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biggest unsecured debt you have heard of?
worriedwilf
Posts: 93 Forumite
Hi Folks,
What is the worst case of unsecured debt that you have heard of? A family friend of mine apparently owes £100K in unsecured debt.
Just wondering how common these huge amounts are becoming in this day and age?
What is the worst case of unsecured debt that you have heard of? A family friend of mine apparently owes £100K in unsecured debt.
Just wondering how common these huge amounts are becoming in this day and age?
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Comments
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Not unheard of. 5 times the household income in unsecured debt is the worst I've seen....and I have no idea why the banks and credit card companies allowed it as I don't think it will ever be repaid....but the minimum repayments are being made so they are all happy and the family have a perfectly clean credit record.worriedwilf wrote: »Hi Folks,
What is the worst case of unsecured debt that you have heard of? A family friend of mine apparently owes £100K in unsecured debt.
Just wondering how common these huge amounts are becoming in this day and age?:footie:
Regular savers earn 6% interest (HSBC, First Direct, M&S) Loans cost 2.9% per year (Nationwide) = FREE money. 0 -
and I have no idea why the banks and credit card companies allowed it as I don't think it will ever be repaid....
I think its nuts that my credit card people keep increasing my limit! I do pay the minimum etc but i dont really want to spend 5k that i dont actually have.. thats half why im in the mess i am as my limit was less than it is now so i just kept thinking ohh add it to the card!!!!LBM 17/09/2013 [STRIKE]£4283.40[/STRIKE] November 2015 total [STRIKE]£4339.45[/STRIKE]
Current total 29/11/2015 £4226.43
CC - £3844.31 :eek: NW OD - [STRIKE]£500[/STRIKE] £382.120 -
Raggydoll85 wrote: »I think its nuts that my credit card people keep increasing my limit! I do pay the minimum etc but i dont really want to spend 5k that i dont actually have.. thats half why im in the mess i am as my limit was less than it is now so i just kept thinking ohh add it to the card!!!!
Your credit limit isn't a target you know!0 -
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Lou~ Debt free Wanabe No 55 DF 03/14.**Credit card debt free 30/06/10~** MFW. Finally mortgage free O2/ 2021****
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One debt remaining. Home improvement loan.0
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