# Debt!



## deanchilds

I was in a lot of debt and in a bad way and couldnt pay it off so had one of those moments where I thought I needed to do something about it.

This moment was 31st December 2008 and ive been working really hard to pay off as much as I can but still have a life and grow a business too. 

The debt now stands at £8000 and im really proud of myself! Was £22.5k. 

Debt dont have to be as bad as it fills, make it fun to see it reducing and you can get there no matter how much you owe!


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## Adam D

Well done.

What was your debt on 31st December 2008 if you don't mind me asking?

When I am out and about and I see loads of new cars, people with loads of shopping bags, etc. I reckon the only way people can afford it is through taking on loads of debt. It catches up with you in the end though.


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## deanchilds

I missed that off. Sorry. 

It was £22.5k.


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## rag1873

How did you manage to reduce it? How did you agree with everyone what to pay?


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## deanchilds

I just paid what I could when I could. Didnt agree anything with any of the banks. I had lots to pay family as well that was my priority. I know I should have cleared credit cards first but I hated owing family money when they needed it just as much as I did. Will have the rest of the debt cleared by end of the year. 

Someone said I could have gone bankrupt but I borrowed it and ill pay it all back and for the better I will come out the other side knowing its all worth saving up for things if you really need them you will wait.


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## Adam D

deanchilds said:


> I just paid what I could when I could. Didnt agree anything with any of the banks. I had lots to pay family as well that was my priority. I know I should have cleared credit cards first but I hated owing family money when they needed it just as much as I did. Will have the rest of the debt cleared by end of the year.
> 
> Someone said I could have gone bankrupt but I borrowed it and ill pay it all back and for the better I will come out the other side knowing its all worth saving up for things if you really need them you will wait.


Well done you, I like your attitude.

Going bankrupt/IVA is a lot more serious than some people think.


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## deanchilds

I havent been diagnosed as yet but I do actually have OCD and that has played a major part in getting in and out of debt so im thankful for it really.


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## kh904

Well done mate!

I've never had a credit card & I don't have any loans over my head.
I've only had 1 loan (interest free) for my car and that from from a family member, who i paid back faster than what was agreed. 
If i want something i save up, and if i want it by the time i've saved up then i buy it! You'll be surprised how many times that impulse to buy something goes by the time you've saved for it.

I hate the idea of being in debt, because I don't free, essentially you become controlled some what by the 'system'.

A lot of my friends & family take the right mick out of me because they see me as really tight with my money. I do buy myself nice things every once and a while, it's just I don't give into needless impulse buying.

It's funny because everyone calls me tight, but they always complain that they are stressed out and have no money, while they've gone out drinking, go on shopping sprees, holidays etc with borrowed money which they pay silly interest on.

Financially, I feel so stress free at the moment, but I know that it will soon change as i'm looking to buy first home, and that means getting a mortgage!
Again, i'm not going to be rushed/pressured into buying (being told that property prices only go up, can't lose etc by those with vested interests), and i'm realistic on what I can afford. 

While I wait, i'll just continue to save a bigger deposit 

A good idea (what i do), is to set up an excel spreadsheet for the year (broken down monthly) of income and outgoings (in categories). I can project what expenses i'll incur throughout the year - especially big payments ie car insurance which i pay in total, so I don't get caught out unexpectidly.
I also know what I can budget for!

Well done again! 
Glad to see that you're taking responsibility and not tkaing the 'easy' option out.


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## Finerdetails

no pun intended but, a credit to you  keep going!

Its not easy living to your means, I only have a mortgage, no other outstanding debt of finance, and people think I live like a king, no, I don't, but I do live to my means and hance dont have any debt like oh so many!


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## c16rkc

Well done mate, not many people can overcome something so daunting as a dept like that. You should be very proud of yourself!

Good luck with your future!!


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## ant_s

well done mate for doing it how you have done it, once it has been paid off i bet you will feel very proud of it. did you decide to put more hours in at work, or did you look at your outgoings and see where it was going and save from there?

and kh904, im like you aswel, i make sure that i have money saved and if i want something i will save for it and buy it if i feel i still want it enough.


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## deanchilds

I cut down and worked harder, luck had it that I had more calls for higher end details. So win win allround. Will be out of debt in next few months. Works going very very well as well. Don't even advertise anymore.


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## shane_ctr

Well done that is amazing should be very proud

Noticed a couple of comments of having no debt at all before, If this is the case and you come to apply for a morgage you will more than likely get refused, you will also have a very low credit score.

A good friend has a great job at BT and is on 38k a year at only 21, Never had credit card, loan or overdraft. He currently lives in a 3 bedroom house with his partner and there little 2 year old. He applied for a morgage and then declined he asked why and was told to check his credit report. he done this and it gave him a poor score. He rung them and asked why and there reply u have no history showing u can pay a debt back etc. He now has a credit card to buy his fuel on and pays it monthly and a year later he now has a good credit score and a morgage.

So have a little bit of debt is actually a good thing. :thumb:


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## ant_s

^^^ i was told this aswel when i was going to hire some tools for work, that i had no credit rating so i could not rent the tools, but i mean by having no debts, that i have no loans or anything etc


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## shane_ctr

ant_s said:


> ^^^ i was told this aswel when i was going to hire some tools for work, that i had no credit rating so i could not rent the tools, but i mean by having no debts, that i have no loans or anything etc


indeed so basically if you decide to get a morgage you more than likley to get declined.

get urself a credit card put ur fuel on it and pay it off monthly and you will get a good ratting:thumb:


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## deanchilds

Thanks for the tip!


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## The Cueball

Good for you mate!!

:thumb:


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## alan hanson

fair play to you if only others had that attitude things woulnt be in such a state.

As mentioned i dont think ive seen so many youngsters in new cars or peeps for that matter can finance must be through the roof. if your a tenager and have a 500 squid car like im sure most of us started with and your mates all have new cars thats hard to take


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## alx_chung

Well done mate! I am in the middle of doing a similar thing and whilst its shocking and daunting at first once you get going its a great feeling.
Congrats!
Alex


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## deanchilds

Cheers dude!


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## kh904

shane_ctr said:


> Well done that is amazing should be very proud
> 
> Noticed a couple of comments of having no debt at all before, If this is the case and you come to apply for a morgage you will more than likely get refused, you will also have a very low credit score.
> 
> A good friend has a great job at BT and is on 38k a year at only 21, Never had credit card, loan or overdraft. He currently lives in a 3 bedroom house with his partner and there little 2 year old. He applied for a morgage and then declined he asked why and was told to check his credit report. he done this and it gave him a poor score. He rung them and asked why and there reply u have no history showing u can pay a debt back etc. He now has a credit card to buy his fuel on and pays it monthly and a year later he now has a good credit score and a morgage.
> 
> So have a little bit of debt is actually a good thing. :thumb:


Yeah, i understand that it helps your credit score, but without any loans, credit cards and Direct debts (i have a Pay-as-you-go mobile), i was accepted for a mortgage (from Abbey).
If banks don't want to lend to me because i have no credit history, then it's the bank's loss of business!


