mikeyjh
Well-known member
Blimey, that's pretty much me, kudos to you!I left school at 15, did some really stupid stuff and got into debt when I was young and never ever considered my pension until I was 40. But I did learn from my mistakes
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How much debt you in ?
- Thread starter Napper
- Start date
- Jul 10, 2003
- 25,876
I paid silly amounts of money in commission for a couple of DB transfers with the Government required reports, but it was the right thing to do. The trouble is everyone's situation is different and what works for one, definitely doesn't work for another.
It was always DB good, DC bad, but I really wouldn't know what advice to give
This sounds very familiarI left school at 15, did some really stupid stuff and got into debt when I was young and never ever considered my pension until I was 40. But I did learn from my mistakes
Although I did keep a roof over my head from 20, which is starting to look more and more like a very good move.
- May 8, 2018
- 9,274
Normally 10% of balance per year whilst in a fixed period
Mine with Nationwide is 10% of the original sum per year.
Mo Gosfield
Well-known member
- Aug 11, 2010
- 6,285
In business I owe about £140k. In my personal life, very little.
( Divorce and an unwise investment cost about £440k )...( Money spent on BHA in 58 years.....ouch...!! )
( Divorce and an unwise investment cost about £440k )...( Money spent on BHA in 58 years.....ouch...!! )
We're fixed until Oct '25 at a very low rate, I'd be foolish to change that, but looked and can pay off 10% a year
thing is, I'm probably better off putting it in a savings account at the moment.
Well, that's to be expected.Either everybody is brilliant with their finances OR the ones who are shit are staying well clear of this topic ! Never seen so many goody goody financial wizards on here before
But people are going under financially now for sure, and hopefully this thread at some point will show they are not alone and that it is not hopeless.
We're fixed until middle of 2028 at a low rate for a 10 year fix, but does mean until very recently it was still high enough to mean it was better to overpay than put everything into savings. While interest rates were so low that savings were pointless (other than for providing an emergency buffer) we pumped as much as we could into over paying. Now got the mortgage low enough that we may as well finish the job, exit early, and free up the budget (for purposes I listed above). Will just make life so much easier not having that massive lump coming out of the account every month. We've got 4x regular saver accounts (2 each at 2 different banks) that mature at the right time to simply take the money from those and dump into the mortgage. Then we'll open new 12 month regular savers and do the same again next year.
Looks like the Financial Conduct Authority is after me !
"
LEGAL NOTICE OF ATTACHMENT OF EARNINGS
Greetings ,this is Evelyne Dewolff from FCA (Financial conduct authority). Hope you are doing properly. I just would really like to inform you that we have were given a legal complaint towards you from your lenders in which you aren't making the contractual bills or coping with just minimum payments towards them.
So this is why those creditors have approached us with the intention to get the “CCJ” action against you. So that they can have the attachment of earnings together with your income of £464.36 every month for these accounts with your income from this month itself, so they can cowl all of the cash out of your side asap due to the fact as per the lenders they gave you sufficient hazard to get the preparations done via the authorities assist referred to as an "IVA" but you refused to get that help and now they are seeking to have felony movement towards you.
If you do no longer want to have any type of felony lawsuits and you're suffering together with your monetary situation and need to get those money owed taken care of, you do have "3 alternatives" left for your self from these creditors other than the CCJ.
If you want to sort-out those money owed. We can switch you to our help desk group to get your budget again on target.
Hope to get a respond soon from your side.
Type Regards!
Enforcement supervisor"
Lololololololol.
"
LEGAL NOTICE OF ATTACHMENT OF EARNINGS
Greetings ,this is Evelyne Dewolff from FCA (Financial conduct authority). Hope you are doing properly. I just would really like to inform you that we have were given a legal complaint towards you from your lenders in which you aren't making the contractual bills or coping with just minimum payments towards them.
So this is why those creditors have approached us with the intention to get the “CCJ” action against you. So that they can have the attachment of earnings together with your income of £464.36 every month for these accounts with your income from this month itself, so they can cowl all of the cash out of your side asap due to the fact as per the lenders they gave you sufficient hazard to get the preparations done via the authorities assist referred to as an "IVA" but you refused to get that help and now they are seeking to have felony movement towards you.
