To ask how much debt you're in?

[rackhampearl]

Just need cheering up really. In around £6000 worth of debt. Just wanna know what others people's debts are and if you are avoiding them or facing them. I am facing mine but the whole thing is really scary and overwhelming. I wish I were as sensible with money back then as I am now. I feel such a fool. What debts do you guys have?

No debts, but also no assets and not much of a pension.

Mortgage and around 2k in credit card debt (was 4k at Christmas but working hard at paying it off)

Mortgage of around £120k, about £3k on an interest free credit card paying minimum payment so going down slowly. And a car loan with about £4K and 2 years left. Dh also has similar loans and cc.
Not great, but is manageable.

About 15k !! Working our way through paying it off!

Other than my £3,000 (from 1997, deferred every year) hanging around like a bad smell, we have no debt.

We also don't have a mortgage, we rent. 20 year old car, when it goes we'll buy another 2nd hand in cash.

We have savings as our jobs are a little bit all over the place.

My suster got into horrendous debt many years ago when Switch was introduced- like spending invisible money! It freaked me out so I have always been very careful. My student overdraft when I left university was paid off within 3 months (lived at home, didn't go out, worked 3 jobs).

DH and i have had zero financial help from parents, ever. No downpayment for a house, no driving lessons, no contribution to our wedding - we don't expect anything, I hasten to add.

My sister's situation left a knot of fear in my stomach expecting bailiffs. DH's parents have always lived by the seat of their pants and he had yo grow up very fadt and deal with lian sharks on behalf of his dad. Long story; it is not something he wants to live through again.

Once your debt is clear, rackhampearl you sound like you won't be in debt again. Best of luck

£3,000 student loan, that should say!

Just the mortgage. But I did have a similar amount to you in student loans and took a few years to pay off. I won't use credit cards etc now cos I feel anxious about owing money.

My ex was terrible with money. I would bail him out of overdraft fees every month and give him loans for urgent stuff like fixing car and boiler. I never got paid back but I haven't been left with any of his debt. I suppose the silver lining for you (and me) is that we won't spend our old age being dragged down by someone else's irresponsible spending. I shudder to think how he'll get by once retired.

Just the mortgage.

We're pretty careful with money.

Mortgage (DH) and my student loan of about £15k. I'm not earning anything to pay off loan atm, but it's there if and when I return to work.

Credit cards paid off in full every month thankfully. I have family and friends who struggle financially, and can't afford to get on the housing ladder many years after leaving university. We are very thankful to be able to manage to live on one salary so I can stay at home with our (soon to be four) children.

Overdrawn by about 1.5K
Dh's car finance about 3K
2 credit cards at about 2K each
A bank loan with about 4K still to pay
So we're about 12.5K in debt. It's going to get worse before it gets better too unfortunately

Mortgage and a car loan. Plus about £300 a month on credit cards but they are always paid off in full.

Several years ago we had unsecured debts of 57k. It's all been paid off now but it means we are now pretty careful. I need a decent car now as I do a lot of miles for work but had a banger for years.

Currently my only debt is my mortgage. I've had up to £3000 a few times for things like a car, boiler, window/door replacement etc, but it's always been well within my ability to pay, and well serviced.

Transfer any credit card debt to cheap 0% interest cards, and pay off the most expensive debt first. Discipline will get you out of it if it's within your ability to pay it off.

About £40k on our mortgage and about £300 on a credit card.

Every now and then, I make a big(gish) purchase on my credit card, and pay it off over 2-3 months, just to help my credit score, in case I ever need a loan.

We've talked about paying off our mortgage, as the interest we get on our savings is shite and it seems daft having money in the bank and still paying £500 a month on the mortgage.

About 1200 but what might cheer you up is that it's previously been 8000! So it can be done. That was just crap on credit cards, trying to buy happiness

Personal loan of about £4k, which will be paid off in the next couple of years. Plus the mortgage, which has about £90k left on it. I'd prefer to be rid of the loan asap and we are making overpayments.

Around £250-£500 on Tesco credit card which we use during month and pay off on payday. So nothing really. Mortgage free as of last month.

We avoid debt whenever possible, live within our means and save for most things rather than pay up. It has been hard at times as dh is self employed and we can go weeks with no income from him, but mines is stable. Been lucky not to have had any illness/separation/unemployment etc.

You all sound very sensible. At least you have investments to show for your debts STBXH and I just racked up debts for materialistic purposes. Champagne tastes and lemonade pockets. Not how I was brought up at all. I will pay every penny back though, by hook or by crook. I already quit smoking cold turkey in December and haven't touched a single cigarette since, that is saving me a pretty penny. Thank you all for chipping in on this thread.

Student loan - only coming to the end of my first year now, not worked out how much the total comes to yet to be honest.

Other than that nothing. I'm too much of a worrier to have other debt, the thought of owing anyone money terrifies me.

Well done for giving up smoking! You will get there, your debt is not huge. We have a £360K mortgage which I consider enormous (though have good equity too). About £2.5K on credit cards. All payable but does make you feel a bit ill.
Good luck OP

Good luck op, it's tough.

About 3k. Once that's paid off I'll have no debt at all. No overdraft, no credit cards, no personal loans, no student loans and nothing on finance. Mortgage is in DP's name as he owns the house. I don't pay towards it but I pay for all the food and household bills

Ours is more manageable now but was racked up by 2 x redundancies

1 x cc with 1.5k on down from 7k
1 x loan about £600 left to pay
My overdraft which is around £400
And DH overdraft which is around 1k
Oh and the mortgage is 150k

3k down from around 25k, we overpay on the loan and the credit card is being whittled down by £300 a month. I want to be debt free by the end of the year bar the mortgage.

We have a little savings now as well, which we use in case the boiler packs up again

I spent most of my 20s in credit card debt and pay day loans as well as taking out a career development loan whilst doing a masters then PhD. All my income would go on paying back debt. I had no clue how to look after my finances. My DM had years of secret credit cards and I grew up with her always asking me to hide credit card letters from DF. She regularly asked for money and I fell into the same cycle as her age 18 picking up a store card in Topshop because I thought that was normal and the only way to buy nice stuff. For years it was credit cards, overdrafts, Littlewoods and pay day loans to cover day-day-living and one card for my wedding. I had an appalling understanding of spending and budget money. Now in late 20s, I've paid off most of my debt and have 5 months to go of paying out £200pm then it will all be paid off. The ironic thing is I've regularly had a semi-decent salary but never been able to enjoy. I've learnt to budget now and be sensible with money. I used to be out for drinks, have no money and apply for a Wonga top-up of £20 whilst out just to buy some drinks and it would all be gone by the end of the night. The amount of times I've used the joint account card because I ran out of my own money. I'm ashamed, I've had to grow up a lot with money and work hard to not let it happen again. The complete loss of freedom, sacrifice of salary, relying on it to live - I never want to go back to the constant stress of it, of feeling trapped and frustrated

None (mortgage paid off a couple of years ago )

We are very, very lucky to be in this position though and bust a gut to pay off the mortgage.

I don't judge anyone who has debt though - it can happen to anyone for lots of reasons.