How has debt affected you?
Since the early 90's I've always been keen not to run up 'bad' debt. The current economic situation has made me more resolved to invest in safe(r) products, (cash ISA's, funds rather than equities) and seek to pay the mortgage off as quickly as possible.
Fri, 04/09/2009 - 21:11
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Most of us are forced to borrow at least once during our lives - whether we need to take out a mortgage to buy a house, use a credit card for internet shopping or take out a loan for a holiday or home improvement, borrowing is sometimes a part of life.
The problem with debt is that circumstances change. You might lose your job or suffer a relationship breakdown. Or your repayments might have increased significantly, in light of the credit crunch.
How has debt affected you and your family? Are you borrowing less now and trying to repay the money you owe, or have you been forced to take out even more loans?
Share your experiences of debt on the Moneywise forum now...