How much are you in debt?

Caporegime
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platypus said:
I've literally just this morning put £3,000 into my cash ISA, earmarked £3,000 more for April when its a new tax year, opened a new savings account with a further £5,000 in it, and I'm now looking for a good pension.

I took out an £12,000 student loan over the course of 4 years, which was used soley for ISA investment, as my parents/other savings paid my way whilst I was there. So - I owe that £12,000 plus interest, which really isn't a lot on a student loan. No credit cards, no other loans, no repayments, and a huge starting salary at my first job post graduation.

Suffice to say - I'm fairly content at the moment :cool:

I bet you are, you should never have been given that money. Just another excuse for a student taking what they dont need, other peoples tax money.
 
Soldato
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Morba said:
I bet you are, you should never have been given that money. Just another excuse for a student taking what they dont need, other peoples tax money.
You do know he has to pay it back with interest, right?
 

Deleted member 651465

D

Deleted member 651465

What get's my goat is the advice they gave out on the radio the other day..

Financial advisors are advising students to go over their max limits by borrowing and spending like crazy while they're in uni.

Then, when they finish uni declare themselves bankrupt.

Take a year out (9 months of which you're technically bankrupt), then when the debt is cleared you're free to carry on working life, not owing a penny! :mad:
 
Soldato
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EVH said:
What get's my goat is the advice they gave out on the radio the other day..

Financial advisors are advising students to go over their max limits by borrowing and spending like crazy while they're in uni.

Then, when they finish uni declare themselves bankrupt.

Take a year out (9 months of which you're technically bankrupt), then when the debt is cleared you're free to carry on working life, not owing a penny! :mad:
This for real? :eek:
 

Deleted member 651465

D

Deleted member 651465

dark_shadow said:
This for real? :eek:
It was on Radio 2 on Wednesday/Thursday morning.

Some guy was on talking about his debts of 52,000, and how after like 9 months of "hiding" he got the debts wiped.. which IMO is downright wrong!
 
Associate
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well i have a student loan of the standard 9.5k or what ever it is which i guess i will have to start paying when i graduate in april and i have 175K on the mortgage which i try not to think about too much lol :)

other than that i am pleased to say i am all in the clear i dont like debt at all i think once your in it the banks do all they can to keep you there (girlfriend doesnt manage her money quite as well ;) )
 
Man of Honour
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EVH said:
What get's my goat is the advice they gave out on the radio the other day..

Financial advisors are advising students to go over their max limits by borrowing and spending like crazy while they're in uni.

Then, when they finish uni declare themselves bankrupt.


Are you sure they were real financial advisers? The FSA is ultra strict and would tear them new ones for saying stuff like that.
 

sid

sid

Soldato
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I dont think you can get rid of student loans by declaring yourself bankrupt. Since you are not forced to pay that when you are not employed. It is only unsecured loans which can be wiped off.

sid
 

Deleted member 651465

D

Deleted member 651465

sid said:
I dont think you can get rid of student loans by declaring yourself bankrupt. Since you are not forced to pay that when you are not employed. It is only unsecured loans which can be wiped off.

sid
Ah right.. yes, must have been unsecured loans.

...but nonetheless, they were telling students to take them (unsecured loans) out and max them out until they finish uni :mad:
 
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