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## Adam D

kh904 said:


> Yeah, i understand that it helps your credit score, but without any loans, credit cards and Direct debts (i have a Pay-as-you-go mobile), i was accepted for a mortgage (from Abbey).
> If banks don't want to lend to me because i have no credit history, then it's the bank's loss of business!


I am a credit risk manager who works for a bank and I would not lend money to anyone who does not have some track record of being able to borrow and repay debt.

There must have been something else favourable in your application.


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## deanchilds

I should be able to get a half mill loan soon then yeah?


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## Adam D

deanchilds said:


> I should be able to get a half mill loan soon then yeah?


Aye!

Keep it up and soon you will be debt free!


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## deanchilds

Will do! Hopefully sooner rather then later!


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## kh904

Adam D said:


> I am a credit risk manager who works for a bank and I would not lend money to anyone who does not have some track record of being able to borrow and repay debt.
> 
> There must have been something else favourable in your application.


I'm baffled what it could be that's in my favour, other than i'm very very good at saving, and have built up a nice deposit, no dependants, steady job (in the same job for 7 years) etc.


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## gally

Just want to say well done and it's nice to share stories like that.

I always think back to the amount of money I wasted on crap and think if I knew what I know now back then i'd be very well off but i'd probably have missed out on some fun stuff!

Keep up the good work though!


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## Gruffs

I know that feeling buddy.

Mine was 17.5K now down to 6K. All through hard work and saving. I could have done it quicker but life gets in the way somewhat and i wanted to save for the rainy days as well as repay.

All in all, i'm much happier being a scrooge than i was being loose with my money.


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## zetec_paul

Well done that's a massive reduction in such a short space of time. I'm guessing your single with no kids?


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## deanchilds

I'm not single but I don't have any kids. I've still had a holiday and still got sky. Blackberry etc so still could have got there quicker I guess but as said I still need a life. I don't drink or smoke so my outlet is technology.


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## puss

nice one , what did u get for £22.5k ?? anything nice ?


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## deanchilds

Yeah lots of holidays, few to florida and paris too! Last trip to florida we spent £5k! ouch! 

Still it was all worth it for the fun but not worth the interest tho! Still at least I can say ive lived and I make more money then most my age and more then most older then me so If I am in debt with the money I earn then something is wrong! Another few months and it will all be sorted.


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## deanchilds

Like your user name btw, is it a nickname or something?


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## james_19742000

We were in a similar way to be honest, credit cards, bank loans, catalogue etc but have spent the last 2 and a half years making a real effort to reduce it, as long as things carry on as we are then by July 2012 we will be debt free and about £500 a month better off! Cant wait for that day to come, but we have also been saving for when we wanted things, kerbed back on our spending etc etc and its amazing how much better you start to feel in yourself when you see those balances coming down, more money in your pocket each month, going and buying a car in cash without credit etc etc makes things seem worth all the effort! So well done on your efforts so far!


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## aledjones_lex

this makes me feel a bit better i currently have about 18,000 in debt car bank overdrafts phone contracts sky bt and small loans tbh it was about 16 but interest from ignoring it all has put it up somewhat its hard trying to tackle it all and i am taking the easy way out with bankruptcy because my minumum wage 40 hour week isnt enuff to pay for my car house 2 kids and pay my debts off 


oh and am 21


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## quattrogmbh

Well done mate.. An inspiration to many I'm sure.


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## deanchilds

Cheers!


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## deanchilds

Now TOTAL £7330.12


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## SubtleAggressiv

Well done! Proves almost anything is possible with the right attitude and the determination to see it through.

Best of luck for the future :thumb:


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## Rundie

Well done, good to see you didn't take the easy route.
Simple really, you borrow it then you pay it back, don't go crying to the courts because you can't pay it back, those people should think before they borrow.


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## rds1985

Rundie said:


> Well done, good to see you didn't take the easy route.
> Simple really, you borrow it then you pay it back, don't go crying to the courts because you can't pay it back, those people should think before they borrow.


Agreed but the banks are hardly blameless


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## deanchilds

Latest update on debt is TOTAL £7142.03


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## Techgeek

Good work! Nice to read about people making progress, **** the recession and be the author of your own destiny eh?
If you need some inspiration to keep the effort up I can wholeheartedly recommend listening to Dave Ramseys audiobooks the total money makeover and the audio that goes with financial peace university and listen to his radio show podcast, Lots of useful information on the how and why of dumping debt and building wealth through investment.


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## empsburna

Techgeek said:


> Good work! Nice to read about people making progress, **** the recession and be the author of your own destiny eh?
> If you need some inspiration to keep the effort up I can wholeheartedly recommend listening to Dave Ramseys audiobooks the total money makeover and the audio that goes with financial peace university and listen to his radio show podcast, Lots of useful information on the how and why of dumping debt and building wealth through investment.


"Drive free, retire rich"

Pretty simple stuff when you think about it, but it isn't half eye opening!


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## ipwn

I've always been a firm believer in don't spend money you don't have.


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## ipwn

rds1985 said:


> Agreed but the banks are hardly blameless


LOL, obvious joker is obvious !


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## deanchilds

Just a quick update to say debt is now £6100. Will be down to £5.5k before week is out.


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## The Cueball

It will be zero before too long mate, keep up the hard work!

:thumb:


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## Guest

very well done mate `!!!


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## deanchilds

Cheers chaps! Would be less but getting my van sorted at long last is using up a few quid, but in this game a decent looking van can attract a lot of work! 

Hopefully ill be able to show it once its all done and I can afford to pay the £200 supporters fees.


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## deanchilds

Now £6083!


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## big ben

deanchilds said:


> Now £6083!


fair play :thumb:

i have 4k on credit cards i need to clear and after buying a new house and kid on the way its hard work. i am going to start paying off 200 a month i think...

imagine how nice it will be when its zero, wont be for another 6 half years for me as i also have a loan going on :lol:


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## PugIain

deanchilds said:


> Now £6083!


Well done,hope you can keep on top and keep pulling it down.
Myself Ive never been in debt.
Im not flashy and can do without new cars and clothes and if I cant afford it I dont buy it,and its all with cash.I even whipped out 3k in the garage to buy my pug.
Only thing I keep a credit card for is when I buy things online for some protection and I never run a balance its always paid straight off.
I think some people who are frivolous with money want slapping,my mate is such a useless *** with his money he couldnt afford to come for a pint last night for my 30th.


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## Trist

Good man :thumb:

I had 4k on my Lloyds CC which I had to resort to when I had expensive problems with the old VXR, so decided to work hard in work and get a nice bonus and I paid it all off in a month! Was happy  Thats £80 less going out per month


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## deanchilds

Now £5654.42


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## Spoony

Good on you, it's far too easy to rack up debt nice to see your on top of it.


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## adlem

Really well done - prooves it's possible to do without crippling yourself or taking the easy way out.

I can't claim to be perfect - my car's on finance and i owe my parents some money but the key's to be sensible with money.

