Banks love people being in debt!

[AlexR]

Who owes what and in what way?(Cards/loans/car finance)

I forgot how easy it was to get credit, had a fair bit of debt but paid most of it off, had a few cards left that i'd been paying interest on so decided to get a new card with 0% on balance transfers, came up with a credit limit of over £5k :S

Deffo gonna just transfer all my dosh over and pay it off asap then maybe buy a few trick bits for the saxo.

Currently owe £1.5k on cards
No loans
£8k on car finance(paid £2k up front)
Owe a mate a bit for the saxo.

[Tupps]

No debt

[Raz]

i got a 3k loan that i pay every month off....got it from my dads bank (Barclays) dad got it out for me as it was better for him to have it than me, and i pay him back the day that it comes out of his bank.

Then i owe insurance etc....i pay about £400 out goings :)

[JimoVTR]

Dad (despise him, hate the bloke) - £700
Cards - £300
Loan - £2.8k

[AlexR]

No debt

You bought your scoob up front with no finance? Well done!
I could sell my saxo and have enough to pay most of my debts off but there'd be no fun in that.

[Clouds_mate]

Bank sent me a letter today saying they have put my overdraft upto 3k. Never in it though.

I pay out roughly £280 a month.

[sharpie]

credit cards are magic if you change them to keep getting the 0% deals. due to inertia - people tend to stick with one though.

i have £1400 0% student overdraft invested elsewhere. i'll pay it off as late as i can. leverage innit.

[Tupps]

Yes i paid cash for my scoob, i took pound notes and bought it private

I pay £80 a month to my mam for board thats my only outgoings

[JimoVTR]

I cant save - need some lessons! or need to start dealing the hard stuff tbh :P

[bexster82]

i owed over £20k last year - lol :)

[Vinny_VSX]

I have 8k finance. Which will be paid off before the end of the year, then the c2 will be all mine. YEY. Already saved up 1.5k to go towards paying off the car lol, woo

[Jackman]

I owe £500 on finace for a Laptop.

thinking of putting that on a 0% card to quit the intrest.

[saxochap]

ive got no debts, dont owe anybody anything.

[danzman1991]

No Debt as of yet =P

[MikeCracknell]

Banks LOVE people being in debt, but when they are in too much debt they lose out big time.

IVA's write off a lot of that debt, and the banks hate it!

[Tupps]

I've thought about getting the tele i want over a few month finance but that would go against my moto

"if you can't afford it, don't buy it"

I know it's different for car's etc but i'm fortunate and saved up enough to buy mine

[nazz1]

how quick can you get a credit card and start using it?

any reccommendations?

no debt but would like to have a bit more money to spend each month

[BenSilverSaxo]

Just my student loan, spent that on cars and insurance for them. But i have £1250 saved up for when i go to america next year.

[DarylVTR]

i HATE debt.

£7k loan
£800 on credit card :(
£350 over draft

Nothing to show for the loan either - sucks!!!

I would reccomend virgin credit card if you really need one. But id advice against any kind of debt if it can be helped as you just keep addding to it.

[maynard]

only owe £200 on a credit card
and just the usual outgoings per month, rent and phone etc.
even insurance was paid for in one last year. quite lucky really tbh.

[RootDogg]

Student loan -- that don't count tbh
Overdraft -- 900

[AlexR]

Yeah Mike i remember you talking to me about that ;)

I could easily be debt free but i'd rather have two great cars and be able to go out and have a laugh. No point in staying in for 6 months just to save up for a car when i can easily pay for it over two years and live a lavish lifestyle. Plan is to have saxo and cards paid off by end of summer then my only remaining debt is the car finance. I have an overdraft but i never use it as my income outweighs my outgoings.

Edit: I always pay insurance up front. Last time i've used a credit card in two years was to pay for ferry and accomodation for the nurburgring in october cos i NEEDED a break from england and didn't have the dosh at the time.

[mattg]

No debts, well apart from the morgage which i see as an investment if you know what i mean, still owe £34k or so but gotta it dirt cheap and should make a profit.