If you do no longer want to have any type of felony lawsuits and you're suffering together with your monetary situation and need to get those money owed taken care of, you do have "3 alternatives" left for your self from these creditors other than the CCJ.
If you want to sort-out those money owed. We can switch you to our help desk group to get your budget again on target.
Hope to get a respond soon from your side.
Type Regards!
Enforcement supervisor"
Lololololololol.
Live by the sea
Well-known member
- Oct 21, 2016
- 4,718
Was it postmarked India or Nigeria ?
Badger Boy
Mr Badger
- Jan 28, 2016
- 3,655
I have a near perfect credit rating, but I'm over 10k in debt. I manage it well but things have become tighter over the last year or so for sure, my year is a fairly consistent cycle of picking up a bonus in February which pretty much clears the balance on one card, which is almost £6k. I made a couple of bad choices this year which required a second loan on top of one which runs until August 2024. Once the first one is paid off, things will become easier generally assuming I've not needed another one before then - which I shouldn't. I don't do anything crazy, I've had some problems which have all but stopped my going to the games any more and my main non-rent and bills cost is the TV and Internet package but I get really good value from it so it's ok. I'm currently in a better run of form mentally which is important but I'm not where I had hoped to be at this stage of life, not that it really matters too much.
Pretty much clear now after 5 years of mad overtime and being careful.
Credit rating back up to a healthy score and I run a healthy credit card with a sensible limit.
But it wasn’t easy.
Credit rating back up to a healthy score and I run a healthy credit card with a sensible limit.
But it wasn’t easy.
Cheshire Cat
The most curious thing..
Is that £s, £'000s, or £000,000s
cjd
Well-known member
That seems very thoughtful and understanding of them.
I hope you responded positively ?
Lol - It's like a menu which only gives a number as a price.
Luckily it is single pounds.
HangletonGull
Well-known member
- Apr 10, 2023
- 1,388
I’m staying well clear of this thread
AmexRuislip
Trainee Spy 🕵️♂️
Mortgage paid off five years ago and don't owe anyone anything, apart from the usual utilities.
Have savings and pensions.
Have savings and pensions.
Colonel Mustard
Well-known member
- Jun 18, 2023
- 2,043
I used to be absolutely terrible with money. In the early 90s, I had credit card debts (about £5k), bank loans (nearly £10K), and zero savings. Then I met my wife — and she was horrified by the state of my finances. I didn’t even realise it. I thought it was normal as it had always been that way. She made see that interest payments were the same as just throwing money in the bin. She forbade me from using a credit card for anything until I paid off my debts. It took about 2 years, but since then I've had no debts, apart from a mortgage which I last paid in 2011. Cards get paid off every month. In fact pretty much everything goes on my debit card, and has done for years.
Believe me, I’m not being saintly and smug. I totally understand how debt happens. It helped hugely that for the last 25 years of my working life I finally started to get paid quite well. And that I got into a good habit of putting money regularly into ISAs and SIPPs, and was lucky to get the benefit of the 20-year bull market in stocks. So that when I retired last year, I found myself in a very good position. The only problem now, as discussed recently on the Inheritance Tax thread, I’m finding it quite hard to spend money. @dazzer6666* offered a good insight that made me think. So we’re already planning a couple of exotic holidays, and thinking about a new electric car to replace the (loveable) thing we've been driving for 17 years.
Debt is horrible. Do whatever you can to get it out of your life.
Edited *Sorry, wrongly credited to @Harry Wilson's tackle originally. I’m sure he could offer excellent financial advice too though.
Believe me, I’m not being saintly and smug. I totally understand how debt happens. It helped hugely that for the last 25 years of my working life I finally started to get paid quite well. And that I got into a good habit of putting money regularly into ISAs and SIPPs, and was lucky to get the benefit of the 20-year bull market in stocks. So that when I retired last year, I found myself in a very good position. The only problem now, as discussed recently on the Inheritance Tax thread, I’m finding it quite hard to spend money. @dazzer6666* offered a good insight that made me think. So we’re already planning a couple of exotic holidays, and thinking about a new electric car to replace the (loveable) thing we've been driving for 17 years.
Debt is horrible. Do whatever you can to get it out of your life.
Edited *Sorry, wrongly credited to @Harry Wilson's tackle originally. I’m sure he could offer excellent financial advice too though.
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