I'm going to get a credit card i think but only as a backup in case of an emergency - if i find i fall into the trap of putting everything on it and not being able to pay it off the following month it'll have to be cut up :thumb:


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## deanchilds

Not been able to move much on the debt due to needing to pay out for quite a bit these last few months and been stock buying stuff for work. 

Being off from work dont help but hoping to get back soon. 

Really want to get myself a 3dtv for xmas but feel I dont deserve one until I have paid off all my debt no matter how long it takes.


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## Pezza4u

Well done mate for reducing it this much :thumb: Any tips on how you did it as I need to clear my cards or at least reduce them? I always do balance transfers to keep the interest off or as low as possible. Think I'm gonna need a better paid job though TBH as once I've paid out for essentials (rent, council tax etc) I don't have much left over at the end of the month


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## nick_mcuk

Pezza4u said:


> Well done mate for reducing it this much :thumb: Any tips on how you did it as I need to clear my cards or at least reduce them? I always do balance transfers to keep the interest off or as low as possible. Think I'm gonna need a better paid job though TBH as once I've paid out for essentials (rent, council tax etc) I don't have much left over at the end of the month


Spend what you can afford...if you cant afford it dont buy it....I have gotten my 75k of personal debt down to about 20k now....its hard but cut the cards up and dont spend what you aint got!


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## deanchilds

Pezza, you just need to cut out the luxury's I guess. Saying that I didnt really and still manged to get the debt down. I have slacked since summer to be honest but willing to put in the extra effort now to get the debt wiped once and for all. 

I dont think ill ever be as pleased with myself once its all gone.


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## Pezza4u

Wow £75k of debt!! :doublesho

Unfortunately my debt started off from uni, once I finished my degree I moved in with the missus so my outgoings jumped. I had planned to pay off my cards when I still lived at my parents but obviously that didn't happen. My debt is no where near what yours or Deans was though, it's under £8k...I have no mortgage, car loans, store cards etc, just the cards.

I would love to say I spent it on stuff for myself (of course some of it is) but the majority is from food shopping, fuel, insurance etc. Anything I want I always pay by card (for the protection) but pay it straight off as I save the money first. I don't use it unless I really have to, I have always been careful with my money but not having a payrise for the last few years and everything going up has taken it's toll.

Think it's time to look for a new job in the new year with more money so I have some extra cash at the end of the month. That's the only way I can see me doing it but I'll get there eventually :thumb:


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## RP84

Well done mate. your doing really well

Did you take out a consolidation loan ?


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## The Cueball

nick_mcuk said:


> Spend what you can afford...if you cant afford it dont buy it....I have gotten my 75k of personal debt down to about 20k now....its hard but cut the cards up and dont spend what you aint got!


I hope you had a good time on the 75k...

wow!

:thumb:

Not meant as a dig by the way


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## Gruffs

Well done Dean. Keep at it.

I've just gone and got myself a whole heap of debt and bought a house. It's going to take me a lifetime to get out of this mess.


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## big ben

big ben said:


> fair play :thumb:
> 
> i have 4k on credit cards i need to clear and after buying a new house and kid on the way its hard work. i am going to start paying off 200 a month i think...
> 
> imagine how nice it will be when its zero, wont be for another 6 half years for me as i also have a loan going on :lol:


My nan bless her passed away recently and left me 5k... so that has paid my credit cards off and left me with just a loan. So lucky hey, would of been a nightmare trying to pay them off, credit cards aint good most of the time


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## nick_mcuk

The Cueball said:


> I hope you had a good time on the 75k...
> 
> wow!
> 
> :thumb:
> 
> Not meant as a dig by the way


Oh hell yeah....was done over a few years mind....but fast cars fast women and luxuary holidays.....watches clothes etc....


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## Pezza4u

nick_mcuk said:


> Oh hell yeah....was done over a few years mind....but fast cars fast women and luxuary holidays.....watches clothes etc....


I dread to think what the minimum repayment was on £75k or did you come to an arrangement? If you don't mind me asking!

Talking to a mate at work about debt and he said a mate of his owes £65k on 3 cars he bought. They were obviously well out of his budget so got loans to buy them, couldn't afford to run them so had to get rid and now owes all this money back!!


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## nick_mcuk

Pezza4u said:


> I dread to think what the minimum repayment was on £75k or did you come to an arrangement? If you don't mind me asking!
> 
> Talking to a mate at work about debt and he said a mate of his owes £65k on 3 cars he bought. They were obviously well out of his budget so got loans to buy them, couldn't afford to run them so had to get rid and now owes all this money back!!


It was over a load of cards and loans....

I started off with a debt management company but they turned out to be a load of idiots who didnt pay my debtors.

I took charge and created agreements with them all indiviusally.

Did a load of partial settlements on the majority...MBNA loan with 10k outstanding they too 50% to settle it there and then....credit card was a similar story....Amex took a 65% of the outstanding ballance. You just have to play hard ball with them...and I know it was my fault but lets be honest the credit comapnies were as much to blame allowing debts to get that high in the first place....

I had come into some inheritance so that helped.....to be honest i wish I had never gotten into the situation in the first place....but you live and learn.


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## Defined Reflections

Im a firm believer if you cant afford to pay cash ( apart from a house of course ) dont buy it
Everything ive done has been with no credit, i have no business loans or overdraughts(sp?),sometimes im temped so i get my mk2 escort finished but i always resist and i believe it will be done one day


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## nick_mcuk

Defined Reflections said:


> Im a firm believer if you cant afford to pay cash ( apart from a house of course ) dont buy it
> Everything ive done has been with no credit, i have no business loans or overdraughts(sp?),sometimes im temped so i get my mk2 escort finished but i always resist and i believe it will be done one day


Oh yeah thats how I live now....no money cant have it!


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## Guest

alan hanson said:


> fair play to you if only others had that attitude things woulnt be in such a state.
> 
> As mentioned i dont think ive seen so many youngsters in new cars or peeps for that matter can finance must be through the roof. if your a tenager and have a 500 squid car like im sure most of us started with and your mates all have new cars thats hard to take


thats my story, doing a serious bit of saving up so i can get something to be half proud of.


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## shane_ctr

Defined Reflections said:


> Im a firm believer if you cant afford to pay cash ( apart from a house of course ) dont buy it
> Everything ive done has been with no credit, i have no business loans or overdraughts(sp?),sometimes im temped so i get my mk2 escort finished but i always resist and i believe it will be done one day


That's a great way be but when you come to get ur 1st hose and u have never borrowed then you will not get a mortgage due to bad credit rating, I just have a credit card and pay it off, Crazy i know but there like to see people with small debt making payments


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## Mini 360

I save and save to buy stuff not buy now pay later as my pay changes every month depending on the overtime I work. Not only that I HATE being in debt. Even if I borrow £20 from my parents its paid back by the end of the day, thats how bad I am!

I feel by saving over a period of time to get something you really want you appreciate it much more as you know you have had to work hard for it. But maybe thats just me.....however getting a credit card and paying it off every month is a great way to boost a credit rating although I haven't done this yet.


