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You Credit Indebtment?  
User currently offline707CMF From France, joined Mar 2002, 4885 posts, RR: 29
Posted (9 years 5 months 2 weeks 5 days 16 hours ago) and read 945 times:

Or how much do you owe to various banks, credit companies, friends, parents... etc, and what have you borrowed money for ?

Starting with me, I'll say that I loathe the idea of spending money I do not have, so I tend to avoid credits like the plague.
Basically I consider that I should not get a credit for anything else than a house or a flat. For most of the other things, my philosophy is : "if I cannot afford it, then I probably do not need it."

As of now, the only money I owe is 250€ I borrowed from my parents when I bought my current car. (then again, I needed car).

What about your debts ?

Cheers,

707

21 replies: All unread, jump to last
 
User currently offlineDtwclipper From , joined Dec 1969, posts, RR:
Reply 1, posted (9 years 5 months 2 weeks 5 days 16 hours ago) and read 940 times:

$320K if you want to count a mortgage, car payments add up too. Credit cards, only about 2K a month, but I pay them off every month.

User currently offlineUTA_flyinghigh From Tunisia, joined Oct 2001, 6495 posts, RR: 50
Reply 2, posted (9 years 5 months 2 weeks 5 days 16 hours ago) and read 939 times:

My credit card debt is a big as your..., erm, anyway I have 0€ in debt with my banking institutions.

I think I owe some money to some fool in PAris but he never gets to calculating the amount of the pitite facture, so I'll guess I'just have to pay various hotels and thingies for the next meets we attend.

Other than that my house, my vehicles, my computers and camerhaas are all but paid for.

Cheers,

UTA



Fly to live, live to fly - Air France/KLM Flying Blue Platinum, BMI Diamond Club Gold, Emirates Skywards
User currently offlinePROSA From United States of America, joined Oct 2001, 5644 posts, RR: 4
Reply 3, posted (9 years 5 months 2 weeks 5 days 16 hours ago) and read 926 times:

My total credit card debt is about 20% of my gross annual income, which is a bit higher than I'd like but still quite manageable. I also have a car loan which should be paid off within 18 months. Finally, I have a small mortgage on a rental property which will be paid off within a month when I sell the property, if all goes well. I plan on using some of the sales proceeds, after paying the mortgage and sales expenses, to reduce my credit card debt; as best I can determine, that would knock down my total credit card debt to about 10% of my annual income, which seems reasonable.
All in all, therefore, my debt load isn't too bad, and should be going down soon.



"Let me think about it" = the coward's way of saying "no"
User currently offlineWanderer From United Kingdom, joined Oct 2004, 233 posts, RR: 0
Reply 4, posted (9 years 5 months 2 weeks 5 days 16 hours ago) and read 924 times:

I went bankrupt a couple of years ago due to credit cards and bank loans. Steer well clear of any of that stuff. If they offer it to you, then walk away - fast.

These days I owe nothing to anybody.


User currently offlinePROSA From United States of America, joined Oct 2001, 5644 posts, RR: 4
Reply 5, posted (9 years 5 months 2 weeks 5 days 16 hours ago) and read 921 times:

Quoting Wanderer (Reply 4):
I went bankrupt a couple of years ago due to credit cards and bank loans. Steer well clear of any of that stuff. If they offer it to you, then walk away - fast.

Under soon-to-be-enacted federal law, going bankrupt in the United States will become costlier and more difficult. While there are a lot of provisions in the new law, the most important one will require most people whose incomes are in excess of their home state's median income to repay a certain percentage of their debts over a 5-year period, rather than have the debts discharged outright.



"Let me think about it" = the coward's way of saying "no"
User currently offlinePilotJmartin From , joined Dec 1969, posts, RR:
Reply 6, posted (9 years 5 months 2 weeks 5 days 16 hours ago) and read 919 times:

I owe about $21,000 CDN to Credit cards, I have been bad with about 12 or so plastic devils in my wallet. I am now in the process of paying them off bit by bit.....this is a tuff battle.

User currently offlineMyt332 From United Kingdom, joined Sep 2003, 9112 posts, RR: 70
Reply 7, posted (9 years 5 months 2 weeks 5 days 16 hours ago) and read 912 times:

BOEING747-700, that sucks! Makes my debts look not so bad!

I owe £2270 on credit cards and £800 in tuition fees. Oh and £2000 for stupid car insurance.



One Life, Live it.
User currently offlinePilotJmartin From , joined Dec 1969, posts, RR:
Reply 8, posted (9 years 5 months 2 weeks 5 days 16 hours ago) and read 907 times:

Alex, I seem to have forgot about that too, I owe another $2,000 for my school loan, and then my monthly car payment of $507.20 and my monthly insurance of $150.00 and on top of that I pay for my cell phone $70.00, my satellite TV $100.00 and my Gym Membership $61.60 then I have to make the payments on those Credit cards.....I Think its time to get a second job.

