SOCCERROO FOX Posted 28 May 2011 Posted 28 May 2011 As some one who has worked in Credit my whole working life, the worst thing you can do is ignore it speak to the bank work out a managble payment plan. If you ignore it well your opening a massive can of worms. Working in credit has taught me a never to get a credit card. Never set up direct debits, never take out personal loans of any sort other than a mortgage. The most important advice i can give any one is "live within your means"
Bob Weasel Fox Posted 28 May 2011 Posted 28 May 2011 Ive just had my credit card bill and i nearly shat when i saw ive gone over £2500. Is this normal?. Bearing in mind im fairly mature (i hate the word old), i work full time, own a house etc, and this debt equates to roughly 9/10 % of my yearly wage. like dangerous tiger has said just dont have one is the best idea. Im 40 and only got my first credit card at 39 and spent £2'300 on it in a couple of months easily. Just had a £6'000 loan to pay it off (as the apr is better) and pay some of the wifes debts off also - bloody things, never having one again, just spend money youve earnt is the best way
purpleronnie Posted 28 May 2011 Posted 28 May 2011 Ive just had my credit card bill and i nearly shat when i saw ive gone over £2500. Is this normal?. Bearing in mind im fairly mature (i hate the word old), i work full time, own a house etc, and this debt equates to roughly 9/10 % of my yearly wage. I've had credit card bills of over £15,000....but I always pay high amounts off, I guess its all relative to how much you earn.
Phube Posted 28 May 2011 Posted 28 May 2011 As some one who has worked in Credit my whole working life, the worst thing you can do is ignore it speak to the bank work out a managble payment plan. If you ignore it well your opening a massive can of worms. Working in credit has taught me a never to get a credit card. Never set up direct debits, never take out personal loans of any sort other than a mortgage. The most important advice i can give any one is "live within your means" We have about 30 odd DD coming out of our bank every month!! It's the only way to pay! Gas, electricity, mortgage, insurances, Sky, mobiles, water, council tax, baby savings, loan, TV licence... etc. etc.
SOCCERROO FOX Posted 28 May 2011 Posted 28 May 2011 We have about 30 odd DD coming out of our bank every month!! It's the only way to pay! Gas, electricity, mortgage, insurances, Sky, mobiles, water, council tax, baby savings, loan, TV licence... etc. etc. Wouldn't recommend it all it takes is one issue with your bank or one issue with your pay not going in on time and bang you have dishonour charges x how ever many direct debts. Seen it happen before when someone had 9 direct debits and copped $30 per direct debt. I don't have any direct debits but if my there is an issue with my pay being delayed or the bank have an issue they will pay my dishonours if i ever had any.
MC Prussian Posted 28 May 2011 Posted 28 May 2011 I don't have debts and I'll never want to make any.
DANGEROUS TIGER Posted 29 May 2011 Posted 29 May 2011 like dangerous tiger has said just dont have one is the best idea. Im 40 and only got my first credit card at 39 and spent £2'300 on it in a couple of months easily. Just had a £6'000 loan to pay it off (as the apr is better) and pay some of the wifes debts off also - bloody things, never having one again, just spend money youve earnt is the best way Hope everything works out for you. Taking out the loan, with a lower apr., was wise of you.
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