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## deanchilds

Will be out of debt by the end of March! Going really really well!


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## Ben_ZS

Great news Dean.

Are you still going to carry on the way you have been, saving the same amount you have been paying off?


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## deanchilds

Yes mate, the plan is to then save £30k between the 2 of us for mortage deposit.


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## Ben_ZS

deanchilds said:


> Yes mate, the plan is to then save £30k between the 2 of us for mortage deposit.


Must have taken some will power, fair play mate, :thumb:


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## deanchilds

Yeah it has, god knows where id have ended up if I hadnt managed to get the business I have now. I am very grateful for all the custom I get as that has helped me along the way.


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## centenary

Defined Reflections said:


> Im a firm believer if you cant afford to pay cash ( apart from a house of course ) dont buy it
> Everything ive done has been with no credit, i have no business loans or overdraughts(sp?),sometimes im temped so i get my mk2 escort finished but i always resist and i believe it will be done one day


That's your opinion and good luck to you mate. But, the issue about 'debt' or rather taking a loan to buy something is responsibility.

Unfortunately, a number of people dont ever take responsibility for their actions, whether that be borrowing, driving or other everyday actions. Or at least they dont take responsibility until they are up to their eyeballs in debt, which they took on because they've wanted to impress others.

Most of the time, I pay cash for things or buy on the card for the convenience and protection when spending over a hundred quid.

I always pay off my card bills. I use loans to buy cars (it sometimes works out cheaper than using your own money) although paid cash for my e46 and my wife's zaffie.

My advice is yes, use loans but only what you can afford. If people have maxed out their credit card(s) they should deffo not take out any loans even to pay back those bills.

Beep, beep :driver:


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## the_names_james

Money = Debt
Debt = Money

and skip to 1:50 to see how money is created out of debt.


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## Mirror Finish Details

I paid for a new car today with my bank card. What a feeling to pay £12k for my new motor and know I own it, no loan no credit. Been saving for 3 years for this.

Yummy, can't wait to give the new, well 2007 530d a good blast.

I only have an Amex card that I pay every month and her in doors lets me have a pre paid Visa card.

Now just to pay off the £70k on the mortgage.


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## RedUntilDead

Mirror Finish said:


> I paid for a new car today with my bank card. What a feeling to pay £12k for my new motor and know I own it, no loan no credit. Been saving for 3 years for this.
> 
> Yummy, can't wait to give the new, well 2007 530d a good blast.
> 
> I only have an Amex card that I pay every month and her in doors lets me have a pre paid Visa card.
> 
> Now just to pay off the £70k on the mortgage.


will you live thaaaat long


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## deanchilds

2 weeks from becoming debt free!


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## ITHAQVA

Well done mate, its nice to hear good news for a change :thumb::thumb:


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## kh904

shane_ctr said:


> That's a great way be but when you come to get ur 1st hose and u have never borrowed then you will not get a mortgage due to bad credit rating, I just have a credit card and pay it off, Crazy i know but there like to see people with small debt making payments


That's not true. 
I've never had a loan from a bank (borrowed some money from family once) & only have 1 DD payment that goes from my current account (one lump payment for car insurance).
I'm a heavy saver!
I have had mortgages agreed on principle (about 5 times my salary) only 6 months ago. The guy said the system gave me an A credit rating.


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## kh904

the_names_james said:


> Money = Debt
> Debt = Money


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## Defined Reflections

Mirror Finish said:


> I paid for a new car today with my bank card. What a feeling to pay £12k for my new motor and know I own it, no loan no credit. Been saving for 3 years for this.
> 
> Yummy, can't wait to give the new, well 2007 530d a good blast.
> 
> I only have an Amex card that I pay every month and her in doors lets me have a pre paid Visa card.
> 
> Now just to pay off the £70k on the mortgage.


You should have saved a bit more and gone for the 535d ive heard they are awesome,and get them chipped even better,still very nice i had a 330d touring :thumb: easy to drive hundereds of miles without feeling worn out :lol: quick and good mpg aswell


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## deanchilds

Will be all done by the end of this coming week!


----------



## ant_s

Well done Dean, must feel good


----------



## gally

Well done mate, better man than most. 

Good feeling being debt free mate.


----------



## Ben_ZS

Fair play mate, bet your so relieved!

I worry when there's £300 on my credit card.....


----------



## Scatty

deanchilds said:


> Will be all done by the end of this coming week!


Well done mate !!! It will be such a nice feelimg. You should now make out that u are still trying to pay off some of the debt and start to save for a raining day.


----------



## deanchilds

Well ive now got to save £30k for mortgage deposit but that should hopefully be easier as wont have so much to pay out each month so most of what I earn can go away as business supplies are well and truly sorted for now!


----------



## Scatty

deanchilds said:


> Well ive now got to save £30k for mortgage deposit but that should hopefully be easier as wont have so much to pay out each month so most of what I earn can go away as business supplies are well and truly sorted for now!


Thats good planning mate !!


----------



## deanchilds

£30K sounds a lot but when you put your mind to it and work hard it can be done! 

Ive given myself a year to be able to get my first house and its not going to be in London I want out!


----------



## ant_s

Yeah £30K does sound alot for a year really lol, really hope you do it though mate, i'm sorting out my mortgage now, well not now exactly. lol


----------



## RedUntilDead

deanchilds said:


> £30K sounds a lot but when you put your mind to it and work hard it can be done!
> 
> But I dont earn anything close to 30K a year before tax so how so:tumbleweed:


----------



## deanchilds

There is 2 of us me and the missus.


----------



## davZS

I'm really happy for you, after coming from 22.5k in debt to now thinking about a house is a massive step well done to you sir. I hope everything from now on in all goes your way :thumb:


----------



## deanchilds

Cheers for your kind words! 

I am very target driven and if I set myself a goal I do what I can to meet it! 

As a treat for clearing the debt we are off to Florida for 2 weeks in Sept then when we get back for at least the next 5 years its going to be hard graft starting our first home and hopefully family!


----------



## davZS

Florida I love it there , I've just got my first house I've been very lucky got a good job straight from school and at 21 was able to buy a a 3 bed semi, at first it was scary thinking will I be able to pay the bills ect.... But now at 22 me and my girlfriend have been in the house 8 months and loving it best move Ive ever made.

You do come across as a driven person I dare say 95% of people would have just thrown the towel in but you stuck it out and made it through so good on you, like I said I hope all works out for you and your misses mate all the best .


----------



## Scatty

oh Florida its the best place i am so jealous u are going there. Yes i am trying very hard to save and get deposit too for house as i hate renting and want to get me own place.


----------



## raitkens83

deanchilds said:


> Cheers for your kind words!
> 
> I am very target driven and if I set myself a goal I do what I can to meet it!
> 
> As a treat for clearing the debt we are off to Florida for 2 weeks in Sept then when we get back for at least the next 5 years its going to be hard graft starting our first home and hopefully family!


Well done with the debt.

