[windowwashers]

no debt apart from my mortgage and my car
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So you are in debt then...

Andy
---
well obviously! sharpest tool in the box ain't ya!

Sorry. I wasn't trying to be funny or anything... It just makes me laugh when some people don't count their mortgage as a debt - When in reality it's the biggest one they have!

Andy

I agree that a mortgage is a debt but if you take the view that it's either that or paying rent then you could say that the rent is debt too as you've got to live somewhere.  I suppose the only exceptions are those who have rent free accommodation or someone who has paid off their mortgage.

have to add another to that one: a person that has a mortgage that also has alot of money in the bank that they earn more interest on so by not paying the mortgage in full they make more money from interest which in turn pays the mortgage, I would not call that a debt I would call that clever money managment  .

little example, I bought new pc's for the office 9 months interest free now I could have paid the £1600 straight away, or opted for 9months free interest, i opted for the 9 months and kept the money in the bank earning interest I dont class that as a debt in anyway, getting an item and making a little saving at the same time is what I would say 

[D woods]

I never knew there was so many financial gurus on this forum.

[NWH]

If i can`t pay for it i don`t want it.

[Sir Squeaky]

I never knew there was so many financial gurus on this forum.

Gnus more like.

[xxmattyxx]

 someone who has paid off their mortgage.

That'll be me then 

[tacky]

nice post .a little weight has been lifted off my shoulders .i thought i was the only one

[john tomkins]

I agree that a mortgage is a debt but if you take the view that it's either that or paying rent then you could say that the rent is debt too as you've got to live somewhere.  I suppose the only exceptions are those who have rent free accommodation or someone who has paid off their mortgage.

have to add another to that one: a person that has a mortgage that also has alot of money in the bank that they earn more interest on so by not paying the mortgage in full they make more money from interest which in turn pays the mortgage, I would not call that a debt I would call that clever money managment  .

little example, I bought new pc's for the office 9 months interest free now I could have paid the £1600 straight away, or opted for 9months free interest, i opted for the 9 months and kept the money in the bank earning interest I dont class that as a debt in anyway, getting an item and making a little saving at the same time is what I would say 

You cannot get a mortgage thats got a cheaper interest rate than you get on your money, that's the reason how banks make their profits.
Your example of interest free for 9 months on electrical purchases is valid, but you wont get that on a mortgage.....unfortunately

[jimlucas]

seems the only ones making real money in windowcleaning are the online shops keep heering how well theyre doing driving about in their big audis. Maybe in wrong game

[dai]

No mortgage or debts of any monetary kind.  I'm indebted to a few friends and family, for all they have done for me over the years.
 If you accept a favour, you owe a debt. Dai

[Pure H20 Cleaning Services]

I have no mortgage on my two houses
My daughters school fees are paid untill she is 18
I have no outstanding HP on my two vans
I have no credit cards
I have no overdraft
I have no outstanding balance on my Ionics pro 5












I WISH

[Neil_A]

I think these days being in debt is apart of life! Some are in more debt than others.

For most people it is hard to live with out getting in debt... Need a car to get to work, children need school uniform?

Or maybe you want what others have got... so you get in debt to have it.

Ive heard of people killing there self as debt is getting to much for them..

Letters, phone calls, knocking at the door.

The thing that gets to me is... all these companies say they want to help you get out of debt, in fact they want to earn more money out of you..

Vicious circle

[windowwashers]

I agree that a mortgage is a debt but if you take the view that it's either that or paying rent then you could say that the rent is debt too as you've got to live somewhere.  I suppose the only exceptions are those who have rent free accommodation or someone who has paid off their mortgage.

have to add another to that one: a person that has a mortgage that also has alot of money in the bank that they earn more interest on so by not paying the mortgage in full they make more money from interest which in turn pays the mortgage, I would not call that a debt I would call that clever money managment  .

little example, I bought new pc's for the office 9 months interest free now I could have paid the £1600 straight away, or opted for 9months free interest, i opted for the 9 months and kept the money in the bank earning interest I dont class that as a debt in anyway, getting an item and making a little saving at the same time is what I would say 

You cannot get a mortgage thats got a cheaper interest rate than you get on your money, that's the reason how banks make their profits.
Your example of interest free for 9 months on electrical purchases is valid, but you wont get that on a mortgage.....unfortunately

My point was over looked or I wrote the post wrong, I was meaning that people that have money in the bank can still have a mortgage as the interst that they make on there money pays the mortgage example just so I make what I said in the first place valid £100,000 mortgage 1 million in the bank earning interest if you do that maths my point is valid the million is is just an example as is the 100k mortgage, that is how alot of people with money do it, ask a few I am telling the truth. So what I said in the first post is indeed a valid point  

[Tosh]

It's easy to get credit these days, but remember credit is only credit until the point comes when you can't service it; it's then called debt.

In a previous life I was the Unit's Debt 'Advisor' and had numerous soldiers with financial problems in my office.  It was an 'add on' to my primary function (on top of other add-ons) and it was a real pain in the ass.

In brief, I had to ascertain the full scope of the debt, write letters to each of the companys involved, giving them a letter of authority from the soldier saying that I was dealing with the debt, and ask how much was involved.  I'd make them 'cash paid' soldiers (no money going to their bank) and confiscate their credit and bank cards, and their cheque books (I couldn't do this legally, but if they wanted my help, this was a pre-requisite) and I'd pay them enough money to live; cash.  If they were single soldiers, that'd be about £20 a week and if they were married it would be more (depending on how many kids they had).

I'd then write cheques to each month to the companies that they owed money too and deduct that from their wages; making sure it all balanced.

This was no doubt a humiliating experience for many of them (and their wives who I used to request the prescence of), but I wasn't openly nasty or arrogant.  I even had a big 'thank you' published in Soldier Magazine for helping one soldier out with his debts.

But,  it was a massive drain on my time, and I hated the soldiers for making me do it.  I considered them to be total 'four letter words'. 

However, after I had a messy divorce (still not properly resolved after 7 years) I found myself in debt and hounded by collection agencies.  I guess it's one of the reasons why I left the army, I couldn't do the job I was doing (it was money orientated) while I was in debt (not credit).

My advice to anyone whose struggling with debt is firstly, don't worry; they can't make you pregnant (unless you're female and let them), and secondly don't bury your head in the sand; there's a wealth of information on t'internet; read and learn; then act.

But don't worry, prioritise your debts.  The roof over your head, utilities and taxes come first.  The rest can 'swivel' on your middle finger if you can't afford it.

[Londoner]

You just said you had plenty in the bank.

Yes but that money was from my redundancy and its staying there.