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

[AllTheGlitter]

Hi guys, I’ve just done a 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! :(

[Fluffyears]

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]

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]

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

[CheekyChappy710]

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]

@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]

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]

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

[Fairylea]

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.

[Pinkyponkcustard]

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]

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

[Spanglybangles]

£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]

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

[AllTheGlitter]

@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]

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]

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

[Fairylea]

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! 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

[riotlady]

None
(Mind you we have no assets either... no car, rented flat, about £1000 in savings)

[LorelaiRoryEmily]

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]

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]

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]

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]

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]

£3k
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]

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

[Youmadorwhat]

No loans or mortgage (paid off thank god) just a cc bill of 1,200 that I pay the minimum on as its 0% but could pay it if necessary with savings.