life without credit

[dirtydog]

Originally Posted by speedplay

Nobody is going to come onto a public forum and announce that they have 20-30k in debt though are they?

Only those with a decent credit background or at least a comfortable financial record will will be happy to openly talk about it.

TBH I was in real s**t street a few years ago with about 35k of debt

I've now got that down by quite a bit and should be completely clear in a couple of years time.
But even with that debt I still have my SV and bought a Focus ST170 last month as well as owning a Galaxy which I use for work

[dirtydog]

hmmm I just had a thought, technically anyone with a phone line or mobile contract has credit or how many people here who have said no I don't do credit has paid their car/bike insurance in monthly instalments? Or does that not count?

Speedplay, thats only because you chain Jenn to the computer and make her work day and night for you...I have evidence!

i would discount mobiles etc as its a service not a purchase

only had a loan for my curvy didnt like it much but i wouldnt be riding if i hadnt or at least i'd still be on a 125 nothing wrong with credit as long as it's not in a vicious spiral which can happen a bit easily if you dont keep tabs on it or something crops up.

[dirtydog]

Originally Posted by davepreston

i would discount mobiles etc as its a service not a purchase

But surely credit is credit is it not? You cna still get into debt with it

have you seen how much some of these iphone contracts are.

[Bibio]

DD is technically right as to my questions. without credit some people would not have a phone as some companies insist it is paid by credit card rather than debit card.

Originally Posted by Von Teese

Speedplay, thats only because you chain Jenn to the computer and make her work day and night for you...I have evidence!

I'd like to see that "evidence".

Its bad enough getting her away from work as it is.

[Bri w]

[QUOTE=speedplay;2133733]Nobody is going to come onto a public forum and announce that they have 20-30k in debt though are they?

QUOTE]

I'd guess I have about £15k of credit, excluding the mortgage. Its servicable, and there is almost double in the deposit account.

I juggle the money/accounts/cards around and I'm comfortable with what I do. And I know that if needs be I could clear the debt.

Especially whilst interest rates are low, or with the 0% deals, I'd rather 'play' with the bank's money.

If I bought a £4k bike with a £2k loan. Kept it a year then sold it for £3k I'd pay off the balance of the credit. Probaly have in excess of a grand left of the £2k I put into the deal and would write the 'loss' off as the cost of a years worth of fun. And I'd still have the £2k I hadn't put into the deal for emergencies.

Maybe my thought process is a bit skewed if viewed by an accountant but it works for me.

To go back to Bibio's question; I must admit to being a little uncomfortable with the thought of not having the option of credit to fund the fun.