how did you end up in debt?



  • Numpty_Monkey
    Numpty_Monkey Posts: 14,196 Forumite
    Combo Breaker First Post
    I got into debt by trusting my ex OH to use my credit cards etc responsibly, he didnt we split up, and cos it was all in my name, its all my debt, 16k of it!!!!!

    Id like to have it all paid by next year, but i dont think that will be possible

    Sounds like me :o
    Numpty,Not sure why but I'm crying :o . Of all the peeps on this board you're the kindest & most supportive of all & I'm :mad: & :( for you all at the same time . Wish I was there to give you a big :grouphug: & emergency hobnobs
    DFD 5/1/16
  • Nando1
    I'm in about £7500 debt. I got a loan a few years ago. I was paying it off then I got a new one for £5000 then a month later I lost my job. It took me then three months to get a new job. So it started to mount up. Luckly I found one with a good wage and I was able to pay back the mount I wasn't able to pay when I was out of work. So for the next couple of years it was all going great. I was paying off the loan and I was happy within the job. But it all changed when we got a new manager. Man that bloke was a @~#! After about six months with working with him I couldn't take it no more and I ended up leaving. So I was out of work again but this time it only took me a few weeks to get a new job selling sky tv in a call centre. That was a hard job! I could only do that for about 4 months and in the end I ended up leaving before they give me the boot. But luckly I was able to get into a new job right away. So i've been in this job since jan of this year and all was good. Untill I hurt my back a few months ago. Now i'm getting the sack and i'll be leaving on sunday. I don't have a clue what i'm going to do. I'm sick and tired of it all and I don't really care what happerns to me now. All i'm waiting for now is the debt collectors to come knocking.

    Anyway thanks for letting me get that off my chest.

  • Positive
    Positive Posts: 20 Forumite
    My story goes like this:

    12k on career development loan
    9k on student loans

    and then a remaining 5k down to living beyong means when was a student the second time around, putting petrol, food, and everything else on a loan ( and now a zero percent cc)

    ...although should say that student loan is now down to about 4k, career development down to 1400 and credit card at 4k.
  • clang_uk
    clang_uk Posts: 132 Forumite
    First Anniversary Combo Breaker
    I've only recently got into debt and that's through love (and having a kid eat me out of house and home)!!!

    I tell you love isn't cheap - but she's worth it (to a degree!!!).

    I currently have about 3k on cc and a 5k loan, hopefully be able to clear the cc in a few months, without getting stuck in this cycle of robbing peter to pay paul. But we'll see!
    Today's Debt:
    B/Card = £6,410 F/D = £3,190
    Loan = £0 Woohoo!
    Total Debt = £9500
    Debt as of 26-1-11:
    Total Debt = £14,325
  • BPGarage
    Mine was (unfortunately) my own over indulgence! I passed my driving test, insured a car given to me by my parents (setting me back £1600!) which broke down 2 months later. Bought a new car in a panic because I was going away for a week the week after upto York (which set me back another £2000!) and it just spiralled from there, holidays, going out, etc.

    Thankfully (entirely down to this site and to the stories people put. I thought I had it hard but it certainly gave me some perspective), I have got my debts down from about £5000 to £1500 in a couple of years, with some savings maturing soon hopefully (I've only recently grasped the idea of paying off debts with savings!) so I'm much happier and looking forward to my 'light at the end of the tunnel' moment when I can see myself being debt free :).

    So thank you to everyone on here for giving me a bit of a kick up the back side and a reality check. God bless spending diaries!
  • mummytofour
    mummytofour Posts: 2,636 Forumite
    Ours we because dh was communiting to london and 25% of our income was going on travel.This went on for 10 years.... Plus I was working on his days off. Getting a DMP was the best thing we did. But I would like to have it all paid off now :-)
    Debt free and plan on staying that way!!!!
  • Nottoobadyet
    Nottoobadyet Posts: 1,754 Forumite
    Debt-free and Proud!
    I became an international student in the UK! I had paid for all of my undergraduate degree by working nights, but I couldn't cover £13k plus living costs that my masters cost me, so I had to borrow it while I got a part time job to cover rent and food.

    Truthfully, I should have paid it back last year, but I didnt because I was too busy living up to my means instead of within them. I went on short break after short break and spent a lot of time eating / drinking out to make myself feel better during a rough part of my relationship.

    Dont regret it, but my will I be happy when its gone!
    Mortgage free by 30:eek:: £28,000/£100,000
    :DDebt free as of 1 October, 2010:D
    Taking my frugal life on the road!
  • savingwannabe
    savingwannabe Posts: 16,610 Forumite
    First Anniversary First Post
    How inspiring you all are. Well done in posting. I wish you all the best on your journeys. I reckon you should turn this into a thread. Good luck all. 000204AE.gif
    Aiming for a minimal spend 2022
  • BeautyandtheBeast_3
    men: married, divorced, remarried.
    its mens fault
    O/S Debt: PL £[STRIKE]15207.34[/STRIKE] £9884.55; HSBC £4060.99; Tesco£1430.15; M&S £5990.17; Virgin [STRIKE]£5158.69[/STRIKE] £4210.14; Egg £4619.00; O/S = ££30,292.42 AIM - To Be Debt Free 56 months
  • AnnieG
    AnnieG Posts: 877 Forumite
    Name Dropper First Anniversary First Post
    Long story cut short... I'd never had any money or freedom until I went to University, and the minute I got there it was like my life had finally begun. So in the first term I spent all my grant, student loan and up to the limit on my overdraft. Was skint for the whole of my degree, then went to France and earned only enough to cover my expenses. I'd had a small inheritance, but met my now ex husband just before I went, so spent that on travelling to London for weekends to see him. Then I moved to London and earned a pittance, and got my first credit card..... wow, free money!!! I would spend my salary, then when that was gone I'd use my card instead... for food shopping, travel, clothes etc.
    We eventually left London and probably had a fair amount of debt between us but never really thought about it because there was still room on the cards for more.
    Then we split up, and I moved out of the house on the same day I was made redundant, and used my redunancy payment to set myself up in a flat and pay the bills till I found a job. I also got a loan at this point... and so it continued.
    I managed to get a mortgage, somehow, to buy my ex out of the house, and had a bit extra to get the house done up. I was slowly drowning, and then met a man who was an alcoholic with a coke habit, he moved in but had no job, so I was spending up to £100 a week on drink to keep him happy.
    He then left, and I evenutally realised that I owed £45k with no real way of paying it back... so sold the house and started on a DMP, and the rest is history!!
    Say what you mean.. mean what you say... without being mean.
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