When about in September you going Dean? We are off there again on the 10th September for 3 weeks.


----------



## deanchilds

We going on the 4th for 2 weeks staying on Idrive!


----------



## Leemack

deanchilds said:


> We going on the 4th for 2 weeks staying on Idrive!


Were off to International drive in August for 3 weeks :thumb:

Can't beat good ole florida.

Congrats on the debt mate


----------



## deanchilds

Guess everyone is doing the parks?


----------



## Leemack

deanchilds said:


> Guess everyone is doing the parks?


Yup as per usual :wall:

Every year the kids want parks, one of them is 19 nearly and even he wants to go to Shamu :lol:


----------



## deanchilds

lol! Im 28 and I love disney am disney mad! 

Dont tell anyone on here........

Oh wait a minute!


----------



## kh904

Check out www.getoutofdebtfree.org

You can lawfully get wipe away credit card & bank loan debt - it's not a bankruptcy. 
Check out the info for the reasons why you don't have to pay it back (the bank/card company is committing fraud & there's no contract).

;-)


----------



## deanchilds

I spent it mate so Ill pay it back. 

Thanks anyway.


----------



## kh904

deanchilds said:


> I spent it mate so Ill pay it back.
> 
> Thanks anyway.


No problem.

But what have you spent? Money? You'll find that they haven't lent you anything, only what YOU have created with your signiture.

They also tell you how to cancel parking tickets too (including council issued ones).

:thumb:


----------



## nick-a6

Weldone on the debt mate, I myself am at the start of clearing all my debt at start it does feel very very daunting looking at the amount and thinking ****!


----------



## Tricky Red

deanchilds said:


> I spent it mate so Ill pay it back.
> 
> Thanks anyway.


Thank God that someone has a conscience. Too many easy bankrupts in this country.


----------



## davies20

Tricky Red said:


> Thank God that someone has a conscience. Too many easy bankrupts in this country.


Agree with this...

A woman at work has declared herself bankrupt. Simply because her & her fella were both ****ing other people behind each others back, even though they both kind of knew. She wanted to leave him, but didnt want to take the debt with her, so declared bankrupt, left the debt to him, so then he could only do the same.

She now has a council house, a new bank account, and spends her wage quite lavishly - new furniture, cloths, phones etc.

It annoys the hell out of me, because they couldnt keep there legs shut, we as a country have to pay for it.

Sorry for the rant! Well done on being a MAN and paying it off.


----------



## kh904

Tricky Red said:


> Thank God that someone has a conscience. Too many easy bankrupts in this country.


I understand your point of view where you are coming from, but it's mainly the banking system that lack conscience. 
I'm not condoning not paying back money someone has lent & have spent, but banks don't lend you money, it's created out of thin air (simple book-keeping entry) & they charge you interest on it!

The banks are acting fraudulently (there's no 'consideration') when they give out loans & credit. The banking system in it's current form has bankruptcy as an inevitable consequence. It's 100% impossible not to have bankruptcy as there's never enough money in the sytem to pay every outstanding loan.

Why do you think we are in recession? A 'credit-crunch'! There was never & is never enough money to pay back the loans. People are losing jobs for no fault of their own, but as the result of the banking system doing what is was designed to do.

There's a thread on the off-topic: 'money & the financial system' which i goes into it in depth which is recommended, aslo look into the reasons for the great depression in the US.

:thumb:


----------



## raitkens83

deanchilds said:


> We going on the 4th for 2 weeks staying on Idrive!


Cool, any plans? Disney etc? We are staying in davenport which is about 10 minute drive from idrive.


----------



## Tricky Red

I understand what you are saying but I disagree. The OP has made a conscious effort to reduce his debt and hats off to him for this. He has addressed it head on and come through it. Genuinely well done to him. 

The banks have made a complete mess of the lending system. They have lent ridiculous amounts of cash to people and organisations that cannot afford to pay it back - simple. 

But, and I mean this; people should accept responsibilty for their borrowings. If you're on £10k a year and have a credit limit of £10k on a card and you rack it up, you should know you can't meet the obligations on time. Just because it's on offer, doesn't mean you have to take it. Insolvency is the inability to make full payments as and when they fall due. 

Common sense should prevail, but we live in a world where it's always easy to blame the lender, don't we?


----------



## Grommit

I'll ask a different kind of question as im a nosey fecker.

What did you buy or do to get into £22.5k worth of debt?


----------



## davies20

Grommit said:


> I'll ask a different kind of question as im a nosey fecker.
> 
> What did you buy or do to get into £22.5k worth of debt?


SEX, DRUGS AND ROCK AND ROLL BABY!!!

haha, if he says that now i would LOL!


----------



## Grommit

davies20 said:


> SEX, DRUGS AND ROCK AND ROLL BABY!!!
> 
> haha, if he says that now i would LOL!


hahahahaha no such thing as Sex Drugs and Rock n Roll anymore

These days its Aids, Crack and Techno....


----------



## kh904

Tricky Red said:


> I understand what you are saying but I disagree. The OP has made a conscious effort to reduce his debt and hats off to him for this. He has addressed it head on and come through it. Genuinely well done to him.
> 
> The banks have made a complete mess of the lending system. They have lent ridiculous amounts of cash to people and organisations that cannot afford to pay it back - simple.
> 
> But, and I mean this; people should accept responsibilty for their borrowings. If you're on £10k a year and have a credit limit of £10k on a card and you rack it up, you should know you can't meet the obligations on time. Just because it's on offer, doesn't mean you have to take it. Insolvency is the inability to make full payments as and when they fall due.
> 
> Common sense should prevail, but we live in a world where it's always easy to blame the lender, don't we?


I agree & totally commend the OP for taking his responsibility & borrowers do need to think whether they can afford to pay it back.

HOWEVER you are incorrect when you say 'They (the banks) have lent ridiculous amounts of cash to people and organisations that cannot afford to pay it back'.
As i've said, they DON'T lend CASH!!!! That's the fundemental problem that has caused the recession.

Look up you youtube 'money is debt' as a good explaination


----------



## Stevoraith

kh904 said:


> I'm not condoning not paying back money someone has lent & have spent, but banks don't lend you money, it's created out of thin air (simple book-keeping entry) & they charge you interest on it!


Do you seriously think it's ok to not repay a loan because you've never physically seen the cash?

So maybe sainsburys can come round to your house and take back all the groceries you bought with your debit card the other day? After all, they never saw the money. It doesn't really exist!

And you better take your employer to court- those wages that appear in your account are nothing more than a simple book-keeping entry- the money doesn't actually exist!

What an absolute load of nonsense, and the reason the country is in a financial mess.

Yes the banks lent too much to people who couldn't afford it but ultimately the reponsibility lies with people to make sure they can repay what the borrow. The attitude than you don't have to be responsible for your actions and that there will be a loophole or something else to get you out of what you knowingly signed up to is despicable and it is the real reason we are in a mess.

