More Debt's
23 April 2003, 09:15 PM
#4
Scooby Regular
Join Date: Oct 2002
Posts: 281
Likes: 0
Received 0 Likes
on
0 Posts
Nobody can beat me so don't even try :P
25k Debts (unsecured)
6 Defaults
No house
Life completely ruined because of all this. I'm counting on winning the lottery. If not I'm fukced.
Marc
25k Debts (unsecured)
6 Defaults
No house
Life completely ruined because of all this. I'm counting on winning the lottery. If not I'm fukced.
Marc
23 April 2003, 09:49 PM
#6
Scary stuff, good luck with the lottery !
I just cant bring myself to get loans/Credit Cards anymore, got about six grand in debt and it was sould destroying so can sympathise, Its not so bad if you have somnething to show for it but by and large most dont. Holidays are great but if you pay for them on Credit and then come back to the debt, big downer. I had a store card and ran up five hundred on it, bloody Top Shop (1990's by the way) and people run up debts for designer gear that goes out quicker than our dog at dinner time.
Car negative equity also, been there.
I just cant bring myself to get loans/Credit Cards anymore, got about six grand in debt and it was sould destroying so can sympathise, Its not so bad if you have somnething to show for it but by and large most dont. Holidays are great but if you pay for them on Credit and then come back to the debt, big downer. I had a store card and ran up five hundred on it, bloody Top Shop (1990's by the way) and people run up debts for designer gear that goes out quicker than our dog at dinner time.
Car negative equity also, been there.
Trending Topics
23 April 2003, 10:48 PM
#8
Scooby Regular
Join Date: Nov 2002
Location: Talk to the hand....
Posts: 13,331
Likes: 0
Received 0 Likes
on
0 Posts
Never a lender or a borrower be.... 
If ya ain't got the money - ya can't afford it: period.
Credit is evil, there's no such thing as a free lunch etc...
sorry, but that is my (rather unfashionable) philosophy I need a Visa card for work related travel - but that is all it gets used for, honest... 
[Edited by unclebuck - 4/23/2003 11:12:50 PM]
If ya ain't got the money - ya can't afford it: period.
Credit is evil, there's no such thing as a free lunch etc...
sorry, but that is my (rather unfashionable) philosophy
I need a Visa card for work related travel - but that is all it gets used for, honest... [Edited by unclebuck - 4/23/2003 11:12:50 PM]
23 April 2003, 11:15 PM
#12
Scooby Regular
Join Date: Nov 2002
Location: Talk to the hand....
Posts: 13,331
Likes: 0
Received 0 Likes
on
0 Posts
mortgage is the (rather irritating) exception, of course 
Though, I thankfully don't have one of those anymore...
[Edited by unclebuck - 4/24/2003 12:01:38 AM]
Though, I thankfully don't have one of those anymore...[Edited by unclebuck - 4/24/2003 12:01:38 AM]
23 April 2003, 11:51 PM
#14
Scooby Regular
Join Date: Apr 2003
Posts: 32
Likes: 0
Received 0 Likes
on
0 Posts
5yrs ago, after my divorce I owed about £25k on loans and cards. It was a time to say "enough's enough".
Luckilly I was in good paying job and had no kids to pay for, so I set aside 30% of my net earnings to clear my debts at 1st.
Debt's a killer.
Luckilly I was in good paying job and had no kids to pay for, so I set aside 30% of my net earnings to clear my debts at 1st.
Debt's a killer.
24 April 2003, 02:26 AM
#16
Scooby Regular
Join Date: Jul 2002
Location: JFK/LHR
Posts: 3,571
Likes: 0
Received 0 Likes
on
0 Posts
Store card, small credit card ( left over from time at uni so credit card is **** all) whopping london rate student loans (hardly a pressing debt), and thats it.
Nothing major and i bought my car for cash- no finance thank you.
Debt sucks.
Nothing major and i bought my car for cash- no finance thank you.
Debt sucks.
24 April 2003, 10:33 AM
#18
too much
only about 1500 quid left on my student loan(have been paying for 4 years now)
cards 4k
car 9k
having said that it only mounted up very recently(due to lack of funds) Im not worried, my circumstances have changed -new job and Im able to pay 1k a month off without stretching myself
only about 1500 quid left on my student loan(have been paying for 4 years now)
cards 4k
car 9k
having said that it only mounted up very recently(due to lack of funds) Im not worried, my circumstances have changed -new job and Im able to pay 1k a month off without stretching myself
24 April 2003, 11:00 AM
#20
Scooby Regular
Join Date: Jul 2002
Posts: 2,458
Likes: 0
Received 0 Likes
on
0 Posts
Debt is slavery......hence best avoided under all cirumstances. I took out student loans, whih took 4eva to pay off...taught me a lesson..if I aint got it, I cant afford it. Strictly a cash user these days.....fortunately zero debts, car paid for with cash, no loans, no cards..cash in the bank
[Edited by turboman786 - 24/04/2003 11:00:40]
[Edited by turboman786 - 24/04/2003 11:00:40]
24 April 2003, 11:12 AM
#22
Scooby Regular
Join Date: Oct 1998
Location: London
Posts: 4,891
Likes: 0
Received 0 Likes
on
0 Posts
Have to say, I didn't realise how much stress I was under from debt until I got rid of it all. At one stage I had a large chunk of finance on the car (> 10k), loads of credit cards filled right up (> 15k), big mortgage, and lots of other debts kicking around. 
