Who on here has the biggest debt?

[SallyAnne]

280k in sunderland OMG!!

Do you know St Anthony's girls school? Its there

Massive 3 storey jobbie! And only a 4 minute stagger from the Borough (2.5 mins from the Ivy, and 1.5 mins from Pizzarama).
Although strangely it takes me about 7 minutes to get to our loft room!

[MarillionFan]

"Massive 3 storey jobbie! And only a 4 minute stagger from the Borough (2.5 mins from the Ivy, and 1.5 mins from Pizzarama)."

You need to get that sorted love. A 3 storey jobbie, how many pizzas from Pizzarama did you have???

[foritisme]

Well if we are spilling the beans

120K Mortgage (house value 200K)
45K personal debt.............most of it from when my wife went long term sick

[SallyAnne]

how many pizzas from Pizzarama did you have???

All of them

[n5gooner]

Well sorry guys but I can beat you all....

I have a little over 1.3m in Mortage(s) and about 90k in other debt, I'm also about to purchase another business for about 250k

but its all relative to what you earn and bring in. So yes its high, but so are the incomes.

[expat]

Mortgage debt is a bit different from any other, in that it is (hopefully) matched to a corresponding asset, so net debt is not positive. Most debt, and especially credit cards, loans, and overdrafts, is not so matched: you just owe the money and that's all there is to it.

(If you have 10k of credit card debt and 10k in the savings account, that's not security, it's miscalculation: pay off the debt! OTOH it can be worth paying into an ISA first, because when you lose the tax relief it's gone for ever.)

Final exception, maybe: a car loan. The car is some sort of security, and anyway many people regard the monthly payments as a running cost.

Debt apart from that? I have a lot, some 10k. I know how I got here, and I'm paying it off in big chunks but even on contractor rates it's hard.

[oraclesmith]

Well if we are spilling the beans

120K Mortgage (house value 200K)
45K personal debt.............most of it from when my wife went long term sick

Just a thought - what about putting the personal debt on the mortgage. Got to be cheaper.

Mortgage £60k, house worth about £500k
Savings £44k
Credit card £4k

[lukemg]

Owe 60k on mortgage but when you add up all my assets including house equity 200k other investments except pensions etc I am worth about 290k. Thing is, my dad died a few months ago and seems to have spent most of his life saving for a rainy day and amassing 700k when he should have been spending it or letting my mum do so !
Build up cash to give you options about whether to sack work off/maintain your standard of living if it sacks you off and then bloody spend the stuff. No pockets in a shroud...

[SallyAnne]

Owe 60k on mortgage but when you add up all my assets including house equity 200k other investments except pensions etc I am worth about 290k. Thing is, my dad died a few months ago and seems to have spent most of his life saving for a rainy day and amassing 700k when he should have been spending it or letting my mum do so !
Build up cash to give you options about whether to sack work off/maintain your standard of living if it sacks you off and then bloody spend the stuff. No pockets in a shroud...

Sorry to hear about your dad Luke

My dad's still alive, but doesn't have a penny to his name. Him and my mam have ALWAYS spent every single penny!
They really regret that now though - I guess you never get a happy medium.

[oraclesmith]

Owe 60k on mortgage but when you add up all my assets including house equity 200k other investments except pensions etc I am worth about 290k. Thing is, my dad died a few months ago and seems to have spent most of his life saving for a rainy day and amassing 700k when he should have been spending it or letting my mum do so !
Build up cash to give you options about whether to sack work off/maintain your standard of living if it sacks you off and then bloody spend the stuff. No pockets in a shroud...

Maybe he was doing what all good parents should do which is to invest in future generations.