How much personal debt do you have?

[Lander]

About £150 to my mum!

Pay day tomorrow though

 

[The Clown of Pevensey Bay]

we've gone for the clever interest only mortgage option where you never have to pay back the capital...

Er, you do have to pay back the capital. At the end of the loan term!

 

[Albion Dan]

Half a £200k Mortgage and £3k on a credit card, although I have plenty in the bank for a rainy day.

 

[Moshe Gariani]

Er, you do have to pay back the capital. At the end of the loan term!

eh? they never told us that...

 

[Man of Harveys]

Half a £200k Mortgage and £3k on a credit card, although I have plenty in the bank for a rainy day.

It's none of my business obviously but this is a nosey thread: why not pay off the credit card with the bank money?

 

[Kylies Stunt Arse]

Way too much.

 

[Rangdo]

It's none of my business obviously but this is a nosey thread: why not pay off the credit card with the bank money?

It might b on an 0% card and if not it should be

 

[Gully]

None of my business either MoH, but the credit card may well be interest free, whilst the money in the bank actually accrues some, if that is the case then it would be pointless paying it off until it needed to be.

 

[Man of Harveys]

Ah, of course - I just associate credit cards with rip-off interest rates.

 

[Rangdo]

Ah, of course - I just associate credit cards with rip-off interest rates.

They're really good if you're clever about it. My dad needed 13k to carry out some renovations so I found him a load of interest free purchase offers and he paid for it all on them. Then when it came to the end of the period he just transeferred the remaining balance to 0% balance transfer cards. The most you pay is the equivalent of 2% interest as the fee to transfer the balance.

 

[Gully]

Personally I have never bothered with credit cards, either with or without interest, any free pennies sit in a building society account as they do earn a little interest there, they are thus available for use as and when needed.

 

[Goring Gull]

No unsecured debt like loans or credit cards - 34k on a mortgage up north and about £30k left on a flat we have being rented out in Lewes. Possibly about to pick up another property on the outskirt of Wakefield.

 

[John Dorian]

Around about 750 quid in overdraft, and no mortgage yet but Im a student and in my second year. I wont think of that as debt til im out of uni.

 

[Rangdo]

Personally I have never bothered with credit cards, either with or without interest, any free pennies sit in a building society account as they do earn a little interest there, they are thus available for use as and when needed.

I've got a credit card that I use regularly. I've had it for 6 years and I've never paid a penny in interest. They must love customers like me

 

[Beach Hut]

About £1K on interest free credit card and £70k odd mortgage with 12 years left.

 

[Rambo]

Nothing other than the f*** off big mortgage.

 

[DIFFBROOK]

Now a middle aged bloke with a 39k mortgage and no unsecured loans, but in my youth I ran up over 9 months

£1400 car loan

£500 overdraft with Lloyds (who eventually stopped my cheque card)

£1000 on credit card, which I couldn't afford to pay off (so blacklisted)

£2000 HFC loan to be used to pay off the car loan and credit card. I didn't, but boozed it away

£1,800 salary advance for a rail ticket to London. Never purchased, but boozed away.

The car I bought with my car loan, was eventually sold for £600 and I boozed that away.

1988 was a great year. 1989-1990 wasn't so when the gravy train stopped.

I was a living lesson on debt mismanagement and all the sleepless nights worrying about it. Never again.

 

[Albion Dan]

It's none of my business obviously but this is a nosey thread: why not pay off the credit card with the bank money?

I always have it on a 0% interest card and I like to have cash available just in case I need it. Ive earmarked some of it for a new conservatory as the one at the house weve we moved into is horrible, and just in case I get made redundant I like to have about 4-5 months worth of salary just in case.

 

[Publius Ovidius]

mortgage ( nearly gone - next year) and a car loan.

Apart from that not much more, thankfully.

 

[Normal Rob]

135k mortgage (half of)
2700 left to pay off on my car (HP)
about £85 overdrawn.

pay day tomorrow.