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AIBU to ask how much personal loan/CC debt you have?

(60 Posts)
AllTheGlitter Sun 24-Mar-19 20:41:21

Hi guys, I’ve just done a blush debt consolidation loan and having a bit of a panic. The payments are fine, we can definitely afford them. Just want to know if anyone else is in my situation as I feel like the only one! sad

Fluffyears Sun 24-Mar-19 20:45:59

I’ve just finished my loan this month. I’m finally nofnin any debt apart from our mortgage. It’s worth it to pay off your debts just don’t run up your card whilst paying off the loan.

MustBeAWeasly Sun 24-Mar-19 20:49:04

We've got 7.5k on a loan at 7% and 1k on finance for out couch at 0%.
Deaperatly trying to pay the loan off early though it makes me sick having one I'm constantly worrying the car might go or something else will happen and we'll have to take out another

AllTheGlitter Sun 24-Mar-19 20:49:32

@fluffyears congrats! Bet that feels amazing! My cards are being cut up, no more cards.

CheekyChappy710 Sun 24-Mar-19 20:50:46

So you've done debt con so how much debt have you got now? At least tell us your situation before we share ours...

AllTheGlitter Sun 24-Mar-19 20:50:55

@mustbeaweasly yeah it’s making me feel sick I’ve had to do it but after living alone for 3 years I did mount up a fair bit of debt. Now have £10k over two loans and not doing anything else now.

Myextensionisgivingmeaheadache Sun 24-Mar-19 20:51:27

Around £3k on a credit card which as been there pretty much consistently for a few years, we chip away at it then put more on, then repeat the process. We are desperately trying to pay it off though and throwing as much as we can at it per month.

AllTheGlitter Sun 24-Mar-19 20:51:35

@cheekychappy710 it’s £10k in total, sorry thought I’d put it

Fairylea Sun 24-Mar-19 20:53:00

We have quite a lot of debt and a low income - we manage on dhs low wage and disability benefits for ds etc, to be fair a lot of our debt comes from buying a house that turned out to need a lot of work doing (roof / electrics etc). We have £10k personal loan and £3.5k on our credit card and an overdraft of £1k. Madness really but we can afford it all so don’t really worry about it. My mum just passed away and I have inherited her house so all debts including mortgage are due to be paid off. We will have to be careful not to run it all up again. blush

Pinkyponkcustard Sun 24-Mar-19 20:53:20

Consolidation is all well and good if you don’t run up the debt again. Can you pin point where the debt came from and what you’ve got in place to stop it happening again?

AllTheGlitter Sun 24-Mar-19 20:54:17

@fairylea sorry to hear about your mum but that’s good news about the finances! flowers

Spanglybangles Sun 24-Mar-19 20:54:22

£184 on cc and £300 on next account. Nothing else but offering on a house this week so will soon have a mortgage to add to that (hopefully).

Fluffyears Sun 24-Mar-19 20:54:47

It is a great feeling and I am now going to build my savings up.

AllTheGlitter Sun 24-Mar-19 20:55:47

@pinkyponkcustard it’s from a few years ago when I lived alone and earnt less than I paid out for bills unfortunately. Now about 13k better off salary wise but seemed to be throwing money at cards and then not seeing a difference

Disfordarkchocolate Sun 24-Mar-19 20:55:58

About £18 but its been a long hard slog to get there, some good luck too. I hope it all works out for you, the relief of not living in my overdraft and not owing money is immense.

AllTheGlitter Sun 24-Mar-19 20:56:32

Thanks all, makes me feel less alone! Hope everything works out for you all xx

Fairylea Sun 24-Mar-19 20:57:11

Thank you, yes I appreciate how lucky we are to be in this position financially. We’ve spent many years really struggling - we even had a local charity pay for us to fix our leaking toilet once as we just couldn’t afford it! blush Once you get into debt it becomes such a spiral and sometimes if you are low income you really can’t manage without borrowing - especially if you own your own home as we do (house repairs etc).

Good luck to everyone trying to pay off debt flowers

riotlady Sun 24-Mar-19 20:57:56

(Mind you we have no assets either... no car, rented flat, about £1000 in savings)

LorelaiRoryEmily Sun 24-Mar-19 21:02:43

I’ve literally just finished paying off my Mia spent 20’s🤦🏻‍♀️ I’m 35. 5 years ago I owed €6000 on credit card, €700 overdraft and €16000 personal loan. And I drove a banger🤣 now I have no overdraft, no credit card, no loans, drive a nice car that I own outright, have a very healthy savings account and paid for a wedding without borrowing.
We’ve just got mortgage approval so hopefully we’ll have a mortgage soon but that’ll be it. Lesson learned the hard way

SkinnyPete Sun 24-Mar-19 21:05:58

I've been in bad places before, like ~£15k. Currently at zero debt but going through a bad divorce that's insistent on solicitor lead everything. I think I'm gonna be back in the bad place soon 😬

Lazypuppy Sun 24-Mar-19 21:07:06

I've got a£10k loan for a car but thats it. CC is used and paid off in full every month, normally around £200

BillyAndTheSillies Sun 24-Mar-19 21:13:03

Around £2k on credit cards. I had a 0% card and the deal ran out about 6 months after I had to put a load of white goods on it.

Since then, I did a balance transfer, applied for a new card but never took it out of the envelope or looked at the pin. It's purely for paying off the kitchen. This time last year I was at nearly 8k so quite happy with how much I've managed to pay down.

bibbitybobbityyhat Sun 24-Mar-19 21:13:20

None at all. We (dh and I) decided to give all that up and live in a scruffy house that needs loads doing to it (which we'll get round to gradually) about 20 years ago.

We have had big credit card debts at times. It's a terrible feeling.

PookieDo Sun 24-Mar-19 21:17:02

I moved house and it was much more expensive than I anticipated
It’s 0% at the moment but I don’t know how I will actually clear it...

dementedma Sun 24-Mar-19 21:17:03

2K on interest free credit card and 28K on mortgage.

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