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Original poster

Personal debt, not including the mortgage. How much is yours?

130 replies

nkf · 02/11/2008 14:47

Like many people in the UK, I'm working out how to get through the recession. I currently have one loan (taken to pay for a training course). £2,500. It feels bad enough. Have cleared credit card and am working out how not to go overdrawn this and every month.

How about you lot?

OP posts:

NewspiritsFromOldghosts · 03/11/2008 10:48

Approx £5k.
Made up of two loans. Will have paid both off by Nov next yr.
Also have a credit card but i pay that in full each month.

anniemac · 03/11/2008 11:11

This reply has been deleted

Message withdrawn

slug · 03/11/2008 12:42

Zero. Mortgage paid off as well. We did this by never buying what we could not afford and by refusing to have credit cards.

scampadoodle · 03/11/2008 12:52

Zero & no mortgage. In fact, the government owes us money as we had our savings in Icesave.

kingprawntikka · 03/11/2008 12:54

Zero, apart from mortgage.

LoveMyGirls · 03/11/2008 13:00

Dp owes about 21k to his bank (this has accumulated over the years and has paid for pretty much everything we own, we've had rubbish luck with cars which is the main problem, also a lot of that is interest we actually borrowed 14k) though this isn't great we wouldn't have been able to survive without this loan, I know it will get paid off one day when our dd's are older and I can earn more until then we pay the monthly amount so it feels like it under control.

My overdraught is currently just over 2k overdrawn but i'm hoping to sort that out by xmas.

OrmIrian · 03/11/2008 13:01

A small loan that is due to be paid off in January. We will end up with about 300 on a credit card for Christmas that will be paid off by Feb.

Nothing else.

PeachyFizzesLikeADampSquib · 03/11/2008 13:10

As a couple, zero. We're terrified of it. We do make payments but the entire acocunt balance (interest free, we never take out interest loans) is put away in entirety (eg for therapies) before we start.

PeachyFizzesLikeADampSquib · 03/11/2008 13:11

(I dont count my stuent loan, irrelevant when I cannot work)

pagwatch · 03/11/2008 13:21

I don't have any debt. I have not used a credit card since I got into trouble with one aged 17. FANTASTIC lesson that was.

We have always tried to live within our means even when we had virtually no money but we never had no money at the same time as we had kids. Ithink it must be so much harder to be really severe and resist spending when you have children.
We have a biggish mortage on one house but paid cash for home abroad so we could sell one to pay off the other if need be.

Having been poor all my life and the only one at home with my mum when we were finally evicted ( aged 15) I have an obbsessive thing about not being in debt to anyone. TBH although we are probably what mpost would call rich I doubt I will ever forget my belongings stacked up onthe pavement and will never really feel 'safe'.

fossa · 03/11/2008 13:28

About £4000, bank loan from about eight years ago. Roughly the same again in student loans, which doesn't count .

DH, big scary amount as royally screwed in divorce (fingers in ears singing la-la-la emoticon).

£90k mortgage.

ingles2 · 03/11/2008 13:32

quite a big mortgage and a £6K loan for the car. no credit cards though.

prettybird · 03/11/2008 13:33

All we have is £12,835 left on our mortgage. We do use our credit cards heavily - but only as a form of cash and pay them off in full every month.

Dh got a package a few years ago from his old job and we were able to use that to pay off the majority of our mortgage (deliberateyl left some so that we have the flexibility to draw it back down again should we need it for his business).

SInce then I have been the sole salary earner while he a) studies to be an MW, b) sets up a business, c) takes on the majority of the child care responsibilities d) sriggles to keep the "out of school care" service afloat as chair of its manangement comiittee and e) is generally a superman

'cos he is a squirrel and has a view is that savings are for spending in the good times mean that even though I am pontetially facing rednundnacy as my company has been taken over by a much larger one means we are (relatively )relaxed about the prospect.

anniemac · 03/11/2008 13:34

This reply has been deleted

Message withdrawn

2point4kids · 03/11/2008 13:34

Ours sounds worse than I think it really is.

We've got 2 mortgages, totalling about 400k

2 overdrafts of 10k each! One is about to be paid off when DH gets paid a bonus he is owed. The other is in an account that offers us an interest free overdraft so we're not paying for it (and have savings elsewhere earning interest).
DH has a credit card that gets paid off every month in full
I owe about 2k in student loan but am not working so am not required to pay it back.

Total debt excl mortgage prob about 25k

Soprana · 03/11/2008 13:35

Absolutely zero. Terrified of owing money, so have never borrowed (apart from mortgage years ago). Even the current mortgage isn't mine, but my DH's. Got stung by negative equity the last time round and have never plucked up the courage to do it again.

Simplysally · 03/11/2008 13:52

I've got 3 credit cards, 2 of which are 0% and one which isn't (they are quite small balances though) plus an interest-free graduate overdraft which I just pay £1/pm til I sort out the debts with interest. I also have a student loan which is being chipped away at each month to be paid back sometime never. No storecards and everything else I pay cash for. I'd only use my credit card for booking flights or a holiday just-in-case.

filz · 03/11/2008 13:56

I think the people with the highest debts will avoid this thread tbh

I have a 15k loan, no credit cards and a mortgage

do I win?

ggglimpopo · 03/11/2008 13:58

No debt, no mortgage, no ccs.

Quattrocento · 03/11/2008 13:59

I prefer to buy cars on lease arrangements and I still owe £18,000 on current car. Otherwise no personal debt.

Mortgages now, that's another story. We still owe a total of £210k.

MrsTittleMouse · 03/11/2008 14:00

No debt here, no mortgage (although that will change in a year or two) and we pay off the credit cards each month.

girlandboy · 03/11/2008 14:00

Zero, and paid mortgage off years ago.

I have a fear of owing money. Don't have a credit card. Only buy what I've saved up for.

carmenelectra · 03/11/2008 14:01

Everyones looks small compared to mine

When i was at uni i lived my life as though i was earning and am now paying the price. I dont live that extravagantly now and myself and dp have good jobs though you would never believe it cos our outgoings are so much!

i have about £3500 in credit cards and about £1250 in store cards. Personal loans x 3 equal probably £20 grand. Then dp has cc with abot £3 grand owing. Our mortgage is very very small but that doesnt help one bit as we sure as hell made up for it with personal debt.

Pisses me off now

carmenelectra · 03/11/2008 14:03

God i forgot student loans!! Thats another 4 grand

Judy1234 · 03/11/2008 14:16

No one has yet beaten my over £1m mortgage debt (which is really a divorce debt because of what I had to pay out). So am I the worst off person in mumsnet?

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