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?

rackham
Have a look at this thread
www.mumsnet.com/Talk/legal_money_matters/1987219-SPREADSHEETS-for-Debt-Control-Budgeting-Mortgages-etc
in particular this spreadsheet from it
docs.google.com/spreadsheets/d/13sP6D7BfKHaNGaEF2s9jArK6ZPwJd8NZj3eor4tzzB8/edit?authkey=CMjc4JEB&authkey=CMjc4JEB#gid=0

If you heard the stories on the news today about Credit card debt .....
my spreadsheet is what they were trying to say
but I did it better, years ago

The Standing order trick rocks

In last 3 weeks we've loaded 10k on a credit card to do things to a house before we move in

Today I started paying it off (£1800 today). Will clear it in 6 months or less.

New mortgage is half the old mortgage. Very happy with that after years of debt.

None

If I can't pay for it upfront I don't buy it.

Hate putting stuff on credit card, it's cash all the way for me.
I always carry cash.
I never want to see the end of cash.
I've never used a cash machine in my life and don't intend too.

Dumbo
Surely that's fraud and he should be in jail and you shouldn't have to,pay?
Surely?

£9k on 0% credit card that we will move to another 0% balance transfer in Feb for another 3 years but we pay £200pm off that, £18k car loan, £177k mortgage on our house and two other mortgages on the rental houses that we have. Phew!!! But all manageable with our joint income and we put all of our savings (£40k) into s deposit for our house so we have no savings left.

I don't worry about it for a second.

At least £150 k, awful! About to go bankrupt- not feeling good. We were rubbish, I admit, but we were given too much credit🙁Very very sad 🙁

Ta1kinPeace what's the standing order trick?

Roughly £63k

Kateyjane

That sounds very stressful Hope it all works out for you in the end.

No debt. Not even a penny.

Sorry OP.

@kateyjane. Sorry to hear that. Good luck with everything. Same to everyone else.

We have had debt in the past, not much though - less than 5 figures. But none now.

£34k loans/CCS and nada to show for it, as like you it was run up by ex on my name. Not easy to service it as a single mum with childcare bills and no maintenance payments at all!

I am though, haven't missed a payment yet, not sure how long that can last and need some help to dig out!

None. Credit card gets paid off in full each month, paid mortgage off.

I wonder whether there's anything you can do, OP, about the fact he drew up debts in your name. Would the small claims court be any good? Does anyone know?

None. Just mortgage. Hate the feeling of being in debt.

Was about 8,000 on frivolous spending that I'm certainly not proud of - I was a lot younger thought that's no excuse and was brought up by parents to believe if you didn't have the cash to pay, you didn't get. It was so easy to get credit and I got carried away. Again not proud, but have a well off DH who paid it off in a lump sum and I will never, ever get into debt again.

just reading back and surely there must be a way for those posters who had ex partners who ran debt up to not be liable?? How unfair

£250k mortgage. £20k kitchen loan £12.5 credit card. I'm cool with it. Used the debt to improve the house, added value to it. Loads of equity. It will all get sorted in the end. If the worst happens just downsize. I'm not hung up on being mortgage free. That's a bit of a fallacy on mn I think. Living mortgage free in £120k house at 45 isn't necessarily the best financial planning imo. But horses for courses etc Some folk find any financial risk an anathema but actually risk taking is central to accumulating capital.

15k loan and 1k credit card slowly slowly going down.

my personal debt is £900 on a credit card that is interest free, but I consider OH's debts in his name as mine too, as they were taken out for the benefit of me and the dds ( we would've been homeless if we didn't get the loan ) so all together around £9,000 but it's easily payable and me and OH are a team so both working to pay off all debt.

Can you ask CAB about debt run up in your name by ex?

I have no debts except my student loans (about £12k) but that's being deferred and I'm unlikely to reach the repayment threshold. I was in £65k debt a few years back but I had it wiped through going bankrupt.

Post-divorce & my finances are complicated. I have around £100k mortgage which will be paid off in 5 yrs. It's at around 1.5% so makes sense as property is appreciating more than that. Yet monthly payments are steep. I owe around £10k at 3.5 % on car loan, paid off in 4 yrs. I owe HMRC a little less than £20k due to a failure to pay cap gains tax a couple of years ago. We are still negotiating but hope to pay that off in 5 yrs. I never rack up debts on credit cards.
Rack key thing is to chip away at debts & to learn that spending lots does not equal happiness. No fancy holidays for me, but I do get a few cheap outings in & eat out once a month, no more. I take a thermos of coffee always, no Starbucks. My new hobby is finding the best deals on everything. You will be out of debt soon & it will have been a good lesson in debt avoidance.

I'm in debt over a million pounds if that makes you feel less daft for reckless financial decisions rackhampearl?

Student loans £50k, overdraft £1,800, mortgage £115,000 so £166,800.
Without mortgage £52k