View Full Version : Peoples avrage debt?
MattBrown
27-02-09, 12:22 AM
Random I know, seeing as the country is on its ****, I thought I would ask how much debt, excluding mortgages people are in?:thumb:
thats abit personnel aint it. plus i guarentee everyone underestimates. also your poll doesnt go high enough as technically a mortgage is dept
MattBrown
27-02-09, 12:27 AM
Unsure if its personal?
Didnt really think!
Will remove!
xxspudxx
27-02-09, 12:32 AM
no debt for me, but still living with the parents and managed to save a fair bit including building the nova, but have just bought my own house (offer accepted last week) so down hill from now on :thumb:
I vowed NEVER to use plastic again after my student days and thankfully am at present debt free - not counting the motrgage of course.
Biggest fecking mill stone there is
Make a point of sticking away a couple hundred each month for "emergencies" - striaght out the account when my wages go in so dont even notice it gone.
MattBrown
27-02-09, 12:41 AM
Im only on 10kish, apprentice automation engineer, so atm only put £100 a month away!
One of the few who does at 17!
xxspudxx
27-02-09, 12:44 AM
I vowed NEVER to use plastic again after my student days and thankfully am at present debt free - not counting the motrgage of course.
Student loan??? do they count really as cant you pay like 5 quid a week off of it?
guessing he used plastic (credit card) to buy what he wanted after student loan ran out, over 3k a year might sound like a lot to get for 'free' but if you're not doing part time work on top, which isn't always possible it doesn't go very far at all !
Or, possibly a student before the student loans were available? I have absolutely no idea when the whole scheme started to be honest.
brainsnova
27-02-09, 01:04 AM
i have none and never had,want or need a credit card. if you cant pay cash then dont buy it, excluding a morgage ofcourse.
Student loan??? do they count really as cant you pay like 5 quid a week off of it?
LMAO if only!!!!!!! for me its about £150 a month, but thankfully its mostly paid off now.
General Baxter
27-02-09, 07:37 AM
iv got **** all dept anymore lol
but if i add the patrols HP onto it lol
Student loan??? do they count really as cant you pay like 5 quid a week off of it?
Its collected by the tax office, and done by how much you earn. If you're under 15k, then it will just sit there not being paid of and racking up interest. Ok, 2% or whatever isn't much, but when you realise the average debt from a 4 year degree is around £12k...
but if you're not doing part time work on top
Lazy student bums, my ex didn't get a job when she went to uni... then wondered why she never had any money. By the time she realised all her working friends had enough cash to go out partying at the weekends it was too late, all the student jobs had been taken up... by students. The last thing she did was scab a cheap holiday off my back :roll:
I certainly wouldn't get credit again, I've had some form of debt since I was 18 (which I'm on target to pay off this year, at last). Also a student loan too which, like stu, takes a lovely chunk out of my wages each month.
I didnt work during uni :D but I did graft my ass off in the easter and summer holidays doing 100 hour weeks on the harvest etc. Didnt need any more money there after so could be lazy for 9 months lol.
lol when I were at Uni Student loads were pointless. The most you could take out in total was £450 at a time and you could only get 2! So my sum total debt was £900!
Defered it for a couple of years then paid it off.
Credit card wise was after Uni - mainly to pay for my 1st Nova (typical)
thats abit personnel aint it.
If you don't want to answer it, don't.
I'm not fussed who knows how much I owe, as long as they don't know how much is in my current account :D
Iv never had a credit card and wouldnt get my self in any debt as its not worth it,if there is something I really like but might not have enough money for it at the time then I save money to put towards it.
MattBrown
27-02-09, 02:36 PM
Brainsnova and Emmmy
Rep coming your way!
As far as I can see, Debt is not needed, if you want something work harder to get it, buying and selling is the reson I have so much disposable cash!
ahh dont really owe much, somthing like £350 lol, but im not working so its abit poo! plus my bike insurance keeps my debt going up each month lol, but £26 a month is nothing really right? since all my mates my age mostly owe around 2k ish and were all 17
MattBrown
27-02-09, 02:50 PM
No probs emmy:thumb:
Im the wierdest teenager going aparentlylol
Do:
Work hard
Play with cars and bikes!
