One Debt you wish you didn't agree / sign / didn't do!

In_Search_Of_Me

Where do I start....!! Taking out a loan of 8.5% to pau off student loan (doh!), Northern Rock - lesson learned - read T&C!! First direct loan which just pushed the monthly payments too far but possibly the worst now is having done so well last year I slipped a bit and now have to get cc's back down again...onwards & upwards eh!

malvena_2

It has to be my loan with barclays. I wasn't in a huge amount of trouble at the time, but had gone overdrawn a couple of times. I was managing to keep on top of payments, but Barclays suggested consolidation. :mad: Stupidly I fell for it - i wish i had known about this site then. Anyway because of that loan now i'm in a right mess but sorting it out.:eek:

Will get my revenge claiming back bank charges as small as they are.

jillie1974

would be the secured loan we took out aout a year after buying our house! if we'd known about this site and charities like CCCS and Payplan we wouldnt have any or as much debt now! yes we dont have it now as we increased the mortgage to cover it but now have hardly any spare equity in the house if we ever want to move!
also any credit cards i took out!! have only ever managed to pay one off and that was because i moved over here and had to use my savings to clear it!

January20

A loan I took out 4 1/2 years ago with Beneficial Finance at a staggering interest rate of .......31%, front loaded. I didn't know better and I desperately needed the money for a tax bill. Only 5 payments left!

And then the company that manages my block wisely decided on roof repairs: £1,300. Not enough advance warning to save up. I pay monthly and it's interest free but I really, really, really, really resent it! With what I know now, i could have saved it up and got a little bit of interest too!

lil_me

One with Buy As You View, paid it off this year what a blooming rip off they were!!!

furrypaws_2

For me, I think it must be transferring a balance to an MBNA credit card and then finding that out of the £110 monthly payment, only 80p was paying off the debt - the other £109.20 was interest!! :mad:

tesuhoha

My OH bought a boat some years back for £2,500. We had a massive row about it at the time. He has only used it once or twice and has been rotting away ever since. It stayed on our drive for years. I once cleaned it up to sell it but he had a go at me and refused to sell it, got quite nasty about it. When we moved I tried to get him to sell it but he wouldnt. Its now sitting in his boss's back garden rotting away as there is no room for it here.

He always goes on about the money Ive spent on family holidays but it was something we all enjoyed for a fortnight for 6 years when the kids most appreciated it and we have the memories to look back on. Nowadays with £15000 debt we cannot afford a holiday and indeed have not had one for 4 or 5 years now.

Nod_Off

Mine had to be getting a 10k loan from Egg to consolidate my CC's etc. Needles to say I ran up all the cards again, hence why I'm in the pickle that I am in :mad:

sandralovescats

MBNA for being a complete pain!

SunderlandBlackCat

As others who have consolidated have already said, taking out a consolidation loan at a poor rate of interest, then not learning from my mistakes & taking a second consolidation loan 18 months later at an even worse interest rate.

I'd have been debt free about 18 months ago if I'd started tackling my debts instead of consolidating.