Well done Dean for taking responsibility, working hard and paying for what you spent. :thumb:


----------



## kh904

Stevoraith said:


> Do you seriously think it's ok to not repay a loan because you've never physically seen the cash?
> 
> So maybe sainsburys can come round to your house and take back all the groceries you bought with your debit card the other day? After all, they never saw the money. It doesn't really exist!
> 
> And you better take your employer to court- those wages that appear in your account are nothing more than a simple book-keeping entry- the money doesn't actually exist!
> 
> What an absolute load of nonsense, and the reason the country is in a financial mess.
> 
> Yes the banks lent too much to people who couldn't afford it but ultimately the reponsibility lies with people to make sure they can repay what the borrow. The attitude than you don't have to be responsible for your actions and that there will be a loophole or something else to get you out of what you knowingly signed up to is despicable and it is the real reason we are in a mess.
> 
> Well done Dean for taking responsibility, working hard and paying for what you spent. :thumb:


No disrespect but you need to look up how the financial banking sysyem works. Look up Fractional reserve banking/lending & then you'll realise that is the main reason why we are in a recession!
They are not lending MONEY (physical or electronic) when a loan or CREDIT card is taken out!!!
When you pay by debit card, you are paying with money (it's just electronically rather than paper/physical cash)
Even if everyone is 100% responsible and wanted to pay back all loans, it's 100% IMPOSSIBLE. If eveyone paid it back, there will be no money left in circulation

:thumb:


----------



## Grommit

Stevoraith said:


> Do you seriously think it's ok to not repay a loan because you've never physically seen the cash?
> 
> So maybe sainsburys can come round to your house and take back all the groceries you bought with your debit card the other day? After all, they never saw the money. It doesn't really exist!
> 
> And you better take your employer to court- those wages that appear in your account are nothing more than a simple book-keeping entry- the money doesn't actually exist!
> 
> What an absolute load of nonsense, and the reason the country is in a financial mess.
> 
> Yes the banks lent too much to people who couldn't afford it but ultimately the reponsibility lies with people to make sure they can repay what the borrow. The attitude than you don't have to be responsible for your actions and that there will be a loophole or something else to get you out of what you knowingly signed up to is despicable and it is the real reason we are in a mess.
> 
> Well done Dean for taking responsibility, working hard and paying for what you spent. :thumb:


Dude, If you are running as MP, let me know, I'll hand out badges and little colouring books to the kids. Im with you my man. :thumb:


----------



## Tricky Red

kh904 said:


> I agree & totally commend the OP for taking his responsibility & borrowers do need to think whether they can afford to pay it back.
> 
> HOWEVER you are incorrect when you say 'They (the banks) have lent ridiculous amounts of cash to people and organisations that cannot afford to pay it back'.
> As i've said, they DON'T lend CASH!!!! That's the fundemental problem that has caused the recession.
> 
> Look up you youtube 'money is debt' as a good explaination


Alright, it isn't cash, but it is repayable. :wall:


----------



## kh904

Tricky Red said:


> Alright, it isn't cash, but it is repayable. :wall:


Sorry but you are wrong. If they haven't lent you cash (whether it's electronic or physical) what have the banks lent you? Quite literally nothing!
Why do you think banks are going down/bankrupt?

There is no contract - Contract law is simply: a contract needs to have 2 signitures (the borrow & lender), but only the borrower signs the contract & there needs to be consideration passed between the 2 parties (nothing is exchanged) so there's no consideration 

Like i've said, look it up yourself


----------



## Grommit

kh904 said:


> Sorry but you are wrong. If they haven't lent you cash (whether it's electronic or physical) what have the banks lent you? Quite literally nothing!
> Why do you think banks are going down/bankrupt?
> 
> Like i've said, look it up yourself.


So what have they done KH, explain it to us obviously less educated than yourself people........


----------



## kh904

Grommit said:


> So what have they done KH, explain it to us obviously less educated that yourself people........


Check out the thread on the off-topic board:

http://www.detailingworld.co.uk/forum/showthread.php?t=215811&highlight=money+financial

TBH i've only came across it & researched more into myself in the last year or so. I don't know everything & don't claim too, & apologise if i come across that i do, as that is definitely not my intention (just to inform) :thumb:


----------



## Grommit

I'll have a wee swatch at home dude


----------



## The Cueball

I think some people are getting confused as the term "cash" and what it actually means....

I would suggest that everyone who want's to understand the corrupt system that we life our lives in really does take a few hours to look at that thread, watch at the very least the first video and understand that we are all in debt and will never be out of it....

The country does not make it's own money, it BORROWS it from PRIVATE banks, not commercial banks and it pays INTEREST on every pound borrowed.......

You know when we, the UK, give money to other countries...well "we" are borrowing this, from a private bank, and being charged for the honour...

:thumb:


----------



## Tricky Red

kh904 said:


> Sorry but you are wrong. If they haven't lent you cash (whether it's electronic or physical) what have the banks lent you? Quite literally nothing!
> Why do you think banks are going down/bankrupt?
> 
> There is no contract - Contract law is simply: a contract needs to have 2 signitures (the borrow & lender), but only the borrower signs the contract & there needs to be consideration passed between the 2 parties (nothing is exchanged) so there's no consideration
> 
> Like i've said, look it up yourself


I appreciate what you are saying but this is a technicality. You borrow, you repay. Simple.


----------



## jamest

Banks don't create money and all money they lend has interest on it. So if you forget about the fact there is money already in circulation, imagine how it would look if you immediately started using this system.

Money is invented and comes in to circulation, there is a sole bank at this point lending money to people.

They make £1,000,000 available for people to delve in to and borrow.

The bank charges 10% interest on every loan.

So if you borrow £10, you pay back £11.

But if you only have £10 how are you ever going to pay back £11? You will always be £1 in debt.

Now of course the monetary system didn't start like this, we used a good old system called the Gold system where money was actually based on the value of gold.

The fractional reserve system ruined this by making money worth a lot less than the value of gold which causes inflation and then they charge interest on top of this which causes huge amounts of unpayable debt.

The Federal reserve in the US isn't even a Government entity, it is a private bank owned by extremely wealthy and powerful people.

Also important to note that the last US president that opposed the fractional reserve system was assasinated...


----------



## kh904

Tricky Red said:


> I appreciate what you are saying but this is a technicality. You borrow, you repay. Simple.


Is it a technicality? Yes, but a very fundamental one!!!!
Once again, what are you borrowing? That's the fundamental question!

Yes, from one perspective you are right if you borrowed existing money you should pay it back. But i'm going back a few steps to the fundamental principals to when the fraud originates with the bank.

That was one of the fundamental reasons the US fought Britain for independance - the ability to create independant interest free currency from the King of England! Eventually the US lost because the Federal Reserve came into force as a central bank in 1913 (iirc)

As Cueball recommended, have a look at the thread & the video's posted which will explain it a lot better than me.