Dont:
Drink
Drugs
Smoke
Shag about:roll: :roll:
And its always good to see peoples opinions!
yeah same here mate, dont smoke, dont really drink, no drugs! not working yet in these hard times lol, and acctually look forward to going back to college to do a mechanics course and get some more qualifications
As far as I can see, Debt is not needed, if you want something work harder to get it, buying and selling is the reson I have so much disposable cash!
Not always the case. 0% interest loans used to be a great way to earn some free money - take out the loan, whack the money into a high interest account then return it before the 12 month grace period was up. Et voila, almost 12 months worth of interest on free money.
This was back in the day when an ISA could earn you a nifty £200+ interest a year though. And loan companies got wise, hence why you very rarely get interest free deals for any more than 6 months.
No probs emmy:thumb:
Im the wierdest teenager going aparentlylol
Do:
Work hard
Play with cars and bikes!
Dont:
Drink
Drugs
Smoke
Shag about:roll: :roll:
And its always good to see peoples opinions!
Sounds like your a proper gent ;)
debt may not be needed but its soooo tempting lol. i was in a secure job comming out with £1400 a month but want to get my project underway so took out £2k which against my income was nothing but it was a lump some to get ordering parts. if i knew i would be out of a job 2 months later i wouldnt have taken the loan but **** happens
kelbelle
27-02-09, 03:09 PM
When I finished my degree this summer I think i will be in about £15k debt but other than that no debts. Then again I live at home so its hard to find something to wrack a debt up on!
No, Im not a typical student either. Dont drink, smoke or do drugs and have been in a steady relationship since i was 18. Only go clubbing maybe once a month if that. And still my dads not happy! pfff
MattBrown
27-02-09, 03:18 PM
Sorry to hear it burgo!
Emmy? lmfao! Me a Gent? lol yeah I am sort of, the gf has to come round and work on constant cars, bikes, rc cars, every concievable toy!
She's a keeper FTW lol
Cant get em like she is, only one downside! Doesnt drive, or like motorbikes
I didnt work during uni :D but I did graft my ass off in the easter and summer holidays doing 100 hour weeks on the harvest etc. Didnt need any more money there after so could be lazy for 9 months lol.
That's the way to do it!
Feck having a job at uni, I can't think of anything more ridiculous.
Aint read all the thread but,
I have no debt, and dont plan on getting any(apart from a mortgage in the future)
If i want something i'll save up for it and buy it, instead of living above my means. :)
I was an apprentice doing mechanics. Never had enough money to do what i wanted, found a car i wanted so took a loan out for 1500 to buy it. Didnt end up buying because the guy backed out so spent it all on my nova :(
2 months later i sold the nova lol
Also have about £1700 in snap-on tools, took an extended loan for a holiday last year so probably in about 3.5k of dept. Now im qualified im going to be paying it off quicker but doesnt help havnig the nova!
I dont really regret it though, being an apprentice it was hard to save while my mates were all pulling me out clubbing etc. Helped me do what i wanted while i didnt earn much money
i think im in about 18k, from uni.
dont have any other loans apart from that and totally disagree with credit cards,your spending money you dont have.
and i think i live a good life with a small amount of money, but if i want something i work to get it and then appreciate it more. or i sell some stuff to juggle money.
I made the massive CC mistake when I was 18 and racked up a massive £10,095 in personal debt. Come the end of 2009 I will be way on track to completly debt free.
I wouldnt owe a penny if I had actually started paying back said personal debt between being 19 & 21 but I spent a lot of time at that age elsewhere so all my accounts were froze, referred to collectors, and, subsequently had 0% interest rates added which still apply now :thumb:
EDIT: BUT saying all that, when I was 18 to 19 I worked for egg.com earning a massive income for my age, so repayments were not an issue at all. Since I got laid off from there, thats when it all went fubar for a couple of years lol
a lot and i enoyed every penny of it :thumb:
All these people who shun credit cards & loans, I'd hate to see your credit ratings lol
All these people who shun credit cards & loans, I'd hate to see your credit ratings lol
Yep :thumb:
i really need to get my credit report and see exactly what i owe and to who, im hoping to clear it this year then buy my own place next year
last time i got a report, when i was 21 iirc it was terrible lol
I've never had a credit card or loans and credit check came back fine on me to rent a house at £700 per month so poor credit rating from never having debt seems a bit of a myth to me.
