Another Debt thread

D

DrewChan

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Let see how our financial state is

How much debt do you have? [Excl house/Cars]
What kind of debt is it?
How did you get there?
How are you paying it off?
How long will it take

R20 000
Credit Card/Cheque Account
Slowly ate away at my overdraft
Monthly installments/ Not using the cards
4 months give or take
 
100k
Credit card
Life expenses - car repairs, dog repairs etc
Hopefully with my bonus next month
1 second
 
I read 'Another Death Threat'

R16500
Clothing Account + Credit Card
Opened a clothing account against my better judgement. Bought a dinner table and booked flights for my parents.
As soon as SARS pays me and the balance from my salary
Within 2 months
 
Credit card - Positive balance
Car - R2900pm. Keeping it till I hit 90 000km (1.5 years to go) then trading in
Accounts - R1500 in total and installments are always R0 due to me paying ahead of time
Hospital - R700 for something I forgot to get authorization for 2 months ago. little bills keep popping up because of that. It also depleted my medical savings.
Will pay sometime over the weekend when I have nothing better to do
 
Last edited:
Student Loan +- 54k
Credit Card +- 23k
Personal loan (mega fail :( ) +- 21k

Personal loan and credit card I aim to finish both by the end of the year, will be such a load of my back. F me definitely learned my lesson with debt
 
PsYTraNc3 said:
Ouch!

And I bet you don't have a R100k bonus on its way
Click to expand...

Nope, BUT you know thankfully I can afford to pay it off sooner. Credit card was at 40k just a few months back to give you an indication
 
Better than another eg2505 "my car" thread :p

R30 000
Credit Card
Various things, helping someone out, a vehicle clutch and a much needed vacation amongst others
Pay 25% or morwe above the minimum required
10 months
 
How much debt do you have? [Excl house/Cars]: R70 000
What kind of debt is it?: A loan (58k) + CC (8k) + clothing account (4k)
How did you get there? Loan:fixing things in and around the house (call it alterations), CC: have had it since I started working and its always been maxed out, but I'm clearing and closing it within the next month or two. Clothing account: wife!
How are you paying it off?: With blood, sweat and tears
How long will it take: 12 months, but I'm giving up drinking so I can clear it in 6 months - schitt just got real!
 
prOd said:
Nope, BUT you know thankfully I can afford to pay it off sooner. Credit card was at 40k just a few months back to give you an indication
Click to expand...

That is a good thing :)

My student loan was R100k at a time when I was 19 and earning R2800pm :sick:
Taught me how to manage money very well though.
 
Car: 39k - Thinking of finishing it this year.
House... well a shst lot.
 
PsYTraNc3 said:
That is a good thing :)

My student loan was R100k at a time when I was 19 and earning R2800pm :sick:
Taught me how to manage money very well though.
Click to expand...

Yea I was in a similar situation, I've held back on paying the student loan for the maximum allowed period though. :D You can't put a price on an education I guess so I don't mind paying back that
 
YingYang said:
How much debt do you have? [Excl house/Cars]: R70 000
What kind of debt is it?: A loan (58k) + CC (8k) + clothing account (4k)
How did you get there? Loan:fixing things in and around the house (call it alterations), CC: have had it since I started working and its always been maxed out, but I'm clearing and closing it within the next month or two. Clothing account: wife!
How are you paying it off?: With blood, sweat and tears
How long will it take: 12 months, but I'm giving up drinking so I can clear it in 6 months - schitt just got real!
Click to expand...

lol @ wife :D
 
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