How much debt are you in?

[Bottomlesspit21]

Following on from the savings thread, how much debt are you in?

Not including mortgage but including student loans, car finance etc.

I’m not in any debt but haven’t got much in savings either!

about £14k credit card debt. Mostly from buying furniture etc for the house when me and my partner first moved in together as we didn't have anything at all. I've buried my head in the sand for a few years but I've just set up payment plans for them and will make extra payments as and when I can to get them paid off. Going to take years but better to start now than wait another 3 or 4 years

About £1,600. I don't have a mortgage or student loan.

None except mortgage.

Over 40k in a trust deed. Lost my house.
Im 2.5 years in and a considerable amount of therapy to deal with why I fucked up so spectacularly. Hope that helps.

Why do people who have mortgages keep saying that they have none? If you have a mortgage then you have debt.

Its all relative isnt it.

£120,000 on my credit cards but have £1million in equity on my house.
So not actually in debt- very solvent.

Early 50's,none.

£239,000 approx (mortgage)

None. I paid off my graduation loan within 7 months of graduating, didn't buy a car until I had savings to pay for it, and have only paid for holidays/Christmas etc from savings. We paid off the mortgage last year.

About £5,000 on credit cards but I have about £25k in savings and about £350k in equity in my house so not concerned. Used credit card for protection on some purchases and it's 0% for the next two years.

@RaindropsonPiglets

Its all relative isnt it.

£120,000 on my credit cards but have £1million in equity on my house.
So not actually in debt- very solvent.

That sounds terrifying!!

You're what's know as 'cash poor'.

£107k left on mortgage and about £1000 on a credit card

None I have always tried to live with our means.

We now own the house.
Have a secondhand Astra which we have had for quite a while.
I don’t follow fashion but buy what I like and often sale items. I don’t buy many clothes or shoes. I have bought one top this year and no shoes.
We eat well because I am quite a good cook, like a bargain and in the summer we grow some veg and fruit. We also have hens and in the village people offer surplus including us.

In the past we struggled at times because we have four children and they needed feeding a lot and clothing. Presents were kept to birthdays and Christmas. We occasionally bought something small on a holiday for them. We went camping in Britain and France. Three of them have been abroad numerous times now they are adults. One has been once with friends.

We have savings and some inherited money which is in savings and invested.

We have both recently retired.

Student loan, not sure, but over £50k (several loans at different levels, over time).
Credit card, about £2k
Mortgage around 85k

I don't think that's too bad. I don't usually count the student loan in the same way as mortgage or credit card.

I have about 7k on personal loan
Made huge effort to pay off credit cards and PayPal credit and next last year.no intention of getting back on that tread mill ever. I should have known better.

Zombie thread

I have approx £80,000 left on the mortgage (live in the north own a flat)

I think technically my phone contract is a debt which is over in October/ November.

I'm mostly debt free due to pure luck of having good health and no major life crisis (yet!)

No judgment on people who have debt. At the end of the day we all have life crises and need to buy shit!

£20,000

My dad fraudulently took out catalogues and credit cards in my name.
To keep the peace in the family I didn't contact the police, but I am now NC with him and keep a very close eye on my credit score.
I'm on a debt management plan to pay it off.
He did the same to my older brother which we've only just discovered.
My mum, although she's been divorced from him for almost 20 years, has begged us not to do anything.

I was brought up in semi-poverty with people always knocking on the door for money. It was horrible. The rows and the constant bickering made me determined not to live like that.
It made me into a worrier.
All my working life I saved. I never bought a thing I could not afford (apart from mortgage).
If I bought something big, I saved up and replaced the money before I bought anything else.
Friends had nice holidays and nice cars on finance, but we bought second hand and holidayed in a caravan at the seaside.

Every penny I saved was taken from me when my husband cleared off so that turned me into a bitter old harpy for a while.

These days I don't give a shite about money and if I want something I will have it (within reason:)

1.5k on Paypal credit. Kicking myself for it now. Only reason I ended up getting it was because I decided to go for a stupid Voxi phone plan that's not even that great anyway.

You're what's know as 'cash poor'.

Not really I have a decent monthly income
Refurbed/rebuilt my house on credit cards as cheaper short term than a mortgage (hard to get a mortgage for 2 years only). I will pay it off before Christmas probably.

The idea that credit card debt is bad and mortgage debt is good is all a bit on nonsense. Depends on the rates of both.

I think to really gauge an idea of how people live would be to view the debt free wannabee boards on money saving expert.

Whilst there are people with 'none just mortgage' posting, based on my experience of working in a bank for 8 years around 85% of people have some sort of debt whether it's overdraft/credit cards/loans of some description.

Whilst I am very fortunate to be in the position of 'no unsecured, just mortgage'' this is certainly not the average norm amongst the country

None except mortgage of £315k (we were FTB in 2019). We only have £20k in savings as we are ploughing £800-1000 per month into mortgage overpayments. I pay off my credit card every month in full. No car and our phones are bought with cash.

no debt and mortgage free.