What's the worst you have heard of?

Badone

£114K in 2009 and now down to £ 65K. Okay, I earn a very good salary but it's been tough and still a way to go. I just wish I'd found out about this site and the options (DMP) available earlier but hey, life is for learning from your mistakes and I sure have. Great site this and although I rarely post, I do visit regularly.

bambos

Bedsit_Bob wrote: »

I recall one MSE member, who had close to £1/2 million of debt (admittedly including mortgages), and a household salary of just over £60,000 pa.

:eek: that really is the highest I've heard of on here

matttye

£1.5k was enough for me!!

Lucky I saw the light early

Hermia

I have a friend who has £50k and she is a part-time shop assistant. The worst thing is ALL the money has been frittered on tat so she hasn't even got a car or a nice holiday to show for it.

antonic

When I saw the light in 2005. I owed approx £24k on a full time salary of approx £17k per year.

My debt was 3 credit cards and an overdraft, and with the help of Payplan I managed to get DF in June 2013.

Since I got DF I find it very hard to spend money, if I dont need it I dont buy it.

This new frugal attitude has meant I have saved and paid for a holiday I am going on at the end of this month (with spends).

When I come back I will start some serious saving as I had decided that once I got DF, I wanted to enjoy having money (within reason) and I have now done that.

Puddylove

Well, I owe around £15k at the moment in unsecured debt, but I'm lucky enough to be paid more than the average so can manage it fine.

It does slightly worry me how easily I could obtain more credit; I have about £25k of unused credit card limits.

vics199

FireWyrm wrote: »

This is true. My total debt burden as it stands today is just one fifth of my gross annual salary but feels intolerable after seeing the light a few years ago. I'm not in debt because I'm bad with money, it was more about being lazy and thoughtless over the years. It is so easy to say 'sod it, lets get a pizza' once in a while, but that then turns into a pizza a week, and perhaps more than that. Add to that a couple of bottles of wine, a night out or two and you've busted any sensible 'food' budget you might have had. This then leads to profligate food spending, you dont have an emergency fund, the car breaks, the cat gets sick, the fridge needs replacing, you leave lights on all the time etc etc ad nauseum. Over the years, it adds up and you never could put your finger on where exactly all those thousands went.
QUOTE]





Wow this post really sums up how I ended up in debt. Its always so difficult to try to explain to friends how I have so much debt but you have summed it up so well. I can relate to every bit of it!

hamilton20

I paid off £120,000 of unsecured debt on a debt management plan. My salary when I started the plan was around £25,000 and by the end of the plan had risen to about £40,000 so my debt was several times my salary! However worth it in the end.
I also started an ebay business (as I was so desperate for money during that time and a single parent!), and though it was small fry at that time, it has now grown and I run it along side my employed job. I now plan to buy a house soon (with cash!).

Growurown

We had over £48,000 plus an HP agreement on the car. Car is paid off and debt is now just over £21,000. I'm hoping that we will be debt free towards the end of next year, all being well.