How on earth do you manage that?

thyme_2

Gosh I have only just see this comment on How one Earth did you get this amount of debt: well the answer is I put one thing on and then just kept putting more on - yes oh yes then there is the darn interest which just goes up and up. Yes it is an important question because until you acknowledge that 1: Yes I did put some items on that at the time were vital to keep up minimum appearances (and don't knock that if you work there are always that type of expenses) ie shoe repairs replacing items that were too worn out etc 2: The Baddy - I put other stuff on!!! and they darn well were not necessities! Until you acknowledge that fact and that this type of stuff CAN and should wait until you have the funds then you will continue in debt in the future! I have thought hard at how I got in debt and I will not do so again because it is too costly! What an idiot to be paying 3, 5 or more times over the price of anything. I could kick myself especially as you HAVE to do without stuff to pay all the debt off when you wake up any way! food for thought indeed. (((

System

This is only my personal opinion. I think there are two types of people who use credit. Those that use it to buy essentials because perhaps ill fortune has befallen them or perhapsthey have overcommited, ie on a house. and then there are those that have amassed the debt though lack of control and offers too good to miss in Dixons windows (DP for the ladies )

If people realise they are in debt and begin to take control its all good. But there is a general feeling among the non educated (ie non MSE) that the rise in the value of their house will save them. These people delude themselves, running round in brand new cars bought on remortgage.

What I cannot abide however, is that it seems (to my mind at least) a lot of people choose to go bankrupt because they cannot be "bothered" with the hard slog to fix their debts and going bankrupt for relatively small amounts.

I realise some people have no way out and bankruptcy is the only option. However to my mind it does seem like bankrupts do seem to gain more by going bankrupt than paying off what they owe.

There are a few people on this board, whom shall remain nameless but whenever anybody says "I owe £10,000" etc they tell them going bankrupt is the best and easy option, because they did it and got £23,000 wiped out.

The thing is its the rest of us that have to make up that £23,000 to the various creditors that get nothing.

As I said only my personal opinion

Rache_2

I was £35k in debt when I left university (6 year course in London with no bursary, and no parental support - the opposite in fact; was paying THEIR credit cards with my student loan).

Never got rid of it. Met husband, had baby, bought house and a lot of the debt was still hanging around, 10 years later. (Not for too much longer though I hope.)

FrankieM

We had 2 children very close together at a very young age. We had no parental support. OH was on a low wage ( before the days of min wage) and I couldn't earn enough to make working and paying for 2 lots of child care worth while...

Incomings and outgoings were about equal so no chance to save...so if we 'needed' anything it went on the card. Of course that then meant that our outgoings got larger but not our incomings...

OH got payrises but of course that just evened things out.....then of course life gets you down and before you know it your putting what you 'want' on the card as well....

8 yrs and many consolidation loans later we were 50k in debt....

We went down the route of remortgaging and that worked for us. We now live within our means, have paid off the last 0% CC we had and are now saving...

Of course the consequences are that we would like to relocate to Oz but have next to nothing in equity, when we could have had about 50k

I think some of our money issues happened because when you start a relationship that person can have very different ideas about money to yourself. My dad was a canny scot, I saw my parents put money away for bills, not have CC and basically live within their means.
My OH on the other hand came from a single parent family, with a mum who was not organised with anything and smoked her money away..
It can be difficult and take time for such different philosophies to work....

But we have eventually

Quasar

Revisiting this thread after quite a few weeks, and re-reading my previous post, I feel I have not expressed myself properly.

I still maintain that people need to take responsibility for their debt, but I would add that it is difficult for a stranger to know how that debt was incurred. Of course, reckless spending to live the high life means asking for trouble further ahead.

However, on reading many posts here in the recent past, I have revised my opinion somewhat, because I have become aware of how easy it is to get credit and for younger people to start spending. When we are young we are immortal and believe everything comes right in the end.

So I must now echo a previous poster, and ask "does it matter how the debt was incurred". And I have to answer no, it doesn't. What matters is the here and now, the moment one decides to change and takes the first step to this end.

Glittermonkey

Exactly how do you guys manage to rack up so much debt?

For me it was deciding to give up working full time to stay at home and look after my baby. I carried on spending as if i was still bringing in a full time wage, thanks to my Credit Cards.

Buying whatever i like and not worrying about it, thinking "Its ok, i'll put it on my card and sort it out at the end of the month" but of course i never did!

JAMIEDODGER

got a loan to get a car and to replace old pc. chucked a few extras on the cc's and here i am!

pixie1

Exactly how do you guys manage to rack up so much debt?

Ask nicely and i may answer but today im totally sick of been judged by people who do not know me.

Im not sure i will be posting here anymore....thanks to those who have been supportive, i couldnt of got this far without you x

Little_Miss_Winner

Hi Pixie,

You have to carry on posting, you have given lots of support and help to others. Every member is important in their own special way, and although we are all in the same boat, at least we are here for each other, through good times and bad!

Please stay

Love
pot

davek1

Pixie

Don't be put off you know most people wont judge you!!

i'm only just setting out tackling my debts and if people want to judge me as being reckless and irresponsible then let them, as i have been. theres a lot worse things in life than owing or having money. i realise that now.

so judge away i have already made a decision in life and am now happy with that decision. Besides while they are judging me and gossipping about me they are leaving other people alone.

Dont go Pixie!!!!

Dave