loan. Then about another 12 months after that unless I increase my monthly repayments.
 
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