How Much Do You Owe in Credit Card/Store Card/Loans

[MoreSpamThanGlam]

Have had a few conversations about this over the weekend.

Some were staggering, but "justified" because they are on a high income. Others were low, regardless of high income. 1 was no debt whatsoever (she is the most calm and non materialistic funnily enough).

I had 1 friend that was mortified to admit she owed £5k over 3 cards and had a long term well paid job and was losing sleep over it.

Mine? Ive just filled in my Bankruptcy forms....

I have about £2,400 to pay off in a loan.
It'll be finished in a year and then I'll be debt free!!
Taken me years to do it though.

Just a mortgage
Dh has a credit card though but I'm not sure what is on that
Our joint account is often in overdraft until payday comes round but nothing too major

Just under £2000 but we manage to pay it, would be better without it though.

Thats fantastic PC. I really admire you.

My debts were a mixture of greed, bad luck, dopey dh and sheer stupidity. ive been living on a tight budget for 1 year now and no chance of ever getting another card or loan, so it shouldnt be too bad.

Not much for anyone then. im surprised really.... unless some would rather not say.

About 227K but that includes mortgage I try not to think about it. It maskes me feel sick.

don't worry, they'll be more on here as the evening goes on I bet!

I owe my mum a grand interest free.
About 2 grand on my sofa and thats it.

around £17K inc car, no mortgage as we aren't eligible.

Just had debts taken over by IVA ppl

It's taken me years to get there Glam.
Mine was a mixture of a lack of impulse control(!), not adjusting spending habits when I had Ds and gave up work and then I had to use cards for essentials when XP upped and left.
When I took control again and started to get things managable, I owed almost £10k.
I'll be out of debt when I'm 30. I'm going to get a prepaid credit card for Football ticket, concert tickets etc but no more loans or store/credit cards.

About 2k and the mortgage I think

I owe nothing. Save up for things I want.

Cut up all my cards, no overdrafts, storecards or loans.

It's one of the best feelings in the world.

Pretty big mortgage here but no store cards. We have a credit card that we pay off every month because we pay less interest on that than we earn on our savings account. We did have student loans but we've paid them (all!) off now. I'm just not comfortable with debt!
If you can afford the repayments and don't mind being in debt I personally don't see the problem with it.

I got myself into a financial pickle about 15 years ago took me 3-4 years to get myself out of bother.
since then have a credit card but it gets paid off in total every month
can never let myself miss a month otherwise I panic about a downhill spiral.
We have a joint mortgage
I have 2 savings acounts I put a small amount in each one covers our spending money for Holiday and the other covers birthday pressies and christmas pressies so the money for these doesn't have to come out of my monthly spend (ifkwim)

I don't panic about money normally but I don't want to go back to where I was - Glam you will be fine - clean slate learn lessons - all will be ok in the end

nuffink. We don't have a credit card or a store card. Got a mortgage though. But we're very low income.
Just don't buy anything unless we save first.

Big mortgage, have a credit card but hardly use it and am very good about paying off each month (having learned the hard way!). Wouldnt trust myself with store cards.

sorry you have to file for bankruptcy. Out of interest....does that make all the debts go away? How does it actually work?

Only a mortgage here. I was fairly bad at spending before I met dh. Now we only buy things whcih we can afford.

Why do you need to file for bankruptcy? Is an IVA out of the question?

Sorry you're having to do this - it's tough.

I owe around £500, scattered between Next account, store cards and credit cards. Am going to make an effort to pay them off asap.

Also have mortgage but it is small compared to most and hopefully will pay a lump sum off that in April.

I think living with dh all these years is starting to rub off, as I used to spend, spend, spend with no thought to whether I actually needed more 'stuff'.

I still like a good spend but I also keep track on how much is actually in the bank account first

only a small amount on mortgage, never had credit cards or store cards,

Until we bought our house 5 years ago, nothing, except to my mum but that was 'my inheritance in advance' as i started a business.
Now in addition to the mortgage we owe 13,000euros which we borrowed to start the work on the house and which has to be paid by September and meantime the mortgage is doubling because we borrowed to finish doing the house up. And i've just borrowed 19,000pounds off my mum and sister to pay the builder as we dont get all the money from the bank till the work is finished. Since we are about 25,000euros overbudget there wont be any left to pay them back. Luckily they are happy to wait.

I feel like selling the house and canceling our debts.....

what happens to your house in bankrucpy/ IVA?

hope you get sorted morespam, this might well be a clean slate and not a disaster...

BTW we have our own business but i'm still not sure how we are going to manage...