I have got myself in quite a bit of debt and its only started to dawn on me?! Is there anyone else out there in the same situation? xx
2007-03-20 03:55:33 · 17 answers · asked by Katie 5 in Business & Finance ➔ Credit
Course its a question Maria you fool, it has a question mark doesnt it!
2007-03-20 04:04:42 · update #1
Yes, not a nice situation is it?!?!
All the people who have been lucky enough to never get in debt are very quick to judge us don't you think!!
The majority of my debt was from when i was 18, young and stupid - all spent on holidays, nights out and nothing to show for it.
I now have a family and could probably do with finance (to use sensibly of course!) and now can't get it!
But that's my own fault and can blame no-one else although i do think lending laws should be a little stricter? At 18 everytime i visited the bank i was being offered credi cards and loans and the only type of post i recieved was for the same!
Growing up i was always taught the value of money and my parents have always avoided debt so not sure where my irresponsibility came from but boy am i paying the price now!!
Sometimes i just wish my slate could be wiped clean but i know thats never gonna happen!!!!
One good thing though.........at least we've learnt by our mistakes?!?!?!?!?
2007-03-20 08:33:53 · answer #1 · answered by Anonymous · 1⤊ 0⤋
Me and my boyf are graduates and the debt stinks. We have so much debt we can't even begin to think about the student loans we both have.
Having said that, we're starting to creep into the green (well..in the week between getting paid and the bills). I think you just need to get a strategy - live like a pawper, only buy cheap food, don't buy anything else at all, don't go anywhere and don't do anything. It's been hard, but it's starting to pay off and I feel like a weight is gradually being lifted off of me. I just wish it was happening sooner.
2007-03-20 04:06:14 · answer #2 · answered by Saint 3 · 1⤊ 0⤋
yes, all are, consolidate your debts
Opt for a debt consolidation loan: The easiest method of getting a debt consolidation loan is to utilize the equity of your home. Equity of your home is calculated and determined by the difference in the amount you have paid and the amount you owe. If the amount you have paid is more than the amount due, you can use it as collateral. This allows you to borrow money on lower interest rates. Besides, you also get tax benefit on this type of loan. Consult your tax advisor before opting for this loan.
Use unsecured loans: If the equity in your home is not adequate or you do not own a home, go for an unsecured personal loan. These loans are more difficult to get, but once you are approved, you will benefit from the lower rate of interest with this type of consolidation loan.
2007-03-21 00:58:21 · answer #3 · answered by Anonymous · 0⤊ 0⤋
yeah,loads and loads of debt, 50k approx.
i was alright when i was working then after i had heart attack and couldnt work through arthritis i told all my creditors that i couldnt pay even my minimum payments as i was on incapacity/income support/disability living allowance /mobility+care,they didnt like it and i got hundreds of phone calls and letters from the creditors and the companys they get to retrieve their debts,some companys (credit debt collecting agencies have been very good and have accepted £1-00p per month and £5-00 per month payments but there are a few who want minimum of £100-00p per month for a debt of 1k where as one debt of 7.5k is £1-00p.no matter what you say or have been told by anyone on the phone,the next time you speak to someone else and tell them that you had spoken to someone and they told you they would accept so-and-so per month they then tell you that you are a liar as any time that you contact them it is always put on the computer etc.they or should i say some of the people are very rude and intimidating on the phone and it depresses me even more than usual. i know that it is my fault that i am in debt but at the time i could afford it,it got so bad with the constant letters and phonecalls last year i decided to call it a day and tried to end it all, unsuccessfully i might add,obviously ! i just feel like a leper,i thought that i was one of a lonely few,but i now realise there are millions like me,infact have just had a call from a firm called C.S.L telling me that the minimum they will accept is £12-50p per month i told them impossible,the debt is for 561-00p she told me not to take taxis and buses etc,cut down on my housekeeping budget,and my telephone etc,i live alone,disabled with no family within 50 miles of me,go to the hospital 7 miles away 3-4 times a month etc.then she tells me to cut back on my lifelines,cos that is what they are.getting my shopping and going to the hospital is the only time i get out of my house/flat etc. what ever you do or how bad it gets the trying to take ones life is not the solution at all i found that out.if i was still working as a shopfitter then i would have paid all my debts off,i never missed one payment to any of my 9 credit cards or 4 loans in the past 6 years. up until 2000 i had never had any credit/loans in my life of 51 years, then all of a sudden everyone offered me everything silly me accepted. best of luck to all you debt people and hope that you get free in the future.
2007-03-20 07:20:26 · answer #4 · answered by thorpythorpe56 2 · 1⤊ 0⤋
Yep!! I have student loans, several car repo's, a home repo and lots of unsecured debt. I don't know the total amount, but it's close to 100K. I can thank my lazy *** husband for that. Well, not the loans, but the other stuff. I ruined my credit so an idenity thief wouldn't have to!!
2007-03-20 04:03:25 · answer #5 · answered by sisterchick1274 2 · 1⤊ 0⤋
Yeah I was, but then I met a few man toys who had a fetish for financial domination by an online Mistress. Now I am debt free!!
2007-03-20 04:02:50 · answer #6 · answered by Anonymous · 0⤊ 1⤋
yep! loadsa debt :( turned 18 got credit on everything then thought sh#t i can't afford this!!
my own fault i know but now i'm with Debtline (adverts on tv) and they're great - i'm paying off my debts at a monthly cost i can afford without worry now
2007-03-20 04:06:44 · answer #7 · answered by RapBaby 2 · 1⤊ 0⤋
So many people are in your situation.
In 2005, more people in the states had gone bankrupted than graduated from higher education.
Get some information, elaborate a plan, a budget and stick to it! http://www.getrichslowly.org/blog/
http://www.prosper.com
2007-03-20 04:09:52 · answer #8 · answered by Anonymous · 0⤊ 0⤋
I know how you feel! I have 1 maxed out credt card, 1 loan, massive phone bills, 2 store cards, oh and the mortgage..... Ho hum, there are no pockets in a shroud, you cant take it with you when you die, etc etc... :O)
2007-03-20 05:52:09 · answer #9 · answered by Secret Squirrel 6 · 1⤊ 0⤋
Debt is a fact of life these days as it is so easy to obtain and so hard to get yourself out of it.
I owe, I owe, I owe, so it's off to work I go!
I owe my soul to the company store!
2007-03-20 04:01:31 · answer #10 · answered by snapdragon747 5 · 2⤊ 0⤋