Agreed, i've never had a c/c or loan, had no trouble with first mortage of 100k plus, or any re-mortage since.
It's more to do with the availability of cash i believe, ie if you were up a brown creek without a vaguely spoon shaped wooden instrument you can stick it all on the credit card until your next wage payment or whatever, making your credit rating, which i always read as a rating of the 'credit' available to you if that makes it clearer, higher.
Could of course be talking bollocks because I have next to no interest in business or finance, I just spend the stuff lol
kelbelle
27-02-09, 09:01 PM
How do I go about getting a credit report?
How do I go about getting a credit report?
Try Experion or similar Kel, IIRC they do free credit reports for 30 days or something. Maybe there's a catch though lol. never looked into it.
After I pay the kid for the Sunday Paper I'm debt free lol. Hope he doesn't break my thumbs.
It's more to do with the availability of cash i believe, ie if you were up a brown creek without a vaguely spoon shaped wooden instrument you can stick it all on the credit card until your next wage payment or whatever, making your credit rating, which i always read as a rating of the 'credit' available to you if that makes it clearer, higher.
Could of course be talking bollocks because I have next to no interest in business or finance, I just spend the stuff lol
Almost, credit ratings are a guide to the banks of how good you are at repaying stuff. Consider it like no claims bonus on insurance - if the credit agency can see that you've had credit in the past, never missed a payment and kept on top of things, it proves to them you're a safe bet. Not saying you won't GET credit with a 0 score, but I can happily place money on the rates being lower overall if you have a decent score.
However, the cynic in me also thinks that those people who've been in debt for a long time also get a good score - as the banks know they can make loads off you in interest lol
Lee, John; you've never had mobile phones or landlines on contract? Home internet connection? Arranged an overdraft with a bank (even if you never used it and/or were given it automatically)? Those are considered credit in the financial world.
Monthly car insurance is also credit.
You can attain a high credit score from simply have a basic current account that your wages is paid into :thumb:
I have a mobile phone contract and thats it. Car insurance is paid all at once when policy is taken out, internet in folks name etc.
General Baxter
27-02-09, 10:40 PM
Aint read all the thread but,
I have no debt, and dont plan on getting any(apart from a mortgage in the future)
adam is now a bank, i owe him £210 lol
smcgsi16v
28-02-09, 12:05 AM
Except for my morgage, I owe £125 on my credit card and that's all, which will be paid next month when the bill comes.
The most I've owed was +£13000 about 5 years ago.
Sorry to hear it burgo!
Emmy? lmfao! Me a Gent? lol yeah I am sort of, the gf has to come round and work on constant cars, bikes, rc cars, every concievable toy!
She's a keeper FTW lol
Cant get em like she is, only one downside! Doesnt drive, or like motorbikes
You seem nice and you appreciate your gf sounds perfect to me :p
No probs emmy:thumb:
Im the wierdest teenager going aparentlylol
Do:
Work hard
Play with cars and bikes!
Dont:
Drink
Drugs
Smoke
Shag about:roll: :roll:
And its always good to see peoples opinions!
I do everything apart fromn the drugs and smoke :D
I'm in debt to the tune of €137,000 but from that we got a house Valued at €360,000 so I reckon I'm doing alright.
MattBrown
01-03-09, 01:58 PM
Tah emmy!
Tut Tut jay!
And Dod, can't be bad if you can sell it!
I dont want to sell it. lol
Tah emmy!
Tut Tut jay!
And Dod, can't be bad if you can sell it!
;) :thumb: xx
The Simps
01-03-09, 05:26 PM
My old Audi loan put me in the 25-50k bracket straight away!! lol
You have to remember that debt is all relevant to what someone earns aswell. A £10k loan to someone earning £12k is different to someone earning £120k pa.
I've had a fair bit in the past but now the audi is gone and I make some final payments next month on credit cards I'm all clear except a funking great mortgage!!