[bark]

Well here goes:

£130 Graduate Loan Per Month
£150 Board Per Month
£ 30 Random Direct Debits

In total about £320 out per month! :)

[hoggers]

this will make you all feel better :panic:...

student loan = £13,000
overdraft = £3,000
mum = £17,000 (deposit on my house)
dad = £6,000 (deposit on my house and cars)
mortgage = £129,000

single on £30,000 a year :fcuk:

[bexster82]

well im debt free now

£130 rent per month
£30 phone direct debit
£38 insurance direct debit

earn £1600 per month on basic hours

[Dez]

paying of my debt over two years £280 a month is my outgoing, credit cards are a no no for me now as i got addicted to paying it off then buying things again...

[Sophie123]

i only have my student loan.
i was after a loan for a new car but nobody would giv me 1 because i have no credit history at all, its worse than having a bad history! lol

[nazz1]

i only have my student loan.
i was after a loan for a new car but nobody would giv me 1 because i have no credit history at all, its worse than having a bad history! lol

it sure is

I tried the same thing

just because i only spend what i earn i get punished

[Lozza_vtr]

No debt for me, been down that road in the past. Just learn to live with what i have got.

[bexster82]

No debt for me, been down that road in the past. Just learn to live with what i have got.


here here Lozza :)

I have no cards / no overdraft / no loans / nothing

If i cant afford it - save up for it - appreciate it all more

[Sophie123]

it sure is

I tried the same thing

just because i only spend what i earn i get punished

the advise i was given from my bank, was to apply for a few store cards (easier to get than credit cards) buy some shoes, pay it off.
then get a few credit cards and do the same.
and also get an overdraft, take all my money out for a week or 2, then put it all back.

then re-apply for a loan.

i decided bank of mum and dad was far less hassle lol.

[AlexR]

Thing is though all my debt will be paid off in 2 years time, when i want to buy a house, i'll have an awesome credit record and no debt, sorted.
If you look at even people who earn 100k a year, they are in debt because nobody can save up for everything they want - ie a house, or a nice car etc. Or we'd all be living at home till we're 50 :S

[VTR-Chris]

was in 3 grand debt a few years ago

never again man!!

i buy everythin with me own money now, banks threw allsorts at me when i was 18 an i waxed the lot of it on shite!

[Danr]

Im in about £2.5k of debt i'd say but service it quite easily every month. I need to start saving though but struggle due to my basic wage. I'm seriously considering changing jobs!

[xxxvickxxx]

£500 on credit card (had managed to pay some of this off but had to buy new windscreen)
£1000 overdraft
3k loan on car paying it back over 3 years

then all other outgoings

[Yates]

fuck all debt

outgoings are

100 a month to mam for board, even though 3/4 im away

35 phone bill, never go over the limit, only have it just to keep in touch with people when im down in portsmouth and they are back up in darlo

[Mark51]

mortgage £115k, 1k on cards and thats it. will be adding another 8k to that list for new kitchen soon

[frankie]

debt free.

i wish i could save my money though.

[Barry123]

almost as bad as cracknell...

£22k - Student Load
£10k - Mummy and Daddy Sayer
£1k overdraft

£0k on credit card - thats the one thing I don't use in any great amount.

Really really, want to start giving some dosh back to the parents soon as they've been utterly fantastic supporting me through uni.

[Barry123]

shit. and I owe Ryan £100

haha

[kylie]

got a loan out for grand last year to buy car but next month is my last payment so only owe 101 quid on that.

[Andy72]

what amazes me is noone has mentioned a mortgage. reading through the amounts people are in debt and concerned kinda makes me want to grab you and shake you as to be honest, until you get a mortgage you have no real sense of big debt.

Mine was taken out 1.5 years ago, when i borrowed £165K to buy our house which was just under £200K. The amount i pay back? £948 a month. The total amount i pay back after 25 years is a shocking £300K approx. Thats debt... and up in newcastle we are far from the top end of house prices. But then again is now seen as 'acceptable' or 'ignored' debt.

dont forget you then need to pay for gas/electricty, council tax (which is £120 a month on its own!!!), car insurance for 2 cars, lease payment for the family car (a new zafira), life insurances etc and youve added another £700+ to the monthly bill.

