Ah-the relief.

russell

FH is my second home
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I just wanted to share the fact that i have just paid off my final credit card :clap:
Thank God for that.

I'm not being smug, its just that with 3 small children, a husband who has been feeling the strain and me going back to Uni to become a teacher, our debt had mounted up and up and UP and its horrible living like that with no immediate way out.

Stress and worry is nasty to live with -and before I get flamed, I havent been living a champagne lifestyle on lemonade money -just merely getting by with a family on one income (and childfriendly PT job's)

And now I am back to fulltime work -granted we have had to increase our mortgage (and so are not really debtfree) we are now in the position to over-pay it each month to get back on track.

What a f...ing relief!!!! Any of you with debt will know what it feels like when people are on the news having their houses re-possessed or going bankrupt and you just feel sick.
Well, there is light at the end of the tunnel dudes :D Do you have debt, or are you all careful like Ed?
 

gunner440

Hey Daddy Altman
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Congrats. Debt isn't necessarily bad though. 'Good' debt is alright :ninja:
 

Jupitus

Old and short, no wonder I'm grumpy!
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That's great news Russ :)

I'm at the other end of the cycle right now - large loan to value on the mortgage with no more available that way owing to the house having lost value and stacked up to the ears with debt... talking to the bank about it all to plan a course of action to stay solvent, but also weighing up the possibility of selling up and moving somewhere a bit cheaper :(

Still - keeping our spirits up and I know plenty of others are far worse off than me, so I try to keep it in perspective :)
 

Chilly

Balls of steel
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Thanks. What is 'good' debt?

An affordable mortgage on a high quality property that you and your family can live in for 50 or more years.

Student loans are pretty good value as far as debt goes too.
 

Scouse

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Man, I thought this was a thread about wanking.

I'm doing the opposite of everyone else at the moment, I was solvent but I'm enjoying plummeting into debt through not working and holidays :)
 

Kryten

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I'm still over the moon to be entirely debt-free, but then again I did cheat :D

Is a great feeling :D
 

Wazzerphuk

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Don't understand why people need credit cards. Spend what you have. Unless you're greedy and impatient.
 

nath

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Don't understand why people need credit cards. Spend what you have. Unless you're greedy and impatient.

It's nice to be able to pay for things with something that's entirely separate from your current account. I pay off my CC every month and when I got fraudified the money wasn't gone from my account but just stuffed on my card and it was that much easier to sort out.
 

old.user4556

Has a sexy sister. I am also a Bodhi wannabee.
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Don't understand why people need credit cards. Spend what you have. Unless you're greedy and impatient.

I don't understand people who don't understand why people need credit cards.

Firstly, there is protection under the CCA where the credit card company are jointly liable in the event of things fucking up on purchases over £100 - this can be extremely useful. Secondly, there are cashback and points deals (Tesco for example) out there for those with an iota of a clue on how to manage their money properly - you can put everything on it; food, petrol, car insurance, holidays etc and get a reasonable chunk of cash back per year. Just pay it off at the end of the month. Thirdly, some places just won't accept debit cards as a payment method, or only accept at least Visa Debit (so you're fucked if you're with RBS's maestro card). Fourthly, 0% credit cards are cheaper than personal loans (obviously). You might not have £1000 kicking around for a new gas boiler, but you could quite easily manage £80 a month over 12 months (or sooner).
 

Bugz

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Also a smashing way to get good credit (or so the bank lady told me).
 

Wazzerphuk

FH is my second home
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I've never found anywhere on Earth that doesn't accept Visa Debit, which is the standard.

Credit cards are the epitome of the "I want it so I deserve to have it now" mentality that has appeared in modern high capitalist societies.
 

cHodAX

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Grats Russ, nothing better for a good nights sleep than to have zero debts.
 

russell

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I don't understand people who don't understand why people need credit cards.

Fourthly, 0% credit cards are cheaper than personal loans (obviously). You might not have £1000 kicking around for a new gas boiler, but you could quite easily manage £80 a month over 12 months (or sooner).
Thats exactly the kind of thing -not fab holidays, fast cars and loose men -just washing machines, car stuff and finishing off the extension.

We were advised by our financial advisor to use 0% credit cards (as long as we transfered the balance in time) until I went back to work and we could get the debt back on our mortgage, and then over- pay the mortgage like demons:)

and love you Wazzerphuk.
 

Wij

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It's easy just to spend what you have when you're a bloke who doesn't feel that every item in a sale is an opportunity missed if not purchased :)
 

russell

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It's easy just to spend what you have when you're a bloke who doesn't feel that every item in a sale is an opportunity missed if not purchased :)
Im not really a great fan of shopping -but I know what you mean- my best friend has enough tops to clothe a small nation:)
 

Edmond

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Im not really a great fan of shopping -but I know what you mean- my best friend has enough tops to clothe a small nation:)

No i dont !!, and besides, you can never have enough tops
 

Tom

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I'm in the opposite situation. No massive debt problems, just massive "clients not paying on time" problems. One owes me over £7,000, and its months overdue.

Extremely frustrating.
 

Gumbo

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Time to get well aquainted with the courts service then I would have thought?
 

MYstIC G

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I'm in the opposite situation. No massive debt problems, just massive "clients not paying on time" problems. One owes me over £7,000, and its months overdue.

Extremely frustrating.
If they're not a regular source of income I'd suggest: https://www.moneyclaim.gov.uk
 

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