rusty dan 1 Posted September 19, 2009 Report Share Posted September 19, 2009 Just wondered what our club members average personal debt was...This excludes mortgages I work in IT so I am not doing it for fishing purposes to seel you something lolJust a query..Of course you dont have to give an answer...Russ Link to post Share on other sites
ingham 5 Posted September 19, 2009 Report Share Posted September 19, 2009 zero for me i dont do debt Link to post Share on other sites
cabrioman 6 Posted September 19, 2009 Report Share Posted September 19, 2009 luckt for me only just about 2k i think lol Link to post Share on other sites
bungy 2 Posted September 19, 2009 Report Share Posted September 19, 2009 Does having two kids under 5 count? Link to post Share on other sites
mike 6 Posted September 20, 2009 Report Share Posted September 20, 2009 zero for me , never had a loan or credit card Link to post Share on other sites
craggsy 91 Posted September 20, 2009 Report Share Posted September 20, 2009 Yes I have debt...........well under control tho and not that much surprisingly as i save more now Link to post Share on other sites
craggsy 91 Posted September 20, 2009 Report Share Posted September 20, 2009 zero for me ' date=' never had a loan or credit card[/quote']Thats very comendable Mike..........but try getting a mortgage without having a credit rating. Jason is different as he is self employed so different rules apply Link to post Share on other sites
Miss-Vw 2 Posted September 21, 2009 Report Share Posted September 21, 2009 Im only 20 and Im about 2.5k in debt, loan and credit card. Everything's under control though, I just wish I was more patient and just saved! Having said that, If I had gone to Uni, I would probably be around the 15k mark by now. Link to post Share on other sites
hvr6 88 Posted September 21, 2009 Report Share Posted September 21, 2009 does a £100k mortgage count?sorry sorry just read mortgages dont count Monday morning!!! 8-) in that case my poll vote doesnt count oops Link to post Share on other sites
Nex 17 Posted September 21, 2009 Report Share Posted September 21, 2009 Think l have about 11k left to pay after 5 years of payment, but all under control. hindsight saving would have been a better plan, but damn that was a fun year Link to post Share on other sites
ingham 5 Posted September 21, 2009 Report Share Posted September 21, 2009 zero for me ' date=' never had a loan or credit card[/quote']get yourself a credit card just pay it of every month it helps with your credit rating, it also has saved me money on ferry s and other things, i got mine just for nurburg but its very handy Link to post Share on other sites
thegoth 5 Posted September 21, 2009 Report Share Posted September 21, 2009 Yep, agree with Jason. Nothing wrong with a credit card as long as you pay it off every month and do not use it for cash advances / credit card cheques.The purchase protection saved/repaid my £60 when speedferries went under. Link to post Share on other sites
VR6Pete 1,455 Posted September 21, 2009 Report Share Posted September 21, 2009 and it came in handy when I owed the nurburgring 1.5k hey nige? thanks again buddy!! Link to post Share on other sites
jims13 6 Posted September 21, 2009 Report Share Posted September 21, 2009 none for me... got a cc that i pay off every month.. no loans apart from my mortagage on my house.. and my kid Link to post Share on other sites
rodney 17 Posted September 21, 2009 Report Share Posted September 21, 2009 folks don't mean to preach here... It is good to have a minimal amount for your credit rating. The ability to make regular payments to your credit card is part of your credit worthyness...So get a card and keep £20-£50 pounds on it. Then pay minimum monthlys.... then clear anything you do buy month by month save, of course, the minimum amount you decide upon. For those who are looking to get mortgages etc then you need to show a history of being able to do this kind of payment... Depending upon who you go through and how much you want for such services then your last 5 years are usually a minimum level through to your entire lifes credit historyNo History ...No or limited credit rating...It pays to have a managed level of Debt.... Link to post Share on other sites
jims13 6 Posted September 21, 2009 Report Share Posted September 21, 2009 thats a fair point, we had this issue when i first got together with lisa my wife.. she had never had a bank card .. so getting anything was hard.. i had to put her on my bank accounts to boost her rating Link to post Share on other sites
anna 0 Posted September 23, 2009 Report Share Posted September 23, 2009 just 4k low rate loan on the bike for me Link to post Share on other sites
Dave_ciw 507 Posted September 23, 2009 Report Share Posted September 23, 2009 I ave a cc which i use as a back up incase i get stuck somwere and my insurance is on tick @ 1K a year then my 3 daughters manage to destroy whatever money is left each month ;( Link to post Share on other sites
VR6Nat 9 Posted September 23, 2009 Report Share Posted September 23, 2009 I have an overdraft of 1k but that isnt a problem, i had a 1.5k loan at 18 i paid that off within 2 years and i have a mobile phone contract iv had since 18 and never missed a payment and car insurance for 7 years on monthly payment and never missed that either....I have the banks trying to force money down my neck, but i hold off cuz i am just about getting by!! haha. Link to post Share on other sites
VR6Pete 1,455 Posted September 23, 2009 Report Share Posted September 23, 2009 I dont have a single dept at present. just 95k mortgage as I put 10k deposit down on my house and supporting a family of 4.£150 overdraft limit.Had a loan of 6.8k for my first Golf VR6 and Schrick VGI inlet manifold.Loaned 1.5k off nigel for when I crashed my car at the Nurburgring so I could pay my fine off and be allowed to have the paperwork for my car back.I paid off the last of my loans before buying my house last year, as I was made redundant from my last job and got a cushty payout. I've never owned a credit card.If you dont have the means to run up a debt, you wont get into dept... not having a massive overdraft, credit cards do help you manage your money better, and a decent job always goes down well!! Link to post Share on other sites
Miss-Vw 2 Posted September 23, 2009 Report Share Posted September 23, 2009 This thread is quite interesting actually. My debt consists of a £1,750 loan that I got out last year to go towards my first VR6. Then got a small credit card with a £500 limit, didnt really intend on using it until I lost my job early in the year and lived off of it which was a bad idea! I was planning on topping up my loan after xmas this year for another £3k which would fund my Schrick investment, but considering I managed to save up just over £1k in 2 months, Im just trying to save up now as much as I can instead of getting into more debt.I always pay my insurance monthly which is usually around £110 for the VR6 but Ive been told this doesnt affect your credit rating in any way because it is not a fixed loan agreement. Link to post Share on other sites
Guest The Butcher Posted September 23, 2009 Report Share Posted September 23, 2009 60 quid fixed penalty as of this morning!!!! Link to post Share on other sites
jesterwalker69 0 Posted September 23, 2009 Report Share Posted September 23, 2009 What for Chris? Link to post Share on other sites
Guest The Butcher Posted September 23, 2009 Report Share Posted September 23, 2009 bus lane!!!Certanly wasn't for speeding lol Link to post Share on other sites
hvr6 88 Posted September 23, 2009 Report Share Posted September 23, 2009 doh!!! Link to post Share on other sites
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