Then throw in Petrol money (again for 2 cars), food for a family of 3 (even on a budget youre lucky to only spend £250).

dont get me wrong, i earn a decent wage to pay for it all and we do have a nice house and comfortable lifestyle and at the minute we have more coming in than going out but it all has a price

I dont envy people getting on the ladder now as in the early years it can be very very hard once you get a mortgage (and then throw in children etc.)

so the message is, enjoy your cash while you can as sooner or later, ie in the next 10 ro 15 years for most, you'll be spending more money than you can imagine lol

[Barry123]

I'll wait for the parents and granny to hand over the ownership of the houses and then I'll kick them out.

house + no mortgage = one clever adsayer :D

But in all seriousness. Once I'm in the real world I want a house asap. I can't do it alone even with some of the spectacular salaries (well in my opinion anyway) I've been offered... I need a wife really :err:

[MikeCracknell]

what amazes me is noone has mentioned a mortgage. reading through the amounts people are in debt and concerned kinda makes me want to grab you and shake you as to be honest, until you get a mortgage you have no real sense of big debt.

Mine was taken out 1.5 years ago, when i borrowed £165K to buy our house which was just under £200K. The amount i pay back? £948 a month. The total amount i pay back after 25 years is a shocking £300K approx. Thats debt... and up in newcastle we are far from the top end of house prices. But then again is now seen as 'acceptable' or 'ignored' debt.

dont forget you then need to pay for gas/electricty, council tax (which is £120 a month on its own!!!), car insurance for 2 cars, lease payment for the family car (a new zafira), life insurances etc and youve added another £700+ to the monthly bill.

Then throw in Petrol money (again for 2 cars), food for a family of 3 (even on a budget youre lucky to only spend £250).

dont get me wrong, i earn a decent wage to pay for it all and we do have a nice house and comfortable lifestyle and at the minute we have more coming in than going out but it all has a price

I dont envy people getting on the ladder now as in the early years it can be very very hard once you get a mortgage (and then throw in children etc.)

so the message is, enjoy your cash while you can as sooner or later, ie in the next 10 ro 15 years for most, you'll be spending more money than you can imagine lol

We can't get a mortgage big enough here. The flat downstairs is the same as the one we are renting for £775 a month. 2 bed place. For Sale for £215k.........

With the multipliers of our income working out for a mortgage of £160k, we have no hope!

[Mitchell]

I need a wife really :err:

hey you xx

[Barry123]

hey you xx

are you rich?

[craig180]

~Only debt I have is about £500 on cards and 90k on mortgage, although I only class it as "debt" if for whatever reason I fall behind on payments, which I never do. That's called manageable debt

[Andy72]

~Only debt I have is about £500 on cards and 90k on mortgage, although I only class it as "debt" if for whatever reason I fall behind on payments, which I never do. That's called manageable debt

exactly, 'managable', 'acceptable' etc etc all the same thing really. debt you cant really avoid and as long as you keep up paying for it theres no problem.

[Andy72]

We can't get a mortgage big enough here. The flat downstairs is the same as the one we are renting for £775 a month. 2 bed place. For Sale for £215k.........

With the multipliers of our income working out for a mortgage of £160k, we have no hope!

feel for you mate, i have young collegues in the same boat who want to get on the ladder intstead of living with their folks but just cant afford it, even pushing things to the limit. Those that have, have taken out 35 or 40 year mortgages :wacko:

[Jazz]

Nation is in debt on a scary scale. I just turned 20 and even now being a Uni student I'm several, several thousands in debt, and by the time i graduate (still living with parents mind!) ill be around 20k in debt at least, uni fees, maintenance loans, car loan, etc etc. And thats before I look at getting my own place... Being in debt has become a lifestyle now, and the cycle will continue IMO.

[Ryan]

erm i didnt have debts till i went to uni, i now have about 10k though across my accounts so should prob pay off the student loans lol

[Ryan]

shit. and I owe Ryan £100

haha

lol was 300 till 6hours ago ;)

[chrissaxovts]

iam 21 i owe 7500 to the bank,1500 to my credit card,2000 to some fiance comany,300 over drawn lost my job thats why iam over drawn, and 300 pound to my old insurance company cancelled it but sez i still have to pay it was paying like nealy 500 pound a month now paying 220 cause iam with a debt management company its the way forward if these no were esle to go :y:

[bbewekim]

flipping hate it, 7k loan, 1k insurance, love what ive got with the money but its a damn pain in the ass. so tempting to just buy a VTS and pay most of the debt off.

