Oh the joys of debt...

The Sweeper

Have to have a minor celebration here, have just managed to finally pay off one of my many, many debts... never thought I'd see the end of it, and not only is it at an end, but they owe me 70 quid back on it, happy, happy day...

Now I just have to spend the next three years getting rid of the other three and I'm SORTED!!!!

Anyone out there who's in debt, and it's hurting, just remember, you'll never ever be in as much utterly useless debt as me.

(And if I can manage to pay these off, ANYBODY can...) :rolleyes:

Dr. Loon

i'm ina fascinating amount of debt. I'm not too worried though. I probably should be, but what's the point. I can just keep doing my best to pay it off......

OLDYELLAR

i know how you feel ,i got a loan to buy a scooter , the bloody thing is never ending , hey if you can pay off yours i guess there may be hope for me . ............. sure we can be in debt together spending our last dieing moments on boards .

Saruman

i have had 3 loans.. 2 i have paid off the other i could afford to pay off now but would leave me with no money.. besides i have to pay the interest anyway and am not paying €10k now..

Mercury_Tilt

This post has been deleted.

ToxicPaddy

Tis a class feeling when you finish paying a debt/loan off..

This year I'll have finally paid off my car and also a personal loan I got from the bank 3 years ago... so bliss...

now what else can I buy that requires a loan.????

Victor

Want to take up one of mine?

viking

Originally posted by Victor
Want to take up one of mine?

Wanna try mine?

30 years to pay off a six figure sum. Ok so its a mortgage for a house, but its scary to think that amount of money is owed by me and my gf to a bank!

Although I imagine that the feeling will be quite nice when we finish paying off that one :cool:

viking

ToxicPaddy

Originally posted by viking


30 years to pay off a six figure sum. Ok so its a mortgage for a house, but its scary to think that amount of money is owed by me and my gf to a bank!

Although I imagine that the feeling will be quite nice when we finish paying off that one :cool:

viking

Jeez I havent got that far yet... still only a young un and no need or want for a debt that size... maybe next year..

Most of my debts have been low, usually either 4 figure or a very low 5 figure loan.. the thought of a 6 figure mortgage is kinda freakin me out at the mo... :rolleyes:

Think I'll just stick with what I have and try and stay debt free for a year or two before I take the big leap into 30 years of debt with a mortgage...

LegacyUser

try paying off a 5 figure sum for a motor that is written off and scrapped now! kinda head-meltin'

viking

Originally posted by Unregistered
try paying off a 5 figure sum for a motor that is written off and scrapped now! kinda head-meltin'

Ouch, three words for you though...

Fully Comprehensive Insurance

viking

LegacyUser

folks motor... they wouldn't let me claim as it would have (supposedly) cost longer to all concerned in the long run! i trust the folks judgement! still though like a noose (spelling??) around my neck for next f**kin' 5 yrs! don't want to moan too much, but I reckon i will know how happy some others are once that is paid off!

Khynareth

5 figures for a car, another 4 years to pay
4 figures for a bass, another 6 months to pay...

Ah debts... I'm not sure if we really could live without them... If you think about it, even rich people get indebted... Why?

ToxicPaddy

Originally posted by Khynareth
4 figures for a bass, another 6 months to pay...

Jeez a dedicated musician there...

Dr. Loon

Took me 18 months to pay off a drum kit. Pretty much everyone's life is based on hire purchase I reckon... unless you're ludicrously rich.

ToxicPaddy

even the richest of the rich buy stuff on credit as the richer you are the more expensive things you want... whats the fun of only buying things you can afford..

Stephen

I owe AIB approximately €3500. Whee.

DapperGent

Still in debt to AIB for a €2500 loan to repeat a year in college.

What sucks is I didn't even finish the course. Bah Humbug! That €200 direct debit every month is a real kick in the chops.

Shinji

Bleh, about £6000 in debt if you add up all the cards, loans, hirepurchase... I don't like to think about it frankly

ykt0di9url7bc3

i owe nothing

i keep all my money underneath my mattress.

i'll prolly try and buy my first car through bags of hard cash

i hate having to borrow money, it disgusts me

Pepe LeFrits

Owe: €0
Owed: €20

Whieeee

Corega

So Searrard where's this wonderful matress at?:)

fi

I am in Deby but i dont let it worry me too much as there is nothing i can do about it quickly, all the debts i have are big ones, a car loan from the credit union which was a top up on the €9,000 i already owed for an attic conversion, then there is the ESB loan for an oven as the old one was broken, that cost me €1,000 and i have just put €300 on the visa for airline tickets and prior to that i had my car insurance on it €800 soon to follow will be my car tax €280 there abouts, and i bought a new tv €800

so why worry, worring wont get them paid off quicker but i pray every night for a lotto win!!! and i have tightened my belt, so no cash flow

I agree with Fi on this...
Forget about the loans-especially those tiny ones and even the mortgages.
It's grand when you can keep paying them, they'll eventually end.
Besides interest rates are at an all time low.
mm

smiles

Not in debt (yet), wondering slightly about the student loan i'm going to be taking out and then all the other things that i'll need to borrow for, any tips for the prospective debtee (or whatever the word is) ?