I didn't think it was an issue, 'cos I was earning stacks, and enjoying life.
Now all the debts are gone, both cars are paid-for, cards are all empty, I feel sooooooo more relaxed and easy-going. I would heartily recommend that people get rid of their debts ASAP (even if it means going without stuff you might want)......
I didn't think it was an issue, 'cos I was earning stacks, and enjoying life.
Now all the debts are gone, both cars are paid-for, cards are all empty, I feel sooooooo more relaxed and easy-going. I would heartily recommend that people get rid of their debts ASAP (even if it means going without stuff you might want)......
24 April 2003, 10:36 PM
#25
Scooby Regular
Join Date: May 1999
Posts: 7,901
Likes: 0
Received 0 Likes
on
0 Posts
In fact, got cash in the bank, and I've got two invoices outstanding which are due to be paid soon
Or do you mean YourCompany has got two invoices outstanding?
25 April 2003, 08:45 AM
#27
Scooby Regular
Join Date: Feb 2003
Posts: 1,717
Likes: 0
Received 0 Likes
on
0 Posts
Here's a depressing thought...anyone with a mortgage, but who also has a £20k motor they paid 'cash' for..well imagine what that £20k car really costs when you spread it against the £20k mortgage over 25 years you could have paid off...
Chuck
Chuck
25 April 2003, 11:49 AM
#28
Scooby Regular
Join Date: Aug 2002
Posts: 39,877
Likes: 0
Received 0 Likes
on
0 Posts
UB and Turbo are right in what they say. I learned in my formative years about keeping out of debt since we were financially poor. We all saved up as far as we could before we bought anything then. It did not seem to make us less happy though.
Mortgages dont count really since it relates almost to paying rent but at least you own the place when the mortgage is paid off. I feel sorry for those with enormous student loans to pay off, doesn't seem right to me somehow. A large debt really is a bit of a millstone, and it is frightening how easy it is to get suckered into that situation these days.
Les
Mortgages dont count really since it relates almost to paying rent but at least you own the place when the mortgage is paid off. I feel sorry for those with enormous student loans to pay off, doesn't seem right to me somehow. A large debt really is a bit of a millstone, and it is frightening how easy it is to get suckered into that situation these days.
Les
25 April 2003, 12:18 PM
#29
Scooby Regular
Join Date: May 2001
Posts: 4,228
Likes: 0
Received 0 Likes
on
0 Posts
Just thought about it:
Mortgage £250,000
Loan from Dad £30,000
Car Loan £15,000
Credit Card £12,000
Tax £9,000
Overdraft £6,000
Apart from that I don't owe a penny
Now I remember why I was suicidal
Mortgage £250,000
Loan from Dad £30,000
Car Loan £15,000
Credit Card £12,000
Tax £9,000
Overdraft £6,000
Apart from that I don't owe a penny
Now I remember why I was suicidal
25 April 2003, 12:37 PM
#30
Scooby Regular
Join Date: Oct 2004
Location: London
Posts: 4,797
Likes: 0
Received 0 Likes
on
0 Posts
I have always been averse to getting in debt - went thru college without owing the bank more than a few hundred quid. Took out 2 student loans as it made sense to pay 2-3% interest. Since becoming a bit more well off I have got into more debt than when I was poor, but it is planned and leaves plenty of disposable income. Current balance sheet is:
Mortgage: 210k
Credit Card: Cleared each month
Personal loan: Was 15k, about 8k outstanding
Car Finance: about 7k outstanding on the trouble's mini
That's it. Would like to get rid of the car loan and personal loan, but it's managable atm.
Charlie.
[Edited by ProperCharlie - 4/25/2003 12:41:00 PM]
Mortgage: 210k
Credit Card: Cleared each month
Personal loan: Was 15k, about 8k outstanding
Car Finance: about 7k outstanding on the trouble's mini
That's it. Would like to get rid of the car loan and personal loan, but it's managable atm.
Charlie.
[Edited by ProperCharlie - 4/25/2003 12:41:00 PM]