just been reading the bankrupcy post.
shocked that people build such debts up.
is their many people on here without any or with very little debt?
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Debt.........or the lack of.
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Posted 1 year ago #
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i have got no debt apart from a small matter called the mortgage. so no.
Posted 1 year ago # -
no debt here... also though.. no credit rating which can prove to be a bit of a sod sometimes.. like the other day when I tried to get a bank account with an overdraft facility.. or the time I tried to get a mobile phone contract..
Posted 1 year ago # -
None here, other than that mortgage thing. And my student loan (which is cheaper to ignore than pay off in full currently)
Posted 1 year ago # -
I have an inbuilt aversion to any large debt, to the extent that it makes me anxious...
So no credit card, small mortgage, bikes bought on interest free credit with the knowledge that I could buy them outright if needed.
Posted 1 year ago # -
no debts except a v small mortgage (c. 30% LTV) compared to our assets now.
I got debt free (excl. mortgage) aged 27ish and it was bliss. Student loans, a graduate loan, an overdraft and a small credit card debt were uncomfortable (mainly because I never missed a payment). I think at their worst about £14k, but par for the course for a 1997 graduate I guess.
Posted 1 year ago # -
I find the amount of debt some folk intentionally rack up frightening, I couldn't sleep at night! I'm old tho'.
Posted 1 year ago # -
none here and a reasonable sum in savings.
that thread gave me the fear, thing is we all pay for their stupidity and need for instant gratification through consuming.i did get interest free credit on my iphone (6 monthly payments of £70)
i manage to sleep at night
Posted 1 year ago # -
Had a good but of debt for years, cleared it all for a couple of years other than the mortgage but needed to take a loan out last year and some on a CC. It took along time to sort things out and was helped by a once off windfall. The debt I have I can live with but rather I hadn't needed to take the loan out.
Posted 1 year ago # -
No debt whatsoever thankfully. Means I am not a burden on society in my unemployment. If I had borrowed like mad in better times, i could be getting my offset mortgage interest paid by you. What a mug I am for not doing that! I prefer to not have debt though, makes life simple.
Posted 1 year ago # -
without being rude............i think the older people seem to save up for stuff they want rather that using credit.
me and the mrs have 3 years left on a mortgage and that is all.
i would not sleep if i have a load of debt hanging over me.Posted 1 year ago # -
just a mortgage , small one at that
Posted 1 year ago # -
Mortgage (offset) and have overpaid a chunk of it so have a bit spare on that.
CC's - two totalling about £6K, but both are on 0% deals so cheaper than having that on the mortgage and paying interest on it. The amount spare on the mortgage exceeds the CC debt so I could pay that off any time, but at 0% why would I?
And then a couple of daily use CC's, for the convenience / purchase protection aspect, they all get paid off end of the month.
Debt in itself isn't bad. Unmanaged / unmanageable debt is a different matter.
Posted 1 year ago # -
small mortgage, that's it. No loans or Card debt. Don't have much in the way of savings tho.
Posted 1 year ago # -
Aaaahhhhhh..... Sanctimony.
Posted 1 year ago # -
surfer................sense
Posted 1 year ago # -
£38k mortgage
£1k on 0% credit card
so no big debts in the grand scale of thingsPosted 1 year ago # -
Might have about £50 on the credit card at this moment, but no other debts, no mortgage, just a surplus of sanctimony
Posted 1 year ago # -
I used to have no debt and indeed no credit history, which made it nigh-on impossible to get a credit card/finance/loan/etc. as the sharks had nothing to base a credit score on.
Thankfully, I'm now up to my back teeth in it
Posted 1 year ago # -
Not for much longer, morgage is paid in two years and when I asked about another fixed rate deal they just laughed, don't think they were desperate for my business.
