Just opened our credit card statement

[Mooycow]

And am so shocked , it’s over 25.000, ! My husband deals with all the bills ( I do everything else) ,he gets online billing and tears up the statement when it arrives , we have together spent the money ,it’s all way too easy ,obs, AIBU to be shocked that we owe that amount .

[trojanpony]

£25,000????

I earn a good wage but would be slack jawed about this

[EngTech]

Nope, debt is not a problem until you can’t make the repayments.

Then the nice people who let you have the money, start not being so nice and want it back with interest.

If you are happy with a £25K debt, then no problem really

[smithssquarecrisps]

What have you been spending on and over how long? Obviously you realise this is a huge amount of money. Do you have the ability to pay it off?

[trojanpony]

do you know what he spent it on?

[Tink2007]

Do credit cards give oridinary people £25k limits? 😱

[mumpoints]

The interest rate (presume you are not paying in full each month) must be huge. Work out what that £25,000 has REALLY cost you.

[SpiritedLondon]

No you're NBU. If I were in that position. I would be crying - not only because it would take likely years to clear it but because your DH has not flagged up earlier ( or that you had not identified ) that you are living beyond your means and allowed this debt to escalate. What are you going to do OP?

[WTFIsThisVirus]

I think you need to work out your budget, and determine if you're living within your means.

£25K is ridiculous

[Mooycow]

We have had the card over 5 years, it’s things like big sums of money like car services , tiles for bathroom that sort of thing , but I thought we paid it off each month, considering he is so hot on making sure the mortgage is fixed rate , best rates for gas etc , I am genuinely shocked , we can afford the repayments and he has been making above the minimum payments . Might have to forgo the Caribbean holiday again this year .

[ConciseandNice]

Woah, I owe about a grand and that freaks me out dreadfully and I have a good income etc. That must have a shit tonne of interest. YANBU. I'd be desperately stressed.

[Awwlookatmybabyspider]

Well if you can afford the repayments what the point in starting this thread.
Stealth boast comes to mind.

[Haffiana]

So what are you going to do about it? Carry on as before or try to live within your means?

[LemonShark]

"Might have to forgo the Caribbean holiday again this year ."

[WTFIsThisVirus]

I agree with aww

Might have to forgo the Caribbean holiday again this year

[FiveShelties]

Could you not just put the Caribbean holiday on the credit card?😀

[NoCureForLove]

If you can afford it is is spectacularly stupid to be paying interest on that sort of balance on a cc. If you can pay it off each month fine. if you can't you really can't afford it...

[PrincessMargaret]

You ran up 25k on car servicing and bathroom tiles? When we were young and foolish mine was about 10k but we'd been to St Tropez and New York and paid stupid prices for meals out and sunglasses etc. I don't do things like that anymore.

[mumpoints]

Awwlookatmybabyspider How can it be a stealth boast lol?! The OP is in debt, she couldn't afford to buy bathroom tiles without going into more debt, depending on her card it will cost her around £10,000 to have borrowed this money and could take up to 20 years (well over that if only the minimum is paid) to clear!

[lougle]

EngTech that's a really dangerous way of thinking. People only find out they can't afford debt once they can't afford it. What happens more often, is that they shift it to 0%, pay off minimums, add to it, shift it to 0% rinse and repeat, until they run out of offers. Then the debt builds, and they suddenly can't find a balance transfer big enough.

So they split it, take the lowest offers they can, add to them, shift them.... Rinse and repeat... then they get the idea of 'consolidating', then reconsolidating, etc., and they only find out they can't afford it once they apply for yet another reconsolidation loan and get told......no.

By that point, they can't afford not to reconsolidate, because they can't afford the repayments, but the companies won't allow them to reconsolidate because they won't be able to afford the repayments. That's the definition of stuffed.

[Putyourdamnshoeson]

How the fuck is a £25k CC debt a stealth boast. That's not just times and car servicing.
Get him to show you online statements, now and sir down to sort out paying this off asap.
Circumstances can change vv quickly.
I can't believe you isn't know about this.

[mumpoints]

www.moneysavingexpert.com/credit-cards/minimum-repayments-credit-card

Do the maths OP

[altiara]

I’d be horrified!!
Not much of a stealth boast in my mind - £25k credit card debt - you couldn’t afford the Caribbean the last time never mind again! You can’t even afford Cornwall.