In debt, but by how much?

carpmaster

carpmaster

carpmaster

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I've been thinking about this for quite a while, and I think it would be interested if we could have a few honest postings of how much non-mortgage debt people are carrying around or were until recently. I read figures of £10,000 per person being the average but it would be nice to hear what's really going on and how you intend to deal with it.

I'll start off shall I?

I have a bank loan for £10,000 which has only got about 6 months left before it's paid off. This was mainly business related but it's still a debt in my name.

Two years ago I went over the £20,000 mark on credit cards, but through a lot of hard work and careful planning this is now down to around £7000 and is being paid off at 0% interest by card tarting.

So at the moment I have about £8500 worth of non-mortgage debt. It doesn't worry me because it's being paid off as planned (loan) and the C/C debt is costing me nothing in interest so there's no reason to pay anything other than the minimum.
 
I used to have pretty high debts, including two Credit cards and a personal loan totalling about £15k. Luckily I was in the position to clear all these and now have a CC balance of £1200 and a small overdraft (£150).
(I have a mortgage too, by the way).
 
Student loan £9660 as of August, have £3000 more planned for this year.

/edit - some of that in an ISA, for later/rain day.
 
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zero*, although i expect that to go up a bit over christmas for a few weeks.


*Well about £600 on cards, but i could pay it off now (I use credit cards for any online purchases).
 
Not a sausage, never have. :)

Well, I have about £150 on a credit card but I'll pay that off at the end of the month.
 
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I've got a student loan, only had about £1200 or so of it so far i think, but by the end of the year it will be £3700, meaning at the end of my course I will have £14,800 of debt :eek: Not to worried about that as it will be a minimal amount I have to pay back each month. Other than that, nothing.
 
i have about 8000-8600 student loan, i left uni before finishing to get a job in what i wanted to do but didn't tell the bank, so they think i'm still in uni, i have been working for two years and not had a penny taken out for paying it off!

my next job i'll start paying it off i think, i'm not really worried about it, its not like having 4 credit cards to pay off or anything like that
 
cheets64 said:
£4400 loan for my car
£1000 on my CC

Thats it, got £1200 in savings for a rainy day.
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Erm got an idea, unless Im mad; pay off the CC and use that as a "rainy day" dosh as the amount you pay in interest on the CC will be a lot more than you earn on the savings surely?
 
Only student loan, which at the moment is sitting in an ISA. Currently, I have borrowed approximately £6700, of an expected £12,000 come the end of my 4th year.
 
ste_bla said:
Erm got an idea, unless Im mad; pay off the CC and use that as a "rainy day" dosh as the amount you pay in interest on the CC will be a lot more than you earn on the savings surely?
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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:
 
No debt apart from my student loan, which at the moment is about £1500. I won't (and can't) pay it off for at least a few years so I'd class myself as debt free!
 
Probably about £20k left on car loan

Credit cards swing hugely between nowt and about £10k,often this is just a monthly "working balance" of £2-5k which is paid off at end of month but after a big holiday it rises for a while
 
Technically it's in the region of £35,000, possibly touching 40K actually. That's all unsecured personal loans and credit cards, a sizeable tax bill as well. Wreckless doesn't even come close.
 
Just under 12k for the student loan, then 7.5k for a career development loan which I'll have to start paying back next year.
Fun :/
 
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:
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Its interest free so its pointless paying it off, plus if anything happens and I need a quick £1k in cash I have it and its an insentive to not go stupid with my CC.
 
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