[Danhunt]

90quid topman card debt,
thats it

oh and 95quid in student fee's, im refusing to pay, mainly because i gave them the money at the beggining of the year, they claimed they never got it, and now they say they've found the cheque and want to cash it. I have no money in the bank, and any i do get i do not intend on giving the college

[Barry123]

lol was 300 till 6hours ago ;)

would have been fock all if it wasn't for some gay limit on my card :wall:

[VTR_paddy]

Who owes what and in what way?(Cards/loans/car finance)

I forgot how easy it was to get credit, had a fair bit of debt but paid most of it off, had a few cards left that i'd been paying interest on so decided to get a new card with 0% on balance transfers, came up with a credit limit of over £5k :S

Deffo gonna just transfer all my dosh over and pay it off asap then maybe buy a few trick bits for the saxo.

Currently owe £1.5k on cards
No loans
£8k on car finance(paid £2k up front)
Owe a mate a bit for the saxo.

well, im 18, and ow 1000 on a credit card, and 250 on an overdraft, and the worst part is, i only earn 250 a month, because im at uni, but said that i have just got a new part time job and next pay day i will be on 700 a month. so, your not the only one.

[Yates]

keep thinking about a house, but im never about, so would need to see about renting it, at the moment im saving money, most probs going to go towards a deposit on a house

but wont be for a while, doesnt arse me living at home, hardly ever there and when i am everyone else is at work

[endlesstimes]

well im debt free now

£130 rent per month
£30 phone direct debit
£38 insurance direct debit

earn £1600 per month on basic hours

Out of interest mate what do you work as?

[endlesstimes]

here here Lozza :)

I have no cards / no overdraft / no loans / nothing

If i cant afford it - save up for it - appreciate it all more

Thats the way..

[endlesstimes]

what amazes me is noone has mentioned a mortgage. reading through the amounts people are in debt and concerned kinda makes me want to grab you and shake you as to be honest, until you get a mortgage you have no real sense of big debt.

Mine was taken out 1.5 years ago, when i borrowed £165K to buy our house which was just under £200K. The amount i pay back? £948 a month. The total amount i pay back after 25 years is a shocking £300K approx. Thats debt... and up in newcastle we are far from the top end of house prices. But then again is now seen as 'acceptable' or 'ignored' debt.

dont forget you then need to pay for gas/electricty, council tax (which is £120 a month on its own!!!), car insurance for 2 cars, lease payment for the family car (a new zafira), life insurances etc and youve added another £700+ to the monthly bill.

Then throw in Petrol money (again for 2 cars), food for a family of 3 (even on a budget youre lucky to only spend £250).

dont get me wrong, i earn a decent wage to pay for it all and we do have a nice house and comfortable lifestyle and at the minute we have more coming in than going out but it all has a price

I dont envy people getting on the ladder now as in the early years it can be very very hard once you get a mortgage (and then throw in children etc.)

so the message is, enjoy your cash while you can as sooner or later, ie in the next 10 ro 15 years for most, you'll be spending more money than you can imagine lol

lol, true mate tbh i dont know how you manage to pay all that all i can say is well done? :) what job do you have? it would be interesting to know what salary your on to manage to afford all this out of interest to know where we all need to be heading lol!

Domo!

[Ryan]

would have been fock all if it wasn't for some gay limit on my card :wall:

lol was funny that was.

[Modified]

owe the mum £500 and thats it, £50 to her and jobs done! :)

[LSOfreak]

never gonna get a loan, (except when you buy a house becuase you sort of need to sometimes)

[JBVTR]

i got a 3k loan that i pay every month off....got it from my dads bank (Barclays) dad got it out for me as it was better for him to have it than me, and i pay him back the day that it comes out of his bank.

Then i owe insurance etc....i pay about £400 out goings :)

Thats uncanny, could have typed that myself mines exactly the same 3k loan through my dad with barclays and about £400 per month to pay everything off

[CampDavid]

God knows. About £150k, nearly all mortgage. My house is fucking great mind