Daimo B
Member
Registered: 20th Mar 00
User status: Offline
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I am in no debt any more.
Just my house, but thats worth more than I owe.
I got debt free for the first time since i was 19 about a year and a half ago.
Getting a car and getting a loan for it was the worst thing I ever done and screwed me up for about 8 years of my life.
[Edited on 09-04-2010 by VXR]
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3CorsaMeal
Member
Registered: 11th Apr 02
User status: Offline
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quote:
Originally posted by VXR
Just my house, but thats worth more than I owe.
[Edited on 09-04-2010 by VXR]
May as well spend the profit now then 
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Daimo B
Member
Registered: 20th Mar 00
User status: Offline
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And have no house to live in.
Indeed, that would be a smart move.... 
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ste_p23
Member
Registered: 29th Dec 08
Location: Hindley,Wigan
User status: Offline
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Im currently in about 7.5K worth of Debt to student loans as im 2nd year of a degree
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Adam_B
Member
Registered: 13th Dec 00
Location: Lancashire
User status: Offline
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In credit by a couple of hundred quid. Didnt bother with a student loan as thought i can always sell my car if things get iffy, year and a half in its working well 
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Ian
Site Administrator
Registered: 28th Aug 99
Location: Liverpool
User status: Offline
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Debt of course, same as anyone who has a mortgage. You can't claim that it's somehow not debt just because you can offset it. If that were true I would hope everyone is in credit by a long way as most of what you buy has at least some value.
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adiohead
Member
Registered: 28th Sep 01
User status: Offline
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quote:
Originally posted by Ian
Debt of course, same as anyone who has a mortgage. You can't claim that it's somehow not debt just because you can offset it. If that were true I would hope everyone is in credit by a long way as most of what you buy has at least some value.
my fiancee does that 
It's still debt 
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saj_123
Member
Registered: 6th Jan 09
Location: Berkshire
User status: Offline
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Debt for me around 6k student loan debt and I am only in my first year and I am 19, finish with something like 20k debt.
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Generation
Member
Registered: 7th Jul 09
Location: Essex
User status: Offline
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I'm £200 in debt, that is just an overdraft though TBH
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Daimo B
Member
Registered: 20th Mar 00
User status: Offline
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You owe the money, but if the property is equal or more its an investment so not actually a debt. So yes I can claim it.
And no, not everyone is in this situation otherwise there wouldnt' have been thousands of homes recovered becuase people cannot afford to get another mortage on their property. Mostly becuase the house value has dropped to negative equity, or people got mortgages that they could never really afford to pay back (as in borrowed more than they can afford).
I do not look at my mortgage as a debt, I look at it as an investment.
[Edited on 09-04-2010 by VXR]
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A2H GO
Member
Registered: 14th Sep 04
Location: Stoke
User status: Offline
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I think some people are lieing, the poll definately does not reflect the majority of the UK either way.
I am in debt, but then i'd rather have a nice car and my own house than not be in debt and have nothing. In 25 years time ill have a house and a car(probally not the same ones) and no debt so it will be worth it.
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A2H GO
Member
Registered: 14th Sep 04
Location: Stoke
User status: Offline
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quote:
Originally posted by VXR
You owe the money, but if the property is equal or more its an investment so not actually a debt. So yes I can claim it.
And no, not everyone is in this situation otherwise there wouldnt' have been thousands of homes recovered becuase people cannot afford to get another mortage on their property. Mostly becuase the house value has dropped to negative equity.
I do not look at my mortgage as a debt, I look at it as an investment.
I agree, if my 'assets' were worth less than my 'debt', thats when id start shitting myself.
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Budgie
Member
Registered: 2nd Dec 09
Location: Basingstoke
User status: Offline
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debt  still got a couple of grand left on my car loan
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Ojc
Member
Registered: 14th Nov 00
Location: Reading: Drives : Clio 197
User status: Offline
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Of course people are Ash, people are so full of shit on here when it comes to these kinds of threads
I have around £600 on a credit card but then I have the means to pay it off from savings but seeing as the CC has just had a balance transfer from another card and is 0% on that transfer for 15 months whats the point in paying it off.
Oh and we pay the Astra insurance off monthly this year for the first time if that counts.
People pretend to be do gooders and brilliant money wise on here but I don't believe it, either that or those in massive debt don't post.
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Daimo B
Member
Registered: 20th Mar 00
User status: Offline
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quote:
Originally posted by CorsAsh-Sport
I think some people are lieing, the poll definately does not reflect the majority of the UK either way.
