Ever been in debt?

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No, but other people are in debt to me. I should just tell my sister "I'm not a friggin bank machine!"

Although now that I bought a townhouse, I guess I will be in debt until I pay the mortgage off.

For some reason I've always been pathologically afraid of debt of any kind. It took me a big effort to apply for my first credit card back in 1996. When I got it, I used to send a check for $200 to the credit card with zero balance before cautiously charging it for gas and little other necessities while making sure I didn't exceed the $200.

I chose college based almost exclusively on the amount of tuition that I could pay for with the help of government grants and part-time work.

My first house was a decrepit foreclosure that could not be mortgaged because it was in a really sorry shape including fire damage. The price, however, was low enough for me to buy it all-cash shortly after I graduated from college. Just the cost of materials to fix it was comparable to the price I paid for it. I had to deal with squatters, druggies and other unsavory characters. On my first day as a proud homeowner I filled a full container of disgusting trash including feces, needles and shell casings. Lots of sweat equity, but I never went into debt for even $1.

Now, a decade later, I'm still debt-free. I have a nice house in a beach area, a vacation home, several rental properties, and many other assets. All were bought cash-only. Granted, a big part of it was matching my Aspie talent with a very lucrative carrier, but, probably just as important, I never paid a dime of interest to anybody.

I had a debt once ($10k car loan which is now paid off). My savings/cash assets have always outweighed the amount of debt I've had. I've never had a credit card and don't intend to get one, I much prefer my debit mastercard. Hopefully one day I can get a mortgage, but right now the banks won't give me enough for me to buy what I want (I could buy a mobile home and that's about it).

Likewise, I've never owed more than my total assets (although the great bulk of those has always been money my parents put into a savings account for me, so not really down to deliberate action on my part.) I don't have any debts at present and I don't have a credit card.

I sort of am, but only to my Dad:

I owe him for my new car, some visits I took to a counselor a while back, and some stuff he told me to not to pay him back for, but I want to anyway.

No, and I won't ever be either.

I'm pretty heavily in debt. Guess I've never understood the concept of money, especially conceptual money like what you have in the bank and on credit cards.

When I was in my late teens and early twenties I maxed out a couple of credit cards and a huge £2,500 overdraft. I have most of that paid off but still have one credit card left to pay off, a council tax debt and am still majorly in debt to university. I never paid for my accomodation one year, ended up incurring tuition fees I didn't realise I would have to pay when I repeated the year and at one point took out a crisis loan of £300. I am also in student debt to the tune of £22,000.

These days I work only with cash. I need to hold the money in my hand to appreciate that it truly exists and take responsibility for it.

My bank offered me a credit card, but I refused -- too much temptation for my liking. I'm quite happy with my arranged overdraft facility and my debit card.

Nothing but student loan debt that I likely will never be able to repay.

Wow some of you are debt free! OMG! IMO it's kind of depressing I'm so used to having my Credit Cards!! !! I feel like I have nothing to do!! !! Sure old games I haven't beaten and books but I'm a latest/new type of person and don't really feel like getting into my back catalog of games. I reserved 2 new $60 games Oh well.

The only times I've been in debt was with buying houses (done it 3 times now). It's not as heavy as being in debt for most other things, because you can always sell the house, though of course once you've got the idea that it's yours, that can be a hard climbdown. But nothing like as hard as owing money when the stuff you've bought has depreciated or been consumed. When I was buying houses, the loan people wouldn't lend unless they were pretty sure it would be paid back. Now I see they're returning to that way of thinking.

I hate the idea of owing money and even with houses I was relieved when it was all paid off. It makes me feel like an indentured slave, having to work essentially for nothing becaue I've decided to live now and pay later. I've always made do with what money I've had, and don't even use credit cards. So if I don't have the money for something, I just do without until I do.

It may sound very goody-goody of me, but mostly it's down to my having a tendency to worry. Debt scares me so I keep away from it.

Good idea English Invader LOL!

My debts are pretty big but that’s mainly because I’m such a stubborn b*st*rd and refused to accept defeat! For at least a year I didn’t have the mental health to work but refusing the notion of benefits I just amounted debt while trying to keep life running, keep studying and paying the fees to do so. Granted, eventual complete psychological collapse left benefits the only option, but hey, at least I tried. ( )

£,5000 overdrafts but they are interest free so no problem.
Paying off one credit card at £10 a month, finishing 2033! I could finish that much sooner but the notion pleases me.
Thankfully though only £8,000 student loan as studying in Wales but living in Scotland meant I got much less and instead worked to make up the deficit.

Can anyone else smell processed meat here?