How much debt do you have?
- Thread starter BringTheRain
- Start date
Had just over 37k of debt... however 13k was owed to family with no interest acrrued.
I cleared all of this last week, which is a huge relief as you can imagine.... as we were paying at least 700 quid per month on debts!
The only mortgage we have is a buy to let.
I cleared all of this last week, which is a huge relief as you can imagine.... as we were paying at least 700 quid per month on debts!
The only mortgage we have is a buy to let.
£680 on a loan
£1,800 overdraft
Soon to be £10k on house sale
So Total: £12,500 ish
Once house goes i will be completely debt free in 12months. I hope to god my Dad has some money saved/invested ready for me when i'm 30.
Or like one of my mates keeps saying... i hope my Dad dies (Dad is in 50's) so he can get his house (£60k)
£1,800 overdraft
Soon to be £10k on house sale
So Total: £12,500 ish
Once house goes i will be completely debt free in 12months. I hope to god my Dad has some money saved/invested ready for me when i'm 30.
Or like one of my mates keeps saying... i hope my Dad dies (Dad is in 50's) so he can get his house (£60k)
I have a fair bit on student loan, but who cares about that, the interest rate is piddly and it just hits my payslip like a tax, so I barely notice it.
I have about £96k on my mortgage. We're making small overpayments on that, but they'll go up as our salaries do, so I expect we'll get that down in far less time than the actual term of the mortgage.
I have one credit card, sat at nil at the moment. It gets used when we need the protection, or for unexpected purchases. I also have a credit card from my employer that gets used for business expenses.
I have a £1,500 agreed overdraft with my bank, which barely ever gets touched, but which came in handy the other week when our washing machine broke at the end of the month in the same week that my credit card was compromised, and I needed to order a new washing machine before I could get the cash out of an ISA.
We use debt for convenience, rather than necessity or wanton desire, and our debts are always serviceable.
I have about £96k on my mortgage. We're making small overpayments on that, but they'll go up as our salaries do, so I expect we'll get that down in far less time than the actual term of the mortgage.
I have one credit card, sat at nil at the moment. It gets used when we need the protection, or for unexpected purchases. I also have a credit card from my employer that gets used for business expenses.
I have a £1,500 agreed overdraft with my bank, which barely ever gets touched, but which came in handy the other week when our washing machine broke at the end of the month in the same week that my credit card was compromised, and I needed to order a new washing machine before I could get the cash out of an ISA.
We use debt for convenience, rather than necessity or wanton desire, and our debts are always serviceable.
Soldato
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Only student loan, which is somewhere between £14-16,000. I've been quite lucky clearing debt.
It is true that manageability is more important, but that can be a grey area. Manageable per month, isn't necessarily the same as manageable if you lost your job for 6 months.
A lot less now than I did, however its still over £10k I think.
£5400 on one loan, £3000 on another, £2.4k on an interest free credit card. However both loans have just 18 months remaining on them, and the card will be cleared by the time the year is out.
It will be very good to get this monkey off my back. Its affordable, I still have £800 a month to spend over all the bills, mortage, loans, etc are paid off, but £600 a month on repayments is a lot of money.
£5400 on one loan, £3000 on another, £2.4k on an interest free credit card. However both loans have just 18 months remaining on them, and the card will be cleared by the time the year is out.
It will be very good to get this monkey off my back. Its affordable, I still have £800 a month to spend over all the bills, mortage, loans, etc are paid off, but £600 a month on repayments is a lot of money.
£1200 on a CC that gets paid each month (about £100 a month sometimes more)
No other debt.
Wife worked for the NHS on some crap wage (15k) but now we have a 15 week old and her wage will stop in a few months
Cant remember the last time it was only my wage coming in, she might not earn much but I assure you that extra grand a month from her wage goes into savings, no idea what I'm gonna do. Get a better job I guess.
No other debt.
Wife worked for the NHS on some crap wage (15k) but now we have a 15 week old and her wage will stop in a few months
Cant remember the last time it was only my wage coming in, she might not earn much but I assure you that extra grand a month from her wage goes into savings, no idea what I'm gonna do. Get a better job I guess.
£1200 on a CC that gets paid each month (about £100 a month sometimes more)
No other debt.
Wife worked for the NHS on some crap wage (15k) but now we have a 15 week old and her wage will stop in a few months
Cant remember the last time it was only my wage coming in, she might not earn much but I assure you that extra grand a month from her wage goes into savings, no idea what I'm gonna do. Get a better job I guess.
Claim tax credits?