To ask how much debt you are in?

[Sunshine3013]

Just that really.
Wondering how much debt the average person is in.. Including mortgage, loans, credit cards, overdraft?

Just curious!

About 240k mortgage
10k(ish) on credit cards
15k on student debt - not a student loan unfortunately (it was through a third party) so do have to pay out quite a large sum each month
Have PCP on a 30k car we got last year
About 2k on other credit accounts

That’s horrifying writing it all out like that

@MrsABC123

How the hell has everyone paid off their mortgages? Ours is massive and we're planning on moving in the next few years and getting a bigger one...

We could, if we downsized. Our house is now worth a lot more than the mortgage on it. I just don't want to move though, it's a total ballache!

£7k on a loan.
£2k credit card.
£1k in other debt (store card).

It doesn't sound like 'too' much but I have - due to pandemic-related bad luck - very high outgoings, and I'm not even making basic payments on some of it right now.

Student loan - god knows how much, it never seems to go down.
No mortgage yet.

I can't wait to be rid of them, this is the least debt I've been in in a decade. Nobody would think I was in debt - I have a decent job etc. But illness, poor life choices (driven by mental breakdown/BPD episode but still choices), dependent and unwell family and a series of quite bad luck have got me here and I am slowly, slowly changing it around. In about 2 years it'll be gone. And then at 33 I can start saving, building my credit, and sorting myself out to buy a house.

I work with multimillionaires quite regularly and it blows my mind someone I chat to in the pub could wipe all of my debt in a second without even noticing the difference and change my life. It's a hard thing to swallow, even though most of why I'm in debt is my own fault. It's a very weird thing, being skint all the time.

About 550K owing on mortgage, 9K on a loan and 400 on a credit card.

5k student loan
1k car
60k mortgage
About 16k of other debt

I'm wrapping it all up (bar the student loan) into the mortgage if my application is accepted.. I've used a lender specifically for adverse credit

Only my student loan now. I don't really count that as it just gets taken along with my tax and gets wiped off soon anyway!

Mortgage is 65k, another 12 years to run.

About £20k of loans on top of the mortgage and £3.5k credit card. Living nightmare and I don't know how I'm going to get out of it.

No debt at all. Mortgage and student loans paid off as well.

@MrsABC123 there is a forum board on money saving expert called mortgage free wannabes and there are diaries on there of people doing it and a sticky thread for posting when you did it and brief details.

For me it started as small overpayments and then it became a way of life and every time we remortgaged we cut the term and paid a lot more than we needed to each month. Plus if we had spare cash it was paid straight to the mortgage. It started off as a pipe dream that I thought was unobtainable, but it became quite addictive.

YABU how much debt are you in OP?

@TheMostHappy have you looked at money saving expert? The debt free wannabe forum is really helpful and very supportive and full of great advice.

About 7 years left on the mortgage. I don't even think about that.

200 euro on the cc.

Nothing else. It's taken me a long time to get here.

None

£280k on the mortgage - about 23 years to run.
£700 student loan
£4k personal loan, which I should probably pay off with savings

Just mortgage. I was in debt and making the final payment to be clear felt amazing. I now have savings for the first time ever. I have about £6k in my personal savings. That won’t be touched as it’s my emergency fund if I ever lose my Job etc.

Early 30s
£220k on mortgage (hoping to buy a new house next year though which will probably almost double this)
£10k left on student loan
£800 on 0% credit card (from £4K total put towards a car 2 years ago)

We’re pretty careful with debt generally and usually prefer to save rather than borrow, or just go without things.

I have 35k in loans which I’ve never really added up until I just checked my Experian and it showed me. I pay 580 a month, I then have a few store cards at 1200. I pay them but still when I saw that made me sick! My credit score is excellent Aswell 🤣🤦🏻‍♀️

My partner on the other hand has zero credit

@ZaraW

YABU how much debt are you in OP?

This came up a few months ago. OP, possibly not the same one, didn't share info but wanted others to.

Staggeringly nosy.

People in the UK owed £1,721.3 billion at the end of May 2021. This is up by £46.7 billion from £1,674.6 billion at the end of May 2020, an extra £882 per UK adult over the year. The average total debt per household, including mortgages, was £61,933. Per adult this was £32,544, around 108.7% of average earnings.

The average house now costs £268,000 and the average family income £29,900. I think that shows that people who have paid off mortgage on this thread are either: old; wealthier than average ; bought house ages ago; helped out by family; live in cheap area.

None , we have no mortgage or debts

No mortgage as rent.
student loan 3k
store card, over draft, credit card- 4k

£3,700 loan and £500 overdraft.

None, but we are in our 50s, so very different.