<< Fio >>

Victor

Originally posted by smiles
any tips for the prospective debtee (or whatever the word is) ?

The word is Debtor (op: Creditor). Tip: Don't, get a job that can tide you over for 6-9 months of the year.

gurramok

dont understand why people get 3yr+ car loans !
You end up paying alot more for the car than the car is actually worth, all that interest to a bank !
Why not save up your money for a year or so and then get the car(dont have to be new!), use public transport/bicycle/walk to work in meantime.
I'll never borrow money and have never done in the past, anything i want i save up for it.(mortgage might be exception in future!)
And also insurance whether its health/car(comp)/house is good way of avoiding debt when things go wrong.

azezil

Originally posted by SearrarD
i owe nothing

i keep all my money underneath my mattress.

i'll prolly try and buy my first car through bags of hard cash

i hate having to borrow money, it disgusts me

i'm the same, if i really want something i'll save for it, i don't see the point in geting a loan, in the end of the day it cost nearly twice as much. :rolleyes:

LegacyUser

Think about the people in China who get out 1000yr mortgages. Its not just them that have to pay it off, but their kids and grandkids and great, great great great grankids. AND by the time they get to pay it off, the apparent has disintegrated anyway. Hows that for a debt spiral!

SheroN

i asked my sister for a loan of €200....she gave me €300....does this mean i owe €200 or €300?

bonkey

Originally posted by SearrarD
i owe nothing
i keep all my money underneath my mattress.
i'll prolly try and buy my first car through bags of hard cash
i hate having to borrow money, it disgusts me

I hope you never want to buy a house. No saving history, no credit history. If you get a mortgage at all, you'll be charged top rate on account o fbeing such an unknown risk. Not to mention the 20 years of self-disgust you will have to suffer from having borrowed money.

I know a mate who was like that.
I eventually convinced him to borrow a few hundred to buy a TV he wanted in the January sales. The cost of the interest was less than the saving he made from buying in the sales. Ergo - borrowing cost less then saving for this particular tv. I cant see how this would disgust anyone.

He then took his car loan from the same bank, where he also had his long-term savings, his current account and everything else.

When he went to buy a house, not only did his bank give him a better offer than anyone else on the market, they also gave him a rate lower than the best rate they advertised.

Why? Because he was a good customer, and a good risk.

He reckons that the saving he's made on his mortgage is already greater than the cost of the interest on all the loans he's taken to date.

In short - borrowing more often has ended up saving him money - not costing him. Would that still disgust you, or do you simply intend to live in rented accomodation all your life?

jc

Morpheus

ARGH!!!

how can ANYONE save money!!!

I earn 1700 pm, o pay out 180 insurance pm (used to be 300 but i passed my test) 200 car finance and 250 housekeeping to my parents. Im hoping to start saving money for a mortgage, but how do i get out of my current situation?

I owe almost 700 euro on my credit card, next month ive a BLACK TIE wedding to go to and must stay in a hotel and ive company painbtball coming up, they pay me really sh*t money,but im in IT and its not a very stable job market at the mo.

I know im lucky to be working, i only got this job 4 months ago after 6 months unemployment during which i worked my ass off in a few different jobs in factories and warehouses so i wouldnt have to go on social welfare.

but now im earning a fair bit of money but i cant seem to stem the tide of outgoing cash, any advice or suggestions? ive been considering things like a second job (ive bar experience from college days) to selling the car, but my gf lives in meath and im the only one with access to my own transport.

HOW CAN i start saving cash again???

G

Originally posted by bonkey
I know a mate who was like that.
I eventually convinced him to borrow a few hundred to buy a TV he wanted in the January sales. The cost of the interest was less than the saving he made from buying in the sales. Ergo - borrowing cost less then saving for this particular tv. I cant see how this would disgust anyone.

Yes borrow if you're getting a mortgage but if you're just getting a TV it would make more sense to save a couple of hundred a week for a month than borrow or hire purchase.

hedgetrimmer

Originally posted by Minesajackdaniels
Have to have a minor celebration here, have just managed to finally pay off one of my many, many debts... never thought I'd see the end of it, and not only is it at an end, but they owe me 70 quid back on it, happy, happy day...

Now I just have to spend the next three years getting rid of the other three and I'm SORTED!!!!

Anyone out there who's in debt, and it's hurting, just remember, you'll never ever be in as much utterly useless debt as me.

(And if I can manage to pay these off, ANYBODY can...) :rolleyes:

Well done mate

I know that joy. Just cleared 2 loans after an interminable amount of time and have finally beaten my credit card. Huzzah!