Going to take my pension early at 52, pay the house off and go do a degree, just didn't think of that sort of thing when I was a youngster, it was for the wealthy which we were definitely not
So will have a student loan, great if I ever get a part time job that pays enough to give some back, but if not its written off at 65 so not too worried about that debt
Posted 1 year ago # -
no mortgage, no loans but we have let the credit cards build up a little bit. We're down to one card now, not a huge amount on that.
Posted 1 year ago # -
Debt in itself isn't bad. Unmanaged / unmanageable debt is a different matter.
the world runs on debt so why shouldn't we? I have a small amount of unsecured debt, about a month's salary worth, but I don't lose any sleep over it as it's managable.
Posted 1 year ago # -
Ton ... you've got kids I seem to recall ... are any of them going on to tertiary education. If so that is kind of a debt ridalled business now and it conditions people into having significant debt - I left University after 4 years with a shade under 20K debt.
When you start "life" with that sort of debt it becomes quite normal to live with it for a while if you'rw not careful.
I was one of the first of the non grant University leavers so everything was borrowed and at the time perceptions fio the student loan system were a little hazy !Posted 1 year ago # -
Just the mortgage now. Credit card automatically pays the balance each month. I was rubbish with money in my early twenties though.
Posted 1 year ago # -
In it up to my ears
Posted 1 year ago # -
Duc.......i do have kids mate.
one is 19 and works with me, other is 13 and still at school.i was not having a go mate, just interested.
Posted 1 year ago # -
No debt, no mortgage, credit card paid in full by DD every month.
In terms of disposable income, as opposed to gross income, I reckon I'm better off than almost anyone I know.
Living in a shed, dressing like a tramp and having simpletastes does have some advantages.
Posted 1 year ago # -
Student Loan.
CC paid of monthly. No overdraft. No loans. Not yet exposed to the joys of a Mortgage.
surfer................sense
No, see what theotherjonv did? He's using debt (on 0% credit cards) to actually save money elsewhere. i.e. make money.
Posted 1 year ago # -
apart from a modest car loan, nothing.
Posted 1 year ago # -
You may be misquoting me Jon
Posted 1 year ago # -
credit card paid in full by DD every month.
That's why I'm in the shit then - I'm paying your bills
Posted 1 year ago # -
is it a good thing that credit is now being refused and harder to get?
people seem to be saving money and not a quick to spend it.
Posted 1 year ago # -
deadlydarcy, credit cards are one of the highest interest rates around.
Barring loan sharks, it's worth borrowing money just about anywhere to pay it off and start again, assuming you can stay on top of it in the future and not slip further back.Posted 1 year ago # -
No debt except mortgage - hate using the credit card - is stupid to spend money you don't have.
Three years ago I got declined for a contract mobile phone, despite having (at the time - since been all spent on a house!) a lot in savings, simply as I had no credit history - had only used a credit card a couple of times, only used my debit card. From their perspective I would have been better off with bad credit history than none at all.
Posted 1 year ago # -
Yes it is but for what its worth I think things like EMA don't actually help
Did you hear the news reports when the cut in EMA was announced - a load of teenagers saying that it would ahve been impossible for them to get a part time job as well as go to colledge - come on.
Part of my problem was that money was too easy to come by so I didn't appreciate the value of it. It was very easy at University in the first couple of years to get money via several overdrafts and the student loans company because it was virtually being thrown at me by them. It did eventually click that this wasn't an entirely healthy position to be in but when your 18/19 and someone says yes we'll give you a bank account and here's an overdraft of 1200 notes as well you'd take it as that a set of Rock Shocks Judy DH's to hang on the front of the bike. (in fact I only sold them a few motnhs back on ebay). WHen you have several people doing that then it becomes even more difficult to resist.
The same thing happened when I left Uni - the day I got confirmation of my first job I rang up the bank and the credit card company to inform them of my change in circumstances and my overdraft facility doubled and so did my credit limit (with different terms in the small print)The sooner that stops the better in my opinion
Posted 1 year ago #
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