How much debt you in ?

[Les Biehn]

10k student loan
3.5k parents
0.6k store cards
1.5k credit card
2k overdraft

So just under 18k. Nice

 

[sully]

I had an interest free loan for my car that has about £7k still to pay, plus I'm half way through paying a loan that cleared my credit card that will take about another £4.5k to clear. Since taking it out, the credit card is back up to £3k, but still on an interest free deal.

Could be worse, and it's all well catered for in my budget, so not something that concerns me greatly, mainly as I'm not actually paying much interest on the debt.

 

[view]

£1000 + 2 years student loan if you can call that a debt!

 

[Albion Dan]

£4.5 k credit card and thats it.

The missus has a loan for about £5k which I have now inherited thanks to her having my son.

Cant grumble though because shes let me in on her mortgage for the house with £50k equity.

I have £10k savings in an ISA though so I should probably pay off the card once and for all.

 

[readingstockport]

What he said.

What he said. Never been more than 4000 in debt in my life outside of mortgage. And that was a bank loan to buy a Harley.

 

[Blackadder]

I used to collect on credit card debt. The MESS some people get themselves into.

So when a company "Sends the boys around!" that was you Easy! (*****insert Phil Mitchell Smilie here*****)

 

[Easy 10]

So when a company "Sends the boys around!" that was you Easy! (*****insert Phil Mitchell Smilie here*****)

Indeed it was.
I would turn up with my programme collection and threaten to BORE people to death.

 

[Da Man Clay]

You're talking about a pro-rata agreement between creditors, but creditors are under no LEGAL obligation to accept the offer at all. Generally they will accept a pro-rata arrangement because if it ends up going to court, its all worked out in much the same way anyway. But it's entirely at the creditors own descretion whether they accept proposals via a CAB or not.

I used to collect on credit card debt. The MESS some people get themselves into.

Indeed your right easy, havent worked in finance for a couple of years so had forgotten. I worked for a loan company and had to do a few "field calls" in my time, It was horrible going to peoples house who clearly had nothing and asking for a few hundred quid.

 

[Napper]

£4.5 k credit card and thats it.

The missus has a loan for about £5k which I have now inherited thanks to her having my son.

Cant grumble though because shes let me in on her mortgage for the house with £50k equity.

I have £10k savings in an ISA though so I should probably pay off the card once and for all.

sensible head says one thing , heart says another . . . .that 10k could be bloody fun


been there mate

 

[eastlondonseagull]

house is seperate in this , I mean cards , loans etc

I'm a home owner but am 14k in debt, soon to be cleared

£21,000 + mortgage of £117,000

 

[eastlondonseagull]

Shit, add another £1K for credit card

 

[METALMICKY]

You're talking about a pro-rata agreement between creditors, but creditors are under no LEGAL obligation to accept the offer at all. Generally they will accept a pro-rata arrangement because if it ends up going to court, its all worked out in much the same way anyway. But it's entirely at the creditors own descretion whether they accept proposals via a CAB or not.

That's correct Easy. The previous posters have ignored the fact that people provide bull shit figures for CAB on the basis that they hope the creditor will accept tuppence a month for a £500 bill!

I currently work in Debt Recovery relating to incorrect claims for for free NHS dental treatment and penalty charges. On many occasions we tell CAB to get lost and take it to a civil court hearing. At that stage we usually get a more sensible offer. the threat of court also works wonders for getting sensible offers particularly as the debtor may have to pay our court costs and expenses.

Sending baliffs round is a rare last resort but some people do try and take the piss even after a court decision.

 

[tedebear]

debt? I don't have debt - its negative equity!!

 

[zefarelly]

debt? I don't have debt - its negative equity!!

so we're definitely sub zero in a -£10k stylee

oh well

 

[tedebear]

so we're definitely sub zero in a -£10k stylee

oh well

In the freezer man

 

[sparkie]

Too much

Credit card 1 - 7k
Credit card 2 - 10k
Credit card 3 - 3K
Credit card 4 - 6k
Credit card 5 - 5k
loan 1 - 3k
loan 2 - 10k
loan 3 - 15k

= 59K

But ... all ok, as the house is worth 350K, and outstanding mortgage is 160K

Remorgage going though, on a better rate, which clears all the debts

 

[zefarelly]

Too much

Credit card 1 - 7k
Credit card 2 - 10k
Credit card 3 - 3K
Credit card 4 - 6k
Credit card 5 - 5k
loan 1 - 3k
loan 2 - 10k
loan 3 - 15k

= 59K

But ... all ok, as the house is worth 350K, and outstanding mortgage is 160K

Remorgage going though, on a better rate, which clears all the debts

I feel much better after reading that, thanks I think we're 330 - 115 in total.

lets SHOP!

 

[readingstockport]

None. 38 and never been in debt, or had a credit card.

Interest is for muppets.

And people like this:
http://archive.theargus.co.uk/2006/6/1/211322.html

Or this silly sodding cow.

http://news.bbc.co.uk/1/hi/business/4997170.stm

Why should this morons creditors have to accept her paying them nothing so she and her husband can have buy to let propertys and another child. You have no money you silly cow, don't have another child.

 

[Gully]

Nothing apart from two mortgages. Have had a car loan twice in the past but would never do that again as it is pointless, never had a credit card or store card either. I work on the assumption that it is stupid to get a loan on something that will depreciate in value whilst you are paying for it, at least with a mortgage you should get your money back...eventually!

 

[adrian29uk]

I am not going to be a smart alec and say I owe nothing and that the people in debt are stupid. What is wrong is the way these companies off money left right and centre.

When I go shopping these days I now ask myself if I really really need it. I was on the verge on spending £1400 on an Apple Mac, I am glad I didnt now. I found my replacment by installing Linux. I then went through a phase of wanting a new laptop and then an XBox 360 but I have both shelved these plans as again I dont really need any of these.

People want the latest greatest stuff. I am in the opinion of if the current technology does the job for you why change. Or change 3 years later when this stuff is 1/4 of the price.