----------



## kh904

jamest said:


> Banks don't create money and all money they lend has interest on it. So if you forget about the fact there is money already in circulation, imagine how it would look if you immediately started using this system.
> 
> Money is invented and comes in to circulation, there is a sole bank at this point lending money to people.
> 
> They make £1,000,000 available for people to delve in to and borrow.
> 
> The bank charges 10% interest on every loan.
> 
> So if you borrow £10, you pay back £11.
> 
> But if you only have £10 how are you ever going to pay back £11? You will always be £1 in debt.
> 
> Now of course the monetary system didn't start like this, we used a good old system called the Gold system where money was actually based on the value of gold.
> 
> The fractional reserve system ruined this by making money worth a lot less than the value of gold which causes inflation and then they charge interest on top of this which causes huge amounts of unpayable debt.
> 
> The Federal reserve in the US isn't even a Government entity, it is a private bank owned by extremely wealthy and powerful people.
> 
> Also important to note that the last US president that opposed the fractional reserve system was assasinated...


Pretty much spot on!

The Bank of England is no different to the Federal Reserve! The interest still goes to private hands.


----------



## Stevoraith

kh904 said:


> No disrespect but you need to look up how the financial banking sysyem works. Look up Fractional reserve banking/lending & then you'll realise that is the main reason why we are in a recession!
> They are not lending MONEY (physical or electronic) when a loan or CREDIT card is taken out!!!
> When you pay by debit card, you are paying with money (it's just electronically rather than paper/physical cash)
> Even if everyone is 100% responsible and wanted to pay back all loans, it's 100% IMPOSSIBLE. If eveyone paid it back, there will be no money left in circulation
> 
> :thumb:


No offence or disrespect taken :thumb: I'll fully admit that I don't know exactly how the banking system works. I started watching the money as debt video but to be honest it's 45mins long and I don't have that much time! I watched 15mins or so of it though so I understand what you mean by the banks creating money.

However, it makes no difference to my original point.
When I said 'this mess' I was referring more to society in general and the lack of conscience or responsibility that seems to be taking over (I realise that wasn't clear in my initial post).

When one takes out a loan for whatever reason, one agrees to pay back what one has borrowed plus a certain amount of interest.
One is made fully aware of how much one will have to pay and how long one has to pay it.

The banks aren't hiding anything from anyone, or asking for more than one agreed to when the initial deal was made.

One has the benefit of not having to save up the amount of money borrowed and one can use it to acquire whatever one desires.

My point is that why does it matter (in the context of a customer repaying a loan) where this money came from, or if the bank has signed the contract? One has borrowed 'money' and agreed to give it back a bit at a time.

The morally correct thing to do is to pay it back like one agreed.
The 'blame anyone but me' attitude and lack of responsibility is what is damaging western society.

The rights and wrongs of the global financial system, while very interesting, is surely a seperate topic and not related to why Joe Bloggs should or should not honour an agreement he had to pay back something he borrowed.


----------



## The Cueball

Stevoraith said:


> When one takes out a loan for whatever reason, one agrees to pay back what one has borrowed plus a certain amount of interest.
> One is made fully aware of how much one will have to pay and how long one has to pay it.
> 
> The banks aren't hiding anything from anyone, or asking for more than one agreed to when the initial deal was made.
> 
> The morally correct thing to do is to pay it back like one agreed.
> The 'blame anyone but me' attitude and lack of responsibility is what is damaging western society.
> 
> The rights and wrongs of the global financial system, while very interesting, is surely a seperate topic and not related to why Joe Bloggs should or should not honour an agreement he had to pay back something he borrowed.


I agree.... there is a lack of morals at the consumer level...

The UK has a integrity crisis at the moment....not being helped by all the ambulance chasers/get out of debt companies/short term loan people etc etc... but I have always said it comes down to the individual person responsibility to ensure that they are OK...not down to anyone else....

I think that is what was rare about this thread, someone made the mistake, admitted it, and has worked really hard to pay it off...

Everything else about the system etc, should really be discussed somewhere else, as it's very O/T for the thread, and is kind of detracting from the "good news" of someone fighting to pay off his debt...

The thread mentioned would be better suited to the ins and outs of the actual correct system (imo)

:thumb:


----------



## kh904

^ 
Agreed!

IIRC i've actually commended the OP for takin responsibility way back earlier in the thread

:thumb:


----------



## The Cueball

kh904 said:


> ^
> Agreed!
> 
> IIRC i've actually commended the OP for takin responsibility way back earlier in the thread
> 
> :thumb:


It wasn't a dig at you buddy, or anyone else!

:wave:


----------



## Gruffs

Gruffs said:


> I know that feeling buddy.
> 
> Mine was 17.5K now down to 6K. All through hard work and saving. I could have done it quicker but life gets in the way somewhat and i wanted to save for the rainy days as well as repay.
> 
> All in all, i'm much happier being a scrooge than i was being loose with my money.


Well, to get back on topic.

I cleared my personal debt, saved up some money to get married with SWMBO, Then got a mortgage. Our Honeymoon will be our first holiday for three years. We are going to Ireland.

We get by with one car (that is A LOT cheaper than running two btw).

So, I'm back in debt but on a fantastic property that we never have to move from. We are currently overpaying on the mortgage by £500 per month too. We hope to be rid of it by mid-term (15 years).

My god we are tight :lol:


----------



## kh904

I know Cuey, I didn't take it as one :thumb:

I think people can & may have perceived what i've recently posted that people should walk away from their responsibilities without a thought.
Like you and others have said, the consumer/borrower should take responsibility for their part.


----------



## kh904

Gruffs said:


> Well, to get back on topic.
> 
> I cleared my personal debt, saved up some money to get married with SWMBO, Then got a mortgage. Our Honeymoon will be our first holiday for three years. We are going to Ireland.
> 
> We get by with one car (that is A LOT cheaper than running two btw).
> 
> So, I'm back in debt but on a fantastic property that we never have to move from. We are currently overpaying on the mortgage by £500 per month too. We hope to be rid of it by mid-term (15 years).
> 
> My god we are tight :lol:


Lol, i'm seen by many of my peers a tight, but in the long run i'll be better off. 
While they've spent (usually on junk) on credit, they have to pay it back later with interest, therefore paying much more than the original purchase price (while they struggle to live between pay-cheques). 
Whereas if i want really want something i first save & earn the interest on my savings which helps me earn discounts on things like payin car insurance in one lump & spend on a holiday for eg.

Sometimes by the time i've saved up, i may have changed my mind & not bought what i initially saved up for - therefore saving even more money!

Plus i've got a nice cushion should there be a financial emergency, i wouldn't have to worry too much about (touch wood).


----------



## Tricky Red

Same here. I rarely borrow. If I do, I do it on card just for insurance purposes. If I can't see how to afford it, I don't buy it. That's just me. Some say I'm tight, i say I am sensible. 

I've never been one for keeping up with the Jones'. I think we have a nice house, a manageable mortgage etc. For the moment we are comfortable even taking into account the SWMBOs redundencies over the years. 

She is very sensible too, thank God, makes it a great deal easier.


----------



## Gruffs

Exactly this.