Sleipnir

Ah all these
"I'll never have to borrow anything, I'll cycle to work and save up for a car!"
comments are just pants.
You cannot go through life without borrowing money, you just can't.
I'm sure most of you folks who say "I have zero debts" feel great (even though you probably still live with your parents)
I got a mortgage 3 years ago for 105,000
My house is now worth 250,000
So in 3 years I've made 145,000
Keep it under your mattress if you like, when you're forty, and still whining about the total amount of rent you've forked out for the 20 years for nothing, I'll have a house in the country and an apartment in the city!

Kalina

I've been paying off an €1,800 loan since February, only €600 to go and I should get that paid in the next few weeks. Problem is I'll need to take out another one to pay a deposit on a new house and to live on til the 1st grant payment at the end of October.
It's a vicious circle!!

gandalf

Hmmm debt yes well I currently owe a 5 figure sum and will do so for another 5 years. I consolidated alot of debt I had and cleared a credit card of nearly €6000 recently. I have had loans of one type or another since I was 20. I would love to be out of debt but in reality there are occasions when you need access to more money than you have availability to normally.

The only problem is money is disappearing alot quicker these days

Gandalf.

DaithiSurfer

520K in debt.
But if i sell my assets i'ld have about 400K profit.
Thing is when your assets appreciate like that you don't want to sell.
You get this urge to let it grow and grow until it crashes into **** and you end of having ONLY debt.
Time to get sense and cashed i think.

Dr_Teeth

I've just beaten my credit card after a year of it being near-limit and my uber loan is down to 3 figures now, should be gone before christmas woot!

Loans suck, I've learnt my lesson. From now on I'm going to do without until I've saved the cash I need.

Teeth.

Sposs

Mortgage
Car Loan
Credit Card (at its Max)
Credit Union Loan

My Attitude has always been F*ck it , we could all be dead tommorrow at least i can say i enjoyed myself

DaithiSurfer

Better to die oweing 100K then having 100K

Borzoi

Net worth alive: - €110K
Net worth dead: €300K

All I can do is

LoneGunM@n

I h8 the fact that I owe money to anyone!!

In the last 6 weeks I managed to pay c. €1000 to clear my credit card [no social life, called in all my lendings etc. etc.] & that was only the tip of the iceberg!!

I still owe a 5 figure sum to the credit union for my car [& for the money owed I should be driving a fecking M5 BMW], but I'm hoping to pay that off fairly quickly!!

& to top it all, I'm trying to organise a mortgage @ the moment!!

Vicious circle, I'd say it's a (vicious circle + vicious square + vicious rectangle) x 10 :mad: :rolleyes:

jammy_dodger

OMG all this debt........tut tut

I never have and never plan to get a loan (apart from maybe a mortage,ages away)
Why are you all running up such debt? Im saving for a moped at the moment, a loan never crossed my mind.
Stay away from loans.
Better off saving up.

Silent Bob

Originally posted by Kananga
I'm sure most of you folks who say "I have zero debts" feel great (even though you probably still live with your parents)

Zero debts, place in the centre of town 9 months of the year and an entire 5 bedroom house to myself during the summer.

Life is good.

Gordon

Zero debts! Definately not living with my parents.

I always knew that credit cards would drag me down, much prefer paying in cash for anything I buy and keep direct debits to a minimum. I can see how easy it is to fall into that trap what with all the products like cars and houses to buy. Renting accomodation is on one hand good for freedom and on the other bad for sheer costliness.

Sorry, just had to poke my debt free nose in as usual.

BrianD3

not in debt myself. Quite the opposite in fact I have loads of savings and am pi**ed off with how little interest I'm getting and how my stash is effectively worth less and less every day due to the high rate of inflation

So, right now is a very good time to be in debt. If you guys think its bad being in debt now, imagine what it was like in the early 80's when interest rates were nearly 20% p.a.

BrianD3

Hobbes

I've never been in debt. I hope I never will. I have my credit cards locked and set to pay off 100% at the end of the month. So there is a limit to stop me going crazy.

Getting a loan? Work it out, sometimes just waiting and saving works out a lot cheaper then having a debt for some years.

i asked my sister for a loan of €200....she gave me €300....does this mean i owe €200 or €300?

I think it means you owe her €100

Benbaz

Circle of Life???

More like Circle of Debt!!!

Sposs

Originally posted by jammy_dodger
OMG all this debt........tut tut

I never have and never plan to get a loan (apart from maybe a mortage,ages away)
Why are you all running up such debt? Im saving for a moped at the moment, a loan never crossed my mind.
Stay away from loans.
Better off saving up.

Whats the Point in Saving for a car or whatever for five years,you could end up dead the next day and you've missed out on five happy years with a car???

Above point sounds weird,but at the end of the day,banks,credit card companys etc can be used effectively to improve the standards of our lives ,it's all about being able to deal with Cashflow.

Big Chief

about €4000 i owe, mostly to the bank been paid off over 2 years, joy.....

suppose theres alot of people worse off, some are in this thread alone are alot worse off, so i suppose thats a bright side, if there is a bright side to debt at all..