How much debt were and are you in?

niccatw

I first joined in February 2008 - so two years ago. But that was clearly just my flickering candle moment! Then I added my debt up to be about £32k, but didn't add in what I owed family or the student loand that comes off my wages, so all in, it was probably closer to £40k :eek: A lot for a 30 year old!

So two years on, everything included, it's about £29k (rounded up). And I feel much more in control. I do need to come on here often to help keep me on track and I've started a DFW to help me along with that. If I can keep to the payments the snowball calculator suggests, I could be debt free within 2 and a half years :j. I'm not sure that's realistic for me, but I'm viewing it as a challenge! And so far, I haven't had to go on a DMP. However, if my situation changed, I wouldn't rule it out.

Thanks to all of you on this site for encouraging me - and telling me off when it's needed

Glittermonkey

When I added mine up at the end of 2005 I was at £23700.

2006-2008 were bad years for me and I didn't focus on my debts. If I am totally honest I could have done so much better, I go through stages of putting what I can towards the debts, then months of spending on what I like.

I live on my own, except unemployed brother and my daughter, so paying them off on one wage can be tough. Especially when 2 people helped to run them up :mad:.

Anyway, I am pleased that I have managed to get the debt down and not increase it. According to whatsthecost, I will be paying it off for the next 10 years :eek:

niksyg

Hello,

A year ago I was over £3000 in debt - I now owe £1009.65

I know this is minimal compared to lots of people on here but to me it is alot and it has been really hard going clearing 2k over the last 12 months. As a 24 year old I have learnt my lesson early and will never ever spend more than I earn...it's just not worth it!

psychopathbabble

niksyg wrote: »

Hello,
As a 24 year old I have learnt my lesson early and will never ever spend more than I earn...it's just not worth it!

Hopefully a lesson for life! If I had known 6 years ago that I would be 24, earning really good money and not being able to enjoy it, I hope I would have seen money in a different light. I certainly am now.

niksyg

psychopathbabble wrote: »

Hopefully a lesson for life! If I had known 6 years ago that I would be 24, earning really good money and not being able to enjoy it, I hope I would have seen money in a different light. I certainly am now.

Definitely psycho...

When I think of all the unnecessary purchases I have made and bad financial desicions over the past 6 years I could cry! Thank goodness for OH who is tight as anything and has been the big difference to my financial situation! It's only onwards and upwards from here though I suppose!!

welshangel

12k for me, which includes everything.

I am starting to pay it off now, and aim for a DFD to be around 3 years. Hopefully less, but if it is it's a bonus.

Oneday77

niksyg wrote: »

Hello,

A year ago I was over £3000 in debt - I now owe £1009.65

I know this is minimal compared to lots of people on here but to me it is alot and it has been really hard going clearing 2k over the last 12 months. As a 24 year old I have learnt my lesson early and will never ever spend more than I earn...it's just not worth it!

The thing is there is no comparisons with debt. You either have it or you don't, you can afford it or you can't. Minimal debt is owing your mate a fiver for parking as you had no change on you. Anything else qualifies to be here or depends if you like the company :rotfl:

Mozette

At worst I guess around £25,000 - but that is a guess, it might well have been more. I was recently down to £750, but have had to take on another £1,000, hopefully done by October. Will hopefully be debt - other than mortgage - free soon!

Homer_J

Hi Dib-Dab,

When I decided to sort myself out I had £42 000 of unsecured debt. It scared me witless when I added it all up, I had no idea it would be so much! That was back in 2003, when I entered into a DMP with Payplan. Now, nearly 7 years later, my debt is down to £2800, and will be cleared by August this year. It's been a hard slog, but gets easier as time goes on. I have even managed to increase my payments and save some of my wage-rise each year - saving actually becomes quite addictive!

I'm really looking forward to investing the monthly payment I currently hand over to my creditors (£494) - after treating my family to the best debt-free Christmas ever, that is!!!

poorandindenial

£36 at my peak, £34k-something (it is down there in my siggy) when I joined thissite. Very soon to go below £10k - woo hoo

The debt is all mine as I am a single 31 year old female.