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are you in debt?

M

Maverick

Diamond Member
Seems like a lot of people come out of college very deeply in debt. Either with student loans, or ridiculous credit card bills. I've probably got about 4-5 friends that each have at least $10,000 in credit card debts. My parents went to great lengths to insure I wouldn't have any debts coming out of college...but I know plenty of people who had parents pay for everything but still got into credit card debt.

Edit: This does not include car payments, house payments, etc. Its mainly just debt that you've accumulated.
 


<< Seems like a lot of people come out of college very deeply in debt. Either with student loans, or ridiculous credit card bills. I've probably got about 4-5 friends that each have at least $10,000 in credit card debts. My parents went to great lengths to insure I wouldn't have any debts coming out of college...but I know plenty of people who had parents pay for everything but still got into credit card debt.

Edit: This does not include car payments, house payments, etc. Its mainly just debt that you've accumulated. >>



...but I know plenty of people who had parents pay for everything but still got into credit card debt.

i totally agree with you , these students can afford to go out of college without any debt problems....but them, a few stupid ones think they have got independence from their rich parents just because they have credit cards to spend upon. really stupid of these types who can avoid debts but finally they fall into debts....parents can clear their debts ...but then pride comes into question.
 
LOL,am at this very moment trying to buy out a former partner, and retain total ownership of the shared client book..grr..
A messy, pain in the rump this is !!
 
Student loans are more of an investment in your future, but sadly there are many graduates who pile up a mountain of credit card debt too.

Someone with a $5000 balance at 18% interest making the minimum 2% payment would take over 8 years to pay off assuming no more charges were ever made. Oh, and that would mean over $13,000 in interest on that $5000 balance.
 


<< i totally agree with you , these students can afford to go out of college without any debt problems....but them, a few stupid ones think they have got independence from their rich parents just because they have credit cards to spend upon. really stupid of these types who can avoid debts but finally they fall into debts....parents can clear their debts ...but then pride comes into question. >>



I know, I had a roommate who'd buy everything from stereos to skis to $80 pool cues on his credit card. All while barely making $700 a month. He'd use up his monthly pay in one day. I think he's in the hole about $10k.
 
I'm still a little over 10K in debt from student loans, but that's down from almost 30K 3 years ago. Oh yeah, and the house, that's a big one. No CC debt and both cars are paid off, woohoo!

-Pakaderm
 
Yep. I have about 24.000 FIMs in student loan. That's about... a bit over 4000 euros. I'm planning to repay that loa ASAP
 
I've got about 1500 in credit cards, but that'll be paid off as soon as my roommate pays me back the 1500 he owes me.
Oh yeah, and the new car loan, but you said that doesn't count...
 
yup. i am one of those stupid college kids that uses his credit cards. i used them to buy books, food, alcohol (that wasn't a necessity huh?) and maxed them out when i went to study overseas for 5 weeks. that trip is what killed me. they were high and all but that trip put me over the top. of course i am also one of those college kids that got NO help from his parents and took out student loans. i have about 18k in student loans and i am about 10k in CC debt. got everyone beat huh? yes, i am an idiot and i can barely afford the minimum payments right now...so needless to say my tax returns, go to my credit debt.
 
Nope, always pay credit cards in full. I don't overspend and hopefully I never will.

I will have debt more towards the summer when I get a newer car.
 
did you guys know a large percentage of the population suffer from credit card stress (debt). Im included in there.. 🙁 i hate debt.. slowly but surely trying to get it paid off
 
of course, I love to spend money on toys. Unfortunatly my toys have gotten a lot more expensive over the years.
 
I lended $6,000 to my sister last month else I'll be out of debt. Ohhhhh i almost forgotten about my car payments hehehehe.... but I don't consider car payments as debt cause I look at it as I'm renting the car. 🙂
I have a friend who owes 100K in student loans but his going to pay it off in 2 to 3 years<---how? his making over 100K and not spending much.


--Scsi
 


<< No, debt sux. >>



No it doesn't. Debt/Lending is an integral part of corporate america. It is also vital since most people that buy houses or cars do so with a mortgage or loan.

I currently have about 30K in debt:

10K @ 1.9%
20K @ 5.9%

The more relevant question is not how much debt you have, but what is your equity and your earnings relative to total debt and interest payments
 
Student Loans- $17,000 and rising. Been is college for two years and have at least three more to go.
Credit Cards- $800
 
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