In debt, but by how much?

Just took out a £6500 loan today, gotta get myself a car for the long motorway journeys I occassionally do, a 1.1 Punto won't cut the mustard :D
 
Just over £9,000 of student loan, thats it except for day-to-day stuff on my credit card, food, fuel etc. which is paid in full every month. I'm just about covering the generated interest on my loan (~£20/month) with my automatic repayments out of my salary.

I'm not sure if student loans are counted in the official figures on debt, but it's pretty misleading saying someone has £20k debt if 3/4 of that is student loan - its not the same thing.

The only debt I plan to take on in the future would be a mortgage.
 
I owe 4k on my car finance, but I'm selling the car at the mo, so the sale should cover that.

Just got a 5.5k loan to pay off my existing loan of 4k (as Cahoot banged the interest rate up to about 18% 2 months after I took out the loan :/) and to pay off a credit card of £700 which is currently with Mint on interest free.

I use my overdraft every month (£600) but only because the payments come out before my wage goes in. A few months ago I was constantly in my overdraft and thankfully I am not in that position any more. I use my credit card for internet purchases so sometimes that has a £200 ish balance, which will be paid off the next time I log on to internet banking.

I actually own three credit cards, as I transferred to Egg when they did their 0% interest, and then to Mint when they did theirs. I have between £4k and £6.5k limits on each card - good job I have good self control as I really could go mad!

Soon to be having a mortgage too :/
 
far to much for me to admit to on here :o :(

yes i was ******* stupid for a long time, spending WAYYYYY more than i was earning.
the nice pay rise and promotion i had last week will help :)
it is kindof in the process of being sorted. luckily my brilliant girlfriend is sticking by me and being there for me when i need a hug. and neither of us mind having a "quiet" night in ;)
 
I refuse to count student loan as its basically free money and gets paid back at 10p a year, so none.

Well actually, £1k on a card but only becuase it's there as it's 0% - not sure whether it counts as debt becuase I could afford to clear it right now if I chose to do so.
 
£16000 on a personal loan (about to be paid off with proceeds of sale of house)
£5000 on season ticket loan from work (£500 deduction each months interest free)

That's it. (That's enough!)
 
Just my student loan now (in full not paid any off - yet). Happily paid off all credit cards this morning after a rampant saving adventure. However, I am very quickly going to be overdrawn again due to Christmas.... unless my dearest and nearest will accept tinned goods as presents.
 
About 18k left.

Paying it off under a debt management plan

It's my chance to mention the consumer credit councilling service.

If anyone is reading this thread and is worrying, www.cccs.co.uk

give them a call seriously, and stay away from IVAs you keep hearing about!
 
2k as a combination of credit card and student loan (only about £200 on the student loan but I can't be bothered overpaying to clear it).

I have about 3k in savings plus numerous share plans and bank shares through work, but I'd prefer to keep them separate from my main liability, my car.

I'd prefer to keep my savings for rainy day money, in the event of needing money for a major house repair I don't have enough equity in it to release any to cover it.
 
i ran into debt, for me,when my parents left the country and had a pretty girl i tried to keep happy, almost clear now, but it takes time and you have to say do i really need that? everytime some new toy comes out on the market!
 
TripleT said:
Agreed. Doesn't make any sence (unless it's interest free).

An ex had thousands in the bank (inheritence, £15000 or so) yet she still got a £7000 loan for fher car as she didn't want to use the money!! :confused:
Click to expand...

Depends, borrowing the money and paying it back can certainly make sense, either because you'll earn more in interest than you'll pay, or because you're not confidant you would put the money back into savings if you remove it.

I don't understand some people's obsession with not believing credit is a simple service like any other, with pros and cons to it's usage.
 
Student Loan - £12,000
Credit Cards - £900

Balance in my accounts/saveings works out to be about even (due to being in my overdraft)

So about £12,900 at the moment.
 
Large Mortgage, and approx about £16k worth of unsecured personal finance.

I have never in my life missed a payment or made a late payment.

I have 0% credit cards, with a balance on.

Fact is though, If my mortgage was less than the £1100 or so I'm paying I'd be pretty much debt free now.
 
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