How much debt do you have?

BarBrawllin said:
my mother owed over 20 grand and my father owed over 50 grand and none of them paid back a penny to the bank after contacting a friend who's a lawyer.as far as i know the debt was sold onto a collections agency who kept calling untill the lawyer got involved that was about 7 years ago maybe things changed but from that experience i dont see how anyone can be in debt to a bank? they still have credit cards and overdrafts right now now ,dont have as high a spending limit obviously but hasnt seemed to have effected them at all so im wondering why would anyone pay it back or worry about it?would it only effect you if you actualy had money and were planning to take something like a mortgage out later or pay something big off in installments like a car?
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It does have an impact on your life. MY brother moved to Liverpool with his then GF and ended up splitting up. He had to leave the job he had there and move back home and ultimately ended up in debt which he couldn't pay back.

He ended up going bankrupt but it meant he can't get the same job he was doing before as it has a credit check! I think he's ok after this year but it's not something I would ever think about doing.



I got my loan simply because if I was to pay my car insurance monthly it would have cost me £232 ontop of the £931 to go monthly. I only pay around £2250 back on a £2000 loan so it worked out best for me to just add the car onto it aswell rather than saving up the £200-250 a month to get the car.

Once I pay this in december I'll apply for a 0% CC and put the insurance on that, should be around £650, and I'll pay that off within 6 months.
 
Freefaller said:
Down to under 2k, and student loan is now paid off! :cool: :D
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Huh. I thought you were 'old' enough that you would have paid off your student loan years ago...

That's depressing...

As for the OPs question. Zilch.

I owe some money to SLC, but I have the money that I owe, I'm just getting a better interest rate this way... It's a loan at a relatively low rate, I might as well keep it for now. I'll pay it off when I feel like it.

kd
 
Jonny ///M said:
He ended up going bankrupt but it meant he can't get the same job he was doing before as it has a credit check! I think he's ok after this year but it's not something I would ever think about doing.
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As far as im aware its only my dad who's bankrupt(i'll ask my mum if she is later),i thought after like 5 years all it really meant was that you cant own a company? I knew it would have some negative impact i was just wondering what that would be. Since my parents are skint,disabled and cant work or buy a house anyway i dont think its done as much damage as it would have had they been young working and trying to get on the property ladder or get a job in some financial department or something.
 
BarBrawllin said:
As far as im aware its only my dad who's bankrupt(i'll ask my mum if she is later),i thought after like 5 years all it really meant was that you cant own a company? I knew it would have some negative impact i was just wondering what that would be. Since my parents are skint,disabled and cant work or buy a house anyway i dont think its done as much damage as it would have had they been young working and trying to get on the property ladder or get a job in some financial department or something.
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My brother was only selling insurance on the phone but it still requires a credit check. Staying where we stay a lot of jobs are on the phone and money based!

We have HSBC/First direct call centre just behind us and plenty of other ones in the city centre too.
 
Jonny ///M said:
My brother was only selling insurance on the phone but it still requires a credit check. Staying where we stay a lot of jobs are on the phone and money based!

We have HSBC/First direct call centre just behind us and plenty of other ones in the city centre too.
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yeah i live in glasgow,used to work in a call centre and my cousin and her BF own one ;)
 
Jonny ///M said:
One does not simply own a call centre... :o
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Tell that to my cousin and her BF:eek: They do technical/customer support for various companies and they use it for the companies they own personaly too and the products they sell through them and have deals with various marketing agencies who sell stuff online,they are pretty well off:)Lucky to have em as family they've helped us out a lot and she's paying my driving lessons and giving me a car its based in port dundas if your wondering;)
 
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BarBrawllin said:
Tell that to my cousin and her BF:rolleyes: They do technical/customer support for various companies and they use it for the companies they own personaly too and the products they sell through them and have deals with various marketing agencies who sell stuff online,they are pretty well off:)Lucky to have em as family they've helped us out a lot and she's paying my driving lessons and giving me a car its based in port dundas if your wondering;)
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I wasn't having a dig or anything bud just thought of the mordor meme thing.

I'm all for people making the money :)
 
Jonny ///M said:
I wasn't having a dig or anything bud just thought of the mordor meme thing.

I'm all for people making the money :)
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I never thought you were cause u done that little face thing after it,gonna have to stop using that rolls eyes as much lol.I've never heard of that meme before i'll need to look it up:D

***Ok i looked it up got as far as lord of the rings and stopped reading it LOL. Now i know.
 
BarBrawllin said:
I never thought you were cause u done that little face thing after it,gonna have to stop using that rolls eyes as much lol.I've never heard of that meme before i'll need to look it up:D

***Ok i looked it up got as far as lord of the rings and stopped reading it LOL. Now i know.
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One%2BDoes%2BNot%2BSimply%2B-%2BTank%2BCat%2BInto%2BMordor.jpg
 
King Damager said:
Huh. I thought you were 'old' enough that you would have paid off your student loan years ago...

That's depressing...

As for the OPs question. Zilch.

I owe some money to SLC, but I have the money that I owe, I'm just getting a better interest rate this way... It's a loan at a relatively low rate, I might as well keep it for now. I'll pay it off when I feel like it.

kd
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How old do you think I am?! :confused: :( :p

I didn't start paying it back till over a year in employment as they cocked it up so that's possibly why. Also, I was under paying for ages too for some reason (though it was nice to have more money! :p). I also took out the full loan amount for my years at uni as I was independent of my parents - i.e. they were not supporting me (uni was for me, it was up to me to fund it) so nearly 14k worth of loan taken out.. which is a fair bit. Even if you're paying over 200 a month for it, takes time.

However as stated it's now done! :D
 
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Freefaller said:
How old do you think I am?! :confused: :( :p

I didn't start paying it back till over a year in employment as they cocked it up so that's possibly why. Also, I was under paying for ages too for some reason (though it was nice to have more money! :p). I also took out the full loan amount for my years at uni as I was independent of my parents - i.e. they were not supporting me (uni was for me, it was up to me to fund it) so nearly 14k worth of loan taken out.. which is a fair bit. Even if you're paying over 200 a month for it, takes time.

However as stated it's now done! :D
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40? :p
 
None. :)

I have about £11k of student loan 'investment' and no mortgage. Although my girlfriend has a mortgage on the flat we live in so I'm contributing to that, but I count it as rent.
 
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