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SURVEY: How much debt do you have?

10K to 50K is a HUGE gap, virtually anyone with a financed vehicle + a small CC or two will fall in that category.

Viper GTS
 
Originally posted by: MogulMonster
Originally posted by: Fausto
Cool, a poll. You should post more of these.
Click to expand...

Seriously, what a great idea! We never see these in ATOT! :beer:
Click to expand...
Honestly, it never occured to me to sit around, think up random questions, and then post them on the intarweb.

:light:
 
Originally posted by: Fausto
Originally posted by: MogulMonster
Originally posted by: Fausto
Cool, a poll. You should post more of these.
Click to expand...

Seriously, what a great idea! We never see these in ATOT! :beer:
Click to expand...
Honestly, it never occured to me to sit around, think up random questions, and then post them on the intarweb.

:light:
Click to expand...

They are not random questions. There is a central purpose to all the questions I ask here on ATOT.
 
Just added up all my remaining debts today, down to $14k from over 20k only a year ago.

Car + Student Loans + teh Evil Credit Cards

At leas the majority of it is in the Student Loans, which is the lowest interest, but those damn CC's, was forced to use them when I was laid off, and I'm getting rid of those ASAP
 
Originally posted by: ManSnake
Originally posted by: Fausto
Originally posted by: MogulMonster
Originally posted by: Fausto
Cool, a poll. You should post more of these.
Click to expand...

Seriously, what a great idea! We never see these in ATOT! :beer:
Click to expand...
Honestly, it never occured to me to sit around, think up random questions, and then post them on the intarweb.

:light:
Click to expand...

They are not random questions. There is a central purpose to all the questions I ask here on ATOT.
Click to expand...

I'm not responding to your stupid "repost" polls anymore until I get a reason for it.
 
Originally posted by: Armitage
There's a big difference between secured & unsecured debt.
Lumping them all together is somewhat meaningless IMO.
Click to expand...

A car, IMO, might as well be unsecured debt. Its not like a house where the value goes up or at least stays the same. A lot of people who make car payments have more to pay on it than the car is worth, so selling it when you need some cash really isnt an option.

 
Originally posted by: Train
Originally posted by: Armitage
There's a big difference between secured & unsecured debt.
Lumping them all together is somewhat meaningless IMO.
Click to expand...

A car, IMO, might as well be unsecured debt. Its not like a house where the value goes up or at least stays the same. A lot of people who make car payments have more to pay on it than the car is worth, so selling it when you need some cash really isnt an option.
Click to expand...

I'd say the question of secured vs. unsecured is somewhat gray. You can be upside down on a mortgage if real estate takes a dive, while you could by something on a credit card that could possibly be easily sold to recoup your debt. Of course, with a credit card there's no legal agreement binding a certain debt to a certain asset as there is with a mortgage or car loan.

But in general, I would consider secured debt to be debt bound to a specific asset where you have a reasonable expectation that you could liquidate the asset for >= the remaining amount of debt on it.
 
Or how about categorizing it like credit bureaus do: revolving credit vs secured long-term debt.