User currently offlineMyt332 From United Kingdom, joined Sep 2003, 9112 posts, RR: 70
Reply 9, posted (9 years 5 months 2 weeks 5 days 15 hours ago) and read 902 times:

Ah that reminds me, my student loan! £3700 but that's no issue for the time being...I also have my phone, last bill was £103..I'm quite glad I've lost the thing now. Ahh life can be a bitch sometimes, how do we cope?


One Life, Live it.
User currently offlineAdam From United States of America, joined Jan 2005, 465 posts, RR: 0
Reply 10, posted (9 years 5 months 2 weeks 5 days 15 hours ago) and read 895 times:

I have more than $15,000 in credit card debt. Fortunately for me it is manageable.


Texas: You'll come for the Alamo, You'll stay because you were wrongfully executed. - Conan O'Brian State Quarters
User currently offline707CMF From France, joined Mar 2002, 4885 posts, RR: 29
Reply 11, posted (9 years 5 months 2 weeks 5 days 15 hours ago) and read 893 times:

Quoting Myt332 (Reply 9):
. Ahh life can be a bitch sometimes

Worse than that, sometimes she has puppies !!!!

Cheers,

707


User currently offlinePilotJmartin From , joined Dec 1969, posts, RR:
Reply 12, posted (9 years 5 months 2 weeks 5 days 15 hours ago) and read 892 times:

Quoting Myt332 (Reply 9):
how do we cope?

Well I tried Ebay but that didnt help the problem I think it made it worse LOL..... Sad


User currently offlineLuisde8cd From Pitcairn Islands, joined Aug 2004, 2571 posts, RR: 31
Reply 13, posted (9 years 5 months 2 weeks 5 days 15 hours ago) and read 889 times:

€3000 aprox. 2005 Ford Fiesta loan. Should pay it off by 2006.

User currently offlineFbgdavidson From United Kingdom, joined Oct 2004, 3706 posts, RR: 28
Reply 14, posted (9 years 5 months 2 weeks 5 days 15 hours ago) and read 871 times:

Wow, so much debt! Holding a balance on a credit/chargecard is a fools game although as a student myself it is scary what the credit card companies offer you! Thanks to loyalty on one particular card I have when it came to applying for a Mastercard the credit limit offered was insane. It is easy to see how people can rack up thousands on cards and loans.

I am fortunate enough my debt is currently zero, always pay off my credit and charge cards in full. As it stands I am owed several thousand including some from the Inland Revenue! Not sure whether I should frame that cheque or pay it in the bank  Wink



"My first job was selling doors, door to door, that's a tough job innit" - Bill Bailey
User currently offlineRyanb741 From United Kingdom, joined Mar 2002, 3221 posts, RR: 15
Reply 15, posted (9 years 5 months 2 weeks 5 days 14 hours ago) and read 860 times:

I owe about 11000 GBP on bank loans and another 4000 UKP on credit cards. Just finished paying off my student loan this month.


I used to think the brain is the most fascinating part of my body. But, hey, who is telling me that?
User currently offlineN5176Y From , joined Dec 1969, posts, RR:
Reply 16, posted (9 years 5 months 2 weeks 5 days 14 hours ago) and read 856 times:

I have $9000 in credit card debt but it's only at 1.9% and those $10,000 that I borrowed were put into a CD yielding 4.6%.

User currently offlineVSLover From United States of America, joined Feb 2004, 1897 posts, RR: 22
Reply 17, posted (9 years 5 months 2 weeks 5 days 14 hours ago) and read 859 times:

due to recent travels, my credit card debt currently equal 4% of my income, and combined with my 3-yr mortgage, my debt load is 500% of my income currently, but a quarter of my net worth, so i'm not sweating the credit cards.

User currently offlineBritish767 From United Kingdom, joined Nov 2005, 284 posts, RR: 21
Reply 18, posted (9 years 5 months 2 weeks 5 days 14 hours ago) and read 851 times:

I owe about £200 to 2 people for random things . I have a credit card, but am paying off everything I spend.

User currently offlineAsstChiefMark From , joined Dec 1969, posts, RR:
Reply 19, posted (9 years 5 months 2 weeks 5 days 13 hours ago) and read 833 times:

$125000 mortgage, $20000 student loans, $5000 credit cards. I hate thinking about it.

Mark


User currently offlineJetService From United States of America, joined Feb 2000, 4798 posts, RR: 11
Reply 20, posted (9 years 5 months 2 weeks 5 days 13 hours ago) and read 833 times:

For those that pay-off your credit card debt, make sure if you cut your cards up, you still retain the account. Having the credit line open is good for your credit rating.


"Shaddap you!"
User currently offlineAlcregular From , joined Dec 1969, posts, RR:
Reply 21, posted (9 years 5 months 2 weeks 5 days 12 hours ago) and read 834 times:

I have around £18,000 of debt, consisting of 2 credit cards, two loans, car credit and my overdraft. Al I have to show for it is my laptop and my car, which is my last thing I will pay off, in 4 1/2 years time. How I can't wait for the day. I also live at home with the parents as well. I've considered declaring myself bankrupt, but I couldn't do it, my brother did that last year. I just need a win on the lottery then i'll be happy.

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