Do you tell people about your debt?

Garnet_Gem

Or do you keep it secret? When i was clearing the money i owed i didn't tell anyone so i probably ruffled a few feathers by refusing invites to nights out etc but i felt ashamed about the debt i had and never told anyone, not even after i cleared it. Silly or sensible?

momisa

I tell close friends which has really helped as we now spend time together without spending money. It's also nice not to have to make up excuses not to take part - they all know that I can manage my finances each month but for things that cost money we now plan for them so that I can budget for the likes of the Theatre, Dinner out etc

GirlRacer_2

I've not told anyone at all. I'm not in a major amount of debt and I'm lucky as it's manageable but I'm still ashamed of it.

hypno06

I tend to keep it quiet - only a couple of really close friends know, although others know that we are not exactly rolling in cash!

I did tell someone once because they kept going on about how little they had and how much they assumed I had in the bank - it was really frustrating and she wound me up so much that eventually I told her to sit down and I told her the truth.

I really didn't want to open up to her and instantly felt cross with myself for having done so - I don't consider that person to be a good friend so I got upset at having made myself vulnerable. I worry now that she will mouth off about it in front of others.

I don't know if that makes sense, but basically, I will keep things quiet unless I really have to open up.

danielleindebt

i keep it quiet. 1 person at work knows and my oh and thats it. i may tell when its all cleared.

immoral_angeluk

We're an open book. We're more proud of the achievements we've made than concentrating on how much debt we have and why and are not ashamed at all...

Rout

Due to stupidity and people happily giving me credit I was 37k in debt by the time I was 21 (26 now). When it all eventually caught up with me I think people close to me knew all was not as it should be, but I didn't tell anyone. I told people for the first time last year (parents during an end of night heart to heart, and 1 close friend). My parents actually offered to clear it, but refused as I think this is, and will be at the end one of the most valuble lessons I've ever learnt!

I'm actually looking forward to telling others the extent of my debt once its gone.

In a strange way this has been good for me, though the lows at times were unbearable.

I sent my first bank charge reclaim letter two weeks ago, looking forward to a little payback :beer:

Michael.

Crown

I tell anyone who I talk to about my debts if the subject comes up as I find that being open and honest about them can lead into oppurtunities to either help them out with advice or they give me some info I didnt know.

A majority of the people I have discussed debt with normally then admit to having there own "secret" debt.

I dont understand why debt is such a big issue when in Britian we have the highest amount of credit debt in Europe! We can talk about Sex, Drugs and Violence and no one bats an Eyelid but the topic of debt appears and people scramble for cover like its the ultimate Taboo!

I am ashamed that I got into o debt but this was due to years of not understanding and then a failed business venture. I have no Nothing to be ashamed for as I am now sorting it out.

Dr_Hook

OH and close family members know, though only OH knows the full extent of my debts.

Would be more open about it, as I'm not particularly ashamed - at the end of the day I was a bit naive and didn't think things through, but I'm dealing with it now. Trouble is I work in the insolvency industry and feel that, as such, I should know better. Even though I've only been in the industry around 3 years and the majority of my debt was incurred prior to that.

Ho hum :rolleyes:

Dr_Hook

Crown wrote: »

I dont understand why debt is such a big issue when in Britian we have the highest amount of credit debt in Europe! We can talk about Sex, Drugs and Violence and no one bats an Eyelid but the topic of debt appears and people scramble for cover like its the ultimate Taboo!

Totally agree - and "bankruptcy" is the ultimate swear word!!!

smudgemanc26

Only my best friend knows about it all. I havent told my mum and dad all the extent they know i have a credit card but dont know about the loan i took when i bought my house. The only thing is now because they dont know the extent of it and i always have no money they think i am 'living beyond my means' and keep going shopping. Little do they know that i have about 60 a month to myself and thats not even paying of small amounts on my CC's!

I have been to the CAB who have helped me lots and ive finally got a statement of finances done so the other day i explained to my mum and dad exactly how much money i have to myself (didnt tell them why though)

Hopefully very soon i will be able to clear my debts as ive applied for severance at work and hopefully it will go in my favour. This means i can pay off my debts still be able to pay my mortgage and get another job i want to do, give up my pt 2nd job and go to college at night to study what i want to do (law).

This is the only way i can see myself being debt free as i wanna be able to have a good life and not just work for nothing like i seem to be doing now.

If i get it i cant wait to pay of my debts tell them where to go and say to them never ever send me any mail again about your offers - cos i couldnt give a !!!! and im not interested! :T