To ask how much debt you have?

[Wellisayohyeah]

Where it is from, and if you're paying it off?
Does it worry you?
I have 500 on a CC, 500 on a personal loan, about 300 on an Argos card and 300 to a Monzo overdraft.

I also have my mortgage and student loan but not counting!
The above figures are what I've got it down to now and what's left to pay off.

These threads attract far more people who want to use the opportunity to say they have zero mortgage and zero debt than those who want to share. Which I’ve always found a bit strange because if someone is asking how much debt you have and the answer is zero then surely it’s not a thread you need to respond on
🧐
These threads have been going as long as mn has been active.
Back then I was up to my eyes in debt and say so!
Of course its a thread you can respond to if you have zero debt. It's a valid answer.

Yes these threads always attract the debt free ones who love to proclaim “None!” … or the ones that shame others for having debt
Who is shaming others for having debt?
Anyway there's nothing wrong with having managed debt. Other people( me included.) end up in debt through no particular fault of their own, just terrible circumstances.
It's tough going and bloody marvellous when there is light at the end of the darkness.

Do you think the OP only wanted people who had debt to respond? I didn’t get that impression. I commented that I have no debt other than mortgage now but only because I have just repaid significant CC debt… do you think the OP wasn’t interested in hearing from me either?

Just a mortgage but I am permanently skint and if I can't afford it I don't buy it.

15k . House renovations . Can easily afford the repayments over next couple of years . I see no issue using a loan for something that you’ll get let’s of benefit from in the meantime whilst you pay it off and would otherwise be hard to save for . Getting yourself set up as a young family and into the housing ladder is hard so will happily spread it out a bit . When mortgage payments and childcare come down I will become a saver. Early 30s

suprised so little debt is reported here . Maybe older with inheritance or benefited from the housing market . I’be got no family to help me with money so I loan and pay it off . I’m ok with it as I’ve done it many times and pay it all off no issue

suprised so little debt is reported here . Maybe older with inheritance or benefited from the housing market

Yeah, not really sure whether anyone has benefitted or learnt anything from this thread (mostly mortgage and debt free).

Is it a loan or a credit card? You need to get this onto a 0% card asap.

I would never do this for a partner. Not a chance.

I think the lack of financial education is interesting, for example people borrowing on store cards like Next rather than using a 0% credit card.

If one person realises they could avoid paying interest then the thread will be worth it.

Two loans combined around 28k and 3k on credit card which planning to clear CC by oct

Probably somewhere around £10k across 0% cards and a loan. Over the past 18 months that has come down from about 14k

The loan is coming down with each £100 monthly payment and will be cleared next year.

I pay around £300 off the cards each month, and when the loan is done I'll put that towards it too. The numbers are moving in the right direction and should be cleared within a couple of years.

I own my car, it is a little older now, I've toyed with selling that once the debt comes down enough to be paid off by the proceeds, then getting a new car. But then I'd be swapping 0% debt for whatever rate the car finance company decides.

It's very easy to get into debt and trickier to get out. It's definitely made me more aware of where my money goes.

suprised so little debt is reported here . Maybe older with inheritance or benefited from the housing market

I think this poster fails to recognise that many people of my generation (nearing retirement) were brought up in an environment where debt was considered undesirable or even shameful.
Debt has been normalised now (student loans being a big part of that), and personally I think that's a bad thing.
As for inheritance, I received none to speak of, and, in terms of the housing market, having your mortgage rate go from 12.5 to 17.5% overnight in 1988 and having my flat go down in value by 40% between 1988 and 1995 fucking hurt. So we tightened our belts and got on with it. We didn't go running to the bank of mum and dad (didn't exist for either of us) or take out unmanageable debt.
I'm very well aware of the problems youngsters have today. The housing market is completely out of control and I can't see how our two sons in their 20s will be able to buy until we snuff it.
But I'm honestly getting a bit fucking bored with the snide remarks about how my generation had it so easy. In reality on the whole we just had less.

suprised so little debt is reported here . Maybe older with inheritance or benefited from the housing market
I'm older (60) but no inheritance, my mum and dad are busy spending it as I speak on kitchen renovations and fabulous holidays! My dad would cry if he had to le dale you a tenner!

We had a shed load of debt that sent my stress levels through the roof and made our marriage very strained about 20 years ago.
I know some people can manage debt well but I am risk averse and would rather go without everything but the basics to get shut if it it( abd i did) it was a long haul but once I got a significant amount if savings i felt like I could breath properly again.

Depending on why you had a terrible year,.it might be worth getting in touch with the credit card company.

I think in certain circumstances they can wipe charges, my bank did that for me when I was very unwell and started incurring charges but didn't realise due to my illness.

Those are only for people who earn plenty and have good credit,sadly. At the time I had no debt but.... also no credit history because of that and low income, none of the decent rate companies would lend to me,I was desperate not to become homeless with my son and ill. A lot of times it is not lack of financial education but having very few other options!

I have £4300 on a car loan, that is the only debt other than mortgage. I do have enough in savings that I could pay it off though. My job situation is very precarious at the moment, so I feel the need to keep large amounts of savings and live frugally.

We used to have very little money, and regularly be in our overdraft only comin just above zero on payday, we didn't borrow then on cc or loans as we knew we couldn't repay.

I tried, then offer no help, they just made a note id increase my payments once my boyfriend was discharged (I was having a lot of. I’m trying to get it moved to an interest free one but I keep getting rejected online.

My boyfriend told me to go in person because I have a lot to back me up but I’m so embarrassed 🙈 I should never have let it get to this point.

I'm in the fortunate position of being debt and mortgage free.

I am on UC, never had a mortgage before, only 800 credit score and got a 0% for 6 months credit card. Try capital one.

I’ve paid off my mortgage so I don’t owe anything. Now trying to build up savings as I would like to retire in about 5 years or so.

None. Nothing at all. No mortgage, no overdraft, no credit cards, no car finance, no loans, don't owe anything for utilitites. Nothing.

However, 25 years ago I was living up to the limit on my overdraft and couldn't pay the milkman. Couldn't get credit for anything, didn't have a house, didn't have a car, I had nothing.

£17K student loan debt. I’m never going to pay it back and have no aim to, so I don’t worry about it.

Zero. No mortgage, no car finance, no student loans. Credit card is paid in full every month as it's used for airmiles only. We will occasionally buy furniture on 0% interest free because why not? Debt terrifies me.

Our house is small, our cars aren't flashy and our DD goes to state school. We offered private but she didn’t want to go so that's left us in a very decent financial position.

This! I think the first few answers dictate everyone elses responses too tbh.

About 70k on the mortgage and vehicle loans that have about 10k outstanding. This is manageable, and we're relatively comfortable (with savings in the bank) but we're looking at options including selling off the vehicles (a car and a caravan), paying off the debt and having more free money on a monthly basis. Dh is ten years older than me and would like the mortgage paid off by the time he's 60 so he can slow down/ work fewer hours. So some of our savings will be spent on early mortgage repayments, then with extra monthly cash (from not paying the loans) we can do a few more of the 'fun' things. Or help the kids through uni or whatever they do in a few years.

Mortgage - £90k
Student loan - £12k, .
Credit card - £1.2k, but that's because it's 0% interest and I get loyalty card points for everything I spend on it, so I pay for everything with it. I pay off the whole balance every pay day, and then start accumulating debt on it again.

The student loan is never getting paid off, because I earn too little. The monthly deductions from my salary are always less than the monthly interest added to the loan.