How did you get so into debt??

newlywed

Tricky_Vicky wrote:

That's what they used to call credit cards in the advertisements. Anyhow my flexible friend sprang back and slapped me in the face

:rotfl: Yup. Can totally relate to that comment!!

natlie

Hi
mine was mostly as a student I was a single mum age 21 started my degree and had to pay childcare becuase all they gave me were student loans. Then I bought my car on HP and my house and had to buy house stuff with card then met DF and we had two hols on credit card (were very cheap hols though!)

then I paid off two cards on a 0% transfer but didn't close the accounts and ended up with 3 then I lost my job and had to start putting things back on card but haven't put anything on a credit card since 2004 have a PAYG mobile no contract now. I don't buy anything really only baby stuff and thats all 2nd hand from ebay

Nat
x

Bells&Whistles

I wanted to borrow 1k from my bank to do a home nail course, but the rate worked out much better if I borrowed 3k (didn't need 3K but saw the pound signs...) Managed to squander that quite quickly on nothing at all then ran up the O/D consolidated the O/D into the loan and ran it up all over again, bought a car and then got a company car so got a settlement figure for HP and put that into my loan.
More consolidation to follow + 2 credit cards = my LBM ! and so much happier for it, I look at my old statements and I have no idea how I survived. :eek:
Have just had my first month without dipping into my O/D and a really tight but workable budget and am looking to pull forward my DFD

wifeforlife

Mine was because I got part of my income taken off me, tax credits had made a mistake in my original application and stopped my payments Dec 04 for 8 months to recoup their mistake. Of course I had been spending to my income and suddenly half disappeared so now just about getting by and not relying on benefits now

Cest la vie!
Cath

msmicawber

Various reasons - some beyond my control and others that were in my gift to get right, but I didn't. However, now I'm out of debt, I don't want to think about it any more. I just want to concentrate on never getting there again.

southernscouser

Debt? What debt?

:rolleyes: :rotfl:

Dolly_Smith

well, I have built up and paid off debt many times (built up at the mo!) - largely due to redundancy packages. I at least have stuff to show for it (and to sell if necessary) - we have a house with good equity, a nice car, watches, jewellery and camera stuff (I know I sound like a footballer's wife but this couldn't be farther from the truth!!). We completely refurbished our house, paid for our wedding, have been on some nice holidays.

So in that sense the debt has been worth it - it's now built up due to a year having to temp and hubby training but I'm now perm and he's qualified so hopefully it will be on the up.

If I've built the debt up I tend to become obsessed with paying it off and that's how I've managed to stay afloat. This makes me sound freakish but there it is!

I am careful not to have too much debt at any time tho - 1 card, 1 loan and an overdraft, and that's it

Without_a_paddle_3

Well paid job, earning £50,000 a year, then MG Rover went bust and so did my company.
Now earning a LOT less, but the bills did not drop in size.
Left with a car on loan, four credit cards...the rest is history.
What was easy at the orginal salary became impossible at the new salary

Headintheclouds_3

Foolish overspending on c/c; tat on eBay, a holiday (budget, mind) every year on the card, a couple of bottles of nice wine every week on credit rather than out of my shopping budget, the odd pair of jeans which didn't fit but which I couldn't be bothered to take back for a refund and books, books, books (the only spend I really miss - my local library is good but not great) - it's as simple as that!

wullieb1

I spent mine on crap.

I have nothing to show for it and finally paid the price when i went bankrupt 6 years ago.

I did though pay most of my 16000 debt back to the AIB.