MJFF88
Member
Registered: 30th Apr 08
User status: Offline
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TBF, what C2RL R pretty much summed up what I meant. I've always considered debt to be bad, if your paying it back regularly its just a bill therefore not a debt, to me. Thats what I meant.
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Ian W
Member
Registered: 8th Nov 03
Location: Wirral, Merseyside
User status: Offline
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About 4k for a car loan, could clear it with my house deposit savings but its not having a massive impact at the minute, might as well just let it run to the end.
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Ojc
Member
Registered: 14th Nov 00
Location: Reading: Drives : Clio 197
User status: Offline
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Lots of heros in here.
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P1CK4D
Member
Registered: 19th Jun 06
Location: Around Essex Somewhere
User status: Offline
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quote:
Originally posted by Ojc
Lots of heros in here.
Your my Hero
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Ant
Member
Registered: 12th May 02
Location: Hereford and Worcester
User status: Offline
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tons lol and im paying the price! have learnt my lesson though and i wond do it again once its cleared
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DannyB
Premium Member
Registered: 6th Feb 08
User status: Offline
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I'm not in debt at all, I owe my mum and dad thousands, probably 20k+ but I don't count that as a debt as they've never asked me to pay them back.
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Pablo
Member
Registered: 3rd Feb 03
Location: Milton Keynes
User status: Offline
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quote:
Originally posted by DannyB
I'm not in debt at all, I owe my mum and dad thousands, probably 20k+ but I don't count that as a debt as they've never asked me to pay them back.
I could never borrow money off parents unless I knew Id pay them back!
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Jambo
Member
Registered: 8th Sep 01
Location: Maidenhead, Drives: VXR Arctic
User status: Offline
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quote:
Originally posted by Ojc
Lots of heros in here.
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DannyB
Premium Member
Registered: 6th Feb 08
User status: Offline
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I never 'borrowed' all of that, they've just been generous. The times I have borrowed I've gone to pay it back and they've just said it doesn't matter, they were just happy I offered to pay it back.
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lil_g
Member
Registered: 29th Oct 06
User status: Offline
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Over 10k 
All Uni loans for tuition though.
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Ojc
Member
Registered: 14th Nov 00
Location: Reading: Drives : Clio 197
User status: Offline
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What the fuck is wrong with borrowing money to buy a car, do up a house, go on a round the world trip etc? I've borrowed thousands over the years, I've paid back every penny and I've never been worse off for it.
There seems to be some very disturbing views on having personal loans/credit cards.
If none of you have debt, and never have, do explain to me how you intend on getting a mortgage in the future?
You are a lenders worst nightmare.
[Edited on 17-03-2009 by Ojc]
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lil_g
Member
Registered: 29th Oct 06
User status: Offline
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I'd quite like to borrow money to build up my credit history. Finding places that do it is hard for people without a history atm though 
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stubbsy05
Member
Registered: 23rd Oct 02
User status: Offline
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£7k on credit cards sounds scary.
However the money was for house improvements.
All the cards are 0% interest and balances are transferred before the promotional period ends. In the meantime paying them off and no interest 
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Jambo
Member
Registered: 8th Sep 01
Location: Maidenhead, Drives: VXR Arctic
User status: Offline
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using credit cards is a very clever way of financing things. Paying £42 a month for a tv for e.g that you will own for a while rather than stomp up £500 upfront is a much more sensible way to pay for things obv so long as APR is low/0 then whats the problem? The added purchase insurance/protection 
If you have half a noggin and dont just go bonkers buying shit you cant afford they are great. If you cant, then not having one has only solved easy temptation, not the actual problem of you not being carefull with your money.
Im with Ojc, i have never had an issue with borrowing money, so long as you pay it back without paying massively over the odds i fail to see the problem.
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Neo
Member
Registered: 20th Feb 07
Location: Essex
User status: Offline
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What he said ^ 
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sampayne21
Member
Registered: 3rd Sep 08
Location: Sidcup Kent Drives: BMW E46
User status: Offline
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0 debt, but thinking of buying a new car so soon 10k debt
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mattk
Member
Registered: 27th Feb 06
Location: St. Helens
User status: Offline
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£2000 left on my car, I borrowed £4000 off my mum and dad, paid half of that off (probably over half now) through a direct debit I set up
I dont think Il ever have a credit card though
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RichR
Premium Member
Registered: 17th Oct 01
Location: Waterhouses, Staffordshire
User status: Offline
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quote:
Originally posted by Ojc
What the fuck is wrong with borrowing money to buy a car, do up a house, go on a round the world trip etc? I've borrowed thousands over the years, I've paid back every penny and I've never been worse off for it.
There seems to be some very disturbing views on having personal loans/credit cards.
If none of you have debt, and never have, do explain to me how you intend on getting a mortgage in the future?
You are a lenders worst nightmare.
[Edited on 17-03-2009 by Ojc]
I got a mortgage without ever having more than an ISA and basic account with Maestro card; only loan was a student loan which iirc doesn't count towards credit rating. In fact the only thing which would have counted towards a credit rating was my phone contract which I've given up now.
So that was a 95% mortgage with pretty much 0 credit rating  
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RichR
Premium Member
Registered: 17th Oct 01
Location: Waterhouses, Staffordshire
User status: Offline
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However, when I start making the big money purchases for the hosue, Kitchens, sofas, extensions etc, they're going on credit card (immediately paid off) just for the added financial protection if suppliers go bust
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harrisp
Member
Registered: 15th Dec 07
Location: Derbyshire
User status: Offline
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quote:
Originally posted by will_doyle
I owe my mum £50
lol
I owe my mum £50 too .
But I did owe her £2.5k before
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Dom
Member
Registered: 13th Sep 03
User status: Offline
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About 15k in total, if taking in account of student loan....
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Mase
Premium Member
Registered: 16th Sep 01
Location: Derbyshire
User status: Offline
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I've currently got a hefty overdraft of £1000+ and a student loan that i'm still receiving which will probably total around £16000ish when I finish and I'm currently borrowing some off the parents, but most will be paid back when I start working in July. The student loan will be paid off as and when, i'm in no rush to get it paid off... Oh and a credit card, but that currently has nothing on it.... IIRC....
Mase
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Graham88
Member
Registered: 16th Apr 07
Location: South East Kent Drives: E46 M3
User status: Offline
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OJC summed it up nicely. Makes me think some people in here have never bought anything expensive as very few people generally have a few k sitting around doing nothing.
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Andrew
Member
Registered: 5th May 04
Location: Skoda Octavia Estate, Ford Puma
User status: Offline
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110k on two morgages (one i owe 35k on now) and 15k student loan. So yeah, quite a bit
Flat muat be worth 80 - 85k though and i owe the pug out right.
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Corsa Matt
Member
Registered: 6th Sep 08
Location: West Sussex, Drives: Vectra B and Golf GTi
User status: Offline
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No debt but a huge mortgage.
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