I found out yesterday that my brother‑in‑law once had around £50k of debt.
He lives quite far away so we don’t see him often. He’s in a houseshare in a fairly inexpensive town (<£500), has a decent job (around £40k), and also works weekend shifts as a bartender. He’s my partner’s older brother.
He’s never been great with money and only moved out at 29 (he’s 35 now). He used to spend quite a bit on things like mobile games. He was in a relationship for a while, and his ex apparently had expensive taste — big TV, pricey leased car, that sort of thing. When they split, he moved out but kept the car.
A couple of years ago he was diagnosed with depression and began self‑harming. My partner and his mum went to see him and encouraged him to move back home, but he wanted to stay where he was because he was under the care of that health trust and seeing a professional. Things seemed to improve, and we knew he’d been trying to save for his own place.
He visited yesterday, he’d travelled six hours by coach because he sold his car, and that’s when my partner found out the full extent of the debt. £50k in total, between the car lease and spending on credit cards during the worst of his depression. There’s nothing really to show for it, which I suppose is part of what shocked me.
To his credit, he’s dealing with it now. He’s paid it down to £10k and is working 6–7 days a week to clear the rest. I think I was just taken aback by how strongly mental health struggles can affect someone’s ability to manage money.