Your Personal feelings on debt? Ashamed? Embarassed? Worried?

livinginhope

We are not ashamed of our debts,they were not our fault so have no reason to be ashamed.I wouldn't say I am embarassed,but I won't tell friends as I know they wouldn't understand,my parents know,so does my brother and cousin.I have a feeling my gran knows as she offers things to me when I visit :rolleyes: but she never says she knows!
I am very worried about the debts,I constantly think about the length of time it will take to pay it back and resent it,as I feel cheated
Things in life are sent to test us and I believe our debts were sent to test us to the limit,but they won't win
LIH

Brassic

I just feel stupid tbh, for letting it get to this stage.

Am not terribly embarressed, but am definitely verging on the fantical; scared one of my colleagues by giving him a rather over zealous friendly pep talk the other day on how he needs to sort himself out NOW, rather than getting into the same situation as me! I suddenly realised he was literally backing away and figured it was time to stop :eek:

gregrichards

I'm annoyed that I have some debt but its not a great deal of money and I pay more than the minimum payment every month.

Its very very difficult to live in the UK without debt. A lot of people have nothing left after paying the mortgage, the car, child care, food, council tax, heating, petrol, house insurance etc, etc.

It is in my view 'ok' to be in debt but only if you will be able to pay it back, know how to manage it properly and use the most cost effective means of doing so.

Brassic

Hrmph. :rolleyes:

seven-day-weekend

Our debt consisted of a BTL mortgage of £33500, a mortgage on our family home of £5000, a bank loan of £10000, an overdraft of 2500, and a credit card debts of around £4000. £55000 altogether including two mortgages, so not bad by today's standards.

BUt - we then both had to go part-time in our jobs through illness and therefore lost half our income. We never defaulted on anything, and paid slightly more than the minimum on the credit card. But it was crippling us.

We consolidated everything onto the BTL mortgage (so there was only one payment per month) and then when the tenant left sold the property. Debt gone and money in bank.

I wouldn't normally recommend consolidating, but we knew it was only going to be for 6-9 months until the property was sold

Now we have taken early retirement and moved to Spain, only have a tiny income, but are still managing to save.

I feel ashamed and embarrassed by the debt we had as I'd always taken pride in the fact that we never lived beyond our means and were always able to live on one salary. Having the BTL mortgage made us unable to do that. Then illness struck and we had a much reduced income..

So for me. shame and embarrassment at getting into debt but also pride and relief that we have dealt with it.

LolStevo

learning_to_drive wrote:

Not at all, I would counter that it's a learning curve, same for me, I signed all my agreements when times were good, I had a job with Sains, I would never lose my job, people always need food.

I arrogantly thought I wouldnt get ill, then you get stress and depression and its not something that can be cured by taking Flu Plus (alleviate cold symptoms) or headache tablets, its a recovery process that you have to go through, then you cant work as much and then things descend.

Luckily Ive had my lightbulb moment, changed things around in my personal life and am hoping to join ASDA in the new year on the nights then move up the management ladder there.

Dont join ASDA!!! Re my thread "can they do this?" It is hard to get anywhere in asda now as when you go up your money doesnt change yet you have more responsability!

But i am ashamed about my debt, im only 20 and have suffered depression that im just getting through from debt! x

anniestar

No not embarassed; no not ashamed; Worried? well sometimes but not often. Simply PROUD TO BE DEALING WITH MY DEBTS.

lisa_75

I don't feel ashamed, just annoyed with myself that I can't manage money better. Other people seem to manage much better on far less money than us and have no idea how they do it.

Sometimes I feel there is this big secret I don’t “get” when I see the lifestyles of some of my friends who I know have less household income than we do. It is especially difficult at this time of year when my mate on income support is spending £400 on each of her 4 kids and I can’t even afford to spend half that on my 2 kids and my husband has a good job. She obviously has less money than we do, so how on earth does she do it?

We have got our debt down from £8000 at the beginning of the year to £3000 now. It does make me feel good that we will be debt free next Christmas.

learning_to_drive

Dont join ASDA!!! Re my thread "can they do this?" It is hard to get anywhere in asda now as when you go up your money doesnt change yet you have more responsability!

But i am ashamed about my debt, im only 20 and have suffered depression that im just getting through from debt! x

Hi!

Can counter this as my cousin is a nights GSM at a store, he raves about it! Different strokes for different folks i guess. Btw Ive had loads of responsibility at JS for !!!!!! all increases.

seven-day-weekend

lisa_75 wrote:

I don't feel ashamed, just annoyed with myself that I can't manage money better. Other people seem to manage much better on far less money than us and have no idea how they do it.

Sometimes I feel there is this big secret I don’t “get” when I see the lifestyles of some of my friends who I know have less household income than we do. It is especially difficult at this time of year when my mate on income support is spending £400 on each of her 4 kids and I can’t even afford to spend half that on my 2 kids and my husband has a good job. She obviously has less money than we do, so how on earth does she do it?
We have got our debt down from £8000 at the beginning of the year to £3000 now. It does make me feel good that we will be debt free next Christmas.

She gets into debt. Or she's telling lies.