I am in debt, but then i'd rather have a nice car and my own house than not be in debt and have nothing. In 25 years time ill have a house and a car(probally not the same ones) and no debt so it will be worth it.
I agree, I see people I know who arn't on "great" wages who drive around in brand new Mercs and BMW's, when I know they can't reaaaaalllly afford them unless some magic money has appeared.
But these are the kinda people who don't want to loose face as well, so would never admit to the debt.
Im happy to say I was in debt, as i'd like to think I can scare people off getting into it Despite huge warning from my dad, and huge rows, I look back knowing he was right, and how much it financially ballsed me up.
But then again, I can't stand it knowing that I got myself out of debt, yet so many skivvies seem to have like a load of debt, and get government help to clear the debt, paying like £1 a week. So they got the fun without the hassle Im gutted i missed out on this kinda stuff, £1pw for life, that would rock
Bit like you students having a bugger all interest rate on your student loans.
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mattk
Member
Registered: 27th Feb 06
Location: St. Helens
User status: Offline
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quote:
Originally posted by Dizzee Rascal
People act shameless
Tryna live like entertainers,
Want a fat crib with the acres,
So they spend money that they ain't made yet,
Got a benz on tick that they ain't paid yet,
Spend their pay cheque
In the west end on the weekend
Got no money by the end of the weekend.
But they don't care cause their life is a movie,
Starring Louis V, paid for by yours truly,
Truthfully, it's a joke, like a bad episode of hollyoaks,
Can't keep up with the cover girls,
So they got bad credit livin' on direct debit,
Livin' in debt but they still don't get it
Cause they too busy livin' the high life, the night life
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Ojc
Member
Registered: 14th Nov 00
Location: Reading: Drives : Clio 197
User status: Offline
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That's gonna be my Facebook status to reflect what I think of a certain twatish couple who live their life like that
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Whittie
Member
Registered: 11th Aug 06
Location: North Wales Drives: BMW, Corsa & Fiat
User status: Offline
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quote:
Originally posted by CorsAsh-Sport
I think some people are lieing, the poll definately does not reflect the majority of the UK either way.
I am in debt, but then i'd rather have a nice car and my own house than not be in debt and have nothing. In 25 years time ill have a house and a car(probally not the same ones) and no debt so it will be worth it.
The poll is fucked though, it was 5 votes to 5 before i clicked back on 2 seconds later and credit had 30 votes.
Fucking shit, the polling on this forum
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Nick-S
Member
Registered: 3rd Mar 04
Location: Leigh. Drives: RS Megane 230 F1 Team R26
User status: Offline
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I owe about £400 on my credit card.
But a mate of mine owes me about £600
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daymoon
Premium Member
Registered: 1st Aug 08
Location: Selby, North Yorkshire
User status: Offline
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Credit.
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deano87
Member
Registered: 21st Oct 06
Location: Bedfordshire Drives: Ford Fiesta
User status: Offline
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Debt.
Student loan - about £18k - I plan to pay it off how the Government see fit.
Credit card - about £1k interest free - plan to pay off before interest free runs out, or do another shuffle.
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harrisp
Member
Registered: 15th Dec 07
Location: Derbyshire
User status: Offline
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I owe my missus £800 but will pay that off when I sell my other car
Got about a hundred in the bank, so in debt sort of.
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Colin
Member
Registered: 4th Apr 02
User status: Offline
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Car finance & a mortgage.
Its not a concern at all though!!
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3CorsaMeal
Member
Registered: 11th Apr 02
User status: Offline
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quote:
Originally posted by VXR
And have no house to live in.
Indeed, that would be a smart move....
i was being sarcastic, thats the thinking that got the banks/economy into so much trouble
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daymoon
Premium Member
Registered: 1st Aug 08
Location: Selby, North Yorkshire
User status: Offline
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I just don't understand how people come into debt ( not counting student loans/mortgages)...
Even though i live with parents and have no real outgoings i still pay for everything myself. Uni fees, running costs of car, clothes, anything i buy for myself tbh...
Yes i have full time Job, but i save quiet hard too, try to put aside at least 100 a week..
When i had no job last year i was just sat at home all the time watching TV and stuff, not going out simply cos i couldn't afford it... At age of 16 whn i worked 4 hours a week + any school holidays, managed to save up for my driving lessons and a PC + car ( even though it was a 500 banger).
I JUST DON'T GET IT!!!
Local colleges should do money managment courses TBH....
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