The house we have bought is on an estate of identical EX-RAF officer houses. They have been bought in the main by people like us who have reasonable careers who have not got trapped into 'buy a two bed and move up later'. We rented the cheapest property we needed for 3 years and saved like mad. We got a great deal too mind you that meant we didn't have to blow all our wedding savings on a house that is worth it.

The house is good enough that we never have to move out of it and to that end, i don't care how much it costs me as it has no relevance (obviously, I'm not paying over the odds). Whatever it is, i have to pay it but i'm not reliant on the market to give me enough to move up to the next size.

My point being that we made choices to get here. Every day we make a choice whether to spend or not. We make a choice whether to have a holiday or not (I will never understand flying around the world to lay on a beach when it's hot enough in Spain). Whether you buy that new car or the used one. Whether you stay the extra hour at work to get noticed or not or do the minimum, go home and whinge about the 'brown-noser' giving everyone else a bad name.

We all have choices to make. We all have a responsibility for that choice.

The Merovingian puts it quite nicely in a few words (I actually think Cueball should change his username to Merovingian :lol



Merovingian said:


> You see there is only one constant. One universal. It is the only real truth. Causality. Action, reaction. Cause and effect.


It's when we fail to see that we have that responsibility, that our actions have a reaction, that we begin to fail. Our risk/reward ratio has been skewed (somewhat deliberatly) over the last decade or so and it is time to come back down to reality. Times are going to get hard and become harder for those who make/made poor (and, yes in some cases, unfortunate) choices. Myself included if for example, i lose my job and can't pay the mortgage. I'll have to rent my house to an American serviceman and rent again.


----------



## deanchilds

Grommit said:


> I'll ask a different kind of question as im a nosey fecker.
> 
> What did you buy or do to get into £22.5k worth of debt?


Florida holidays and car stuff. Not a penny was business and I've built that up through hard work and working my way up can't even get a £50 overdraft.


----------



## deanchilds

Fingers crossed Wednesday could be the day!


----------



## The Cueball

deanchilds said:


> Fingers crossed Wednesday could be the day!


Must be a massive weight off your mind...

Well done!

:thumb:


----------



## deanchilds

Sure will! Will be nice!


----------



## deanchilds

Might celebrate by becoming a supporter on here!


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## Ben_ZS

deanchilds said:


> Florida holidays and car stuff. Not a penny was business and I've built that up through hard work and working my way up can't even get a £50 overdraft.


You will probably enjoy going to Florida this time 100 times more than before, as you earned it this time. :thumb:

We are going to Florida in October and I've already got a fair whack of cash already saved for spending money. What I am doing is using mainly my Credit Card for shopping etc out there (for protection) and banking the cash when I get back and clearing the amount.

Well done though mate, bet your partner is relieved too?


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## deanchilds

Yes mate she is a happy too! I've had a few lapses but I work hard and don't drink or smoke and have a passion for gadgets so get new blackberry/iPad/3dtv etc etc as and when required which she don't get but hey I've got to enjoy something out side of work!


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## jamest

deanchilds said:


> Yes mate she is a happy too! I've had a few lapses but I work hard and don't drink or smoke and have a passion for gadgets so get new blackberry/iPad/3dtv etc etc as and when required which she don't get but hey I've got to enjoy something out side of work!


Thats what CPFC is for. :thumb:


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## deanchilds

jamest said:


> Thats what CPFC is for. :thumb:


Be sure to let them prats know for me mate!


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## jamest

deanchilds said:


> Be sure to let them prats know for me mate!


huh? Are you refering to the "lovely" BBS folk?


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## deanchilds

Yes I could re register just for the fun of it! You could post now to say I'm 5 days away!


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## jamest

deanchilds said:


> Yes I could re register just for the fun of it! You could post now to say I'm 5 days away!


I only go on to read transfer rumours and away match reviews. Far too many idiots on one forum for my liking.

I just remember your username from a couple of years back.


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## deanchilds

Speak with cling often but don't look like doug wants him back!


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## jamest

deanchilds said:


> Speak with cling often but don't look like doug wants him back!


Not sure he would be an improvement over Murray and one of the youngsters. Back in the day he was great except for being offside all the time.

Thought he would of done well with Sheff Wed but looking on Wikipedia he doesn't look very prolific.


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## deanchilds

I'll admit it's a lot later then expected but it's all done now! All credit cards paid off and all accounts been closed down!


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## davZS

deanchilds said:


> I'll admit it's a lot later then expected but it's all done now! All credit cards paid off and all accounts been closed down!


Dean mate a big :thumb: from me. That must be an amazing feeling knowing your free so to speak.


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## Gruffs

Sorry i missed this. 

Well Done Dean :thumb:


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## deanchilds

I had to ask about 10 times to close the last of my credit cards no wonder the country is in a mess. If I had done it when I got the new card in November I'd have been out of debt a while ago but the stupid woman convinced me to keep it. Never again. 

I have now a credit rating of 996 out of 999 with experian.


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## The Cueball

Don't want to sound like a condescending pr!ck here, but... 

Really well done mate..... You worked really hard to get all this sorted out, and I'm sure it will set you up for a much brighter future...

Congrats!

:thumb:


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## deanchilds

Thanks mate! It's been hard work with a few lapses and I still need to keep on track and start saving a few grand a month once back from Florida. I wouldn't have been able to do without the business doing so well, so I owe it down to that. 

I hope the next debt I take on to be £200k + but that be worth it!


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## The Cueball

deanchilds said:


> I hope the next debt I take on to be £200k + but that be worth it!


Is that the strippers and coke party you PMd me about...

I'm a tad upset that the budget has been halved, but I'll still be there



:lol:


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## deanchilds

Hoes before bros mate!


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## The Cueball

deanchilds said:


> Hoes before bros mate!


pffft... 

Shocking attitude to have....



:lol:


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## deanchilds

Florida was great even better that the money wasn't borrowed! Getting married next month and work is crazy!! 

Debt, what debt? I'll have deposit for mortaage in no time at this rate!


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## Darlofan

deanchilds said:


> I just paid what I could when I could. Didnt agree anything with any of the banks. I had lots to pay family as well that was my priority. I know I should have cleared credit cards first but I hated owing family money when they needed it just as much as I did. Will have the rest of the debt cleared by end of the year.
> 
> Someone said I could have gone bankrupt but I borrowed it and ill pay it all back and for the better I will come out the other side knowing its all worth saving up for things if you really need them you will wait.


Well done that's a really great effort, we ran a pub a few years back and were advised to go bankrupt/IVA. We didn't take this advice, sold the pub and luckily got a loan for the remainder of debt to pay people off. Nobody we knew it was just usual suppliers, tax, brewery etc but we weren't the sort to walk away owing money, like you say we borrowed it so paid it back. Loan ends in 2 years and can't wait but least we know in our minds we did the right thing.
On the other plus side we are in process of adopting and taking responsibility for the debts instead of bankruptcy has gone favourably in our case:thumb:


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## deanchilds

I now owe £20k again........



















Just kidding! So much nicer being debt free! Once new year is here I'll be pulling the belt in a lot more!


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