The Simps
01-03-09, 05:27 PM
oh, does money you owe your olds count?! lol
euro sbd
02-03-09, 12:29 AM
i owe abut 12k but lucky im in a job where i can pay it no problem, well i shouldnt speak to soon with the way things are going lol
Asa-James
02-03-09, 12:55 AM
i currently owe about £2200 on a loan and about £400 on credit cards (bouncing about earning no interest) so i'm not too far gone.
£2500 loan on a flat my ex screwed me out of 2 year ago...and currently £60 to the plod lol
£14.5k student loan paying £60 per month, £1200 on student overdraft paying £50 per month and £240 on credit card which will be paid tomorrow!!
When the credit card is all payed off its for emergencies only, would dread to add up all the money I've wasted on it over the past 4 years.
The Simps
02-03-09, 08:16 AM
Another question:-
Anyone who has got any debt, in the last 6 months - have you had either your bank/credit card write to you to inform you that your overdraft or credit limit was to be reduced?
Another question:-
Anyone who has got any debt, in the last 6 months - have you had either your bank/credit card write to you to inform you that your overdraft or credit limit was to be reduced?
nope, they keep writing to me telling me they are extending the limits :tard:
Same here, although they did write to me once last year to say I'd not paid anything in for ~6 months and I should come in and have a chat to see if the products they were providing were suitable for my needs lol
I'm always wary about having equity tied up in physical stuff, i.e. houses. Its only worth anything once you've sold it and have the money in your pocket, OR if you're leveraging money with banks. Saying my house has been valued at xyz is all well and good, but you don't actually HAVE that money... its only theoretical cash.
The Simps
02-03-09, 09:06 AM
I've lodged 2 complaints with Barclaycard in 2 months!
When I got rid of the Audi I needed a car quick (this was back in Jan) so was going to put on my credit card for a couple of months until March when I knew I'd have the cash coming in to clear it. We're only talking £1700 here btw.
The garage advised me they would add 2.5% handling fee for using a credit card. I suddenly remembered I was once given a cheque book by Barclaycard years ago and managed to dig it out. I phoned Barclaycard and told them exactly what I wanted to do as I wanted to avoid the 2.5% charge. Although the cheque book was dated 2002 I was advised it was still valid so went ahead and used it.
Then my statement came through....
They'd charged me a 2.5% cheque handling fee and put it down as a cash advance not a puchase. Th cheque was made out to a garage NOT an individual btw.
Naturally I phoned and complained. I was refunded the 2.5% fee and they apologised that I was badly advised but would not change it back to a purchase as apparantly "it cannot be changed".
I wrote in a snotty letter, of which I have had no reply until...
I go to use the card last week for petrol knowing there was more than enough credit left (had a statement from 2 weeks ago telling me!) only for it to get rejected. When I phoned Barclaycard again they said it was because they'd decided to decrease my limit the day before of which they had advised me of in writing. When I asked when the letter was sent they said "this morning".
I'm going to be glad to clear the card and close the account this month. I used to do a lot of business with barclays and over the years the service has gone from poor to shocking!
they'd decided to decrease my limit the day before of which they had advised me of in writing. When I asked when the letter was sent they said "this morning".
Thats certainly worth chasing up with the financial ombudsman.
The Simps
02-03-09, 10:40 AM
I would do if it wasn't for the fact I'm clearing it and closing the account this month anyway, but they wouldn't do anything anyway, this is the problem, there's no real regulation. At best they'd get a slap on the wrist for poor communication/customer service. God hope the Tories don't get in as they want greater de-regulation!
I fell out with Barclays around 6yrs ago. I was being paid fortnightly by cheque back then earning good money. I never had an overdraft and had a savings account with them with several thousand in. I kept very little in the current account and swept everything over.
One fortnight I was going to be getting a late wage payment because one of the girls in the office forgot to order a new cheque book :tard: . I went to Barclays and asked, as a precaution, if they could give me a temporary overdraft of £500 for the week, just in case, rather than suffering the notice penalty on my savings account. They declined me which was annoying but I put it down to cautious lending.
The following friday I go into the branch with my very healthy pay cheque and get pulled to one side where I'm then offered a 100% pre-approved loan of up to £25k :roll: .
I withdraw all my savings closed my accounts, and walked away from the bank there and then and started up with the Co-op bank.
I now owe £107 less as Ive just paid, of all people, Barclays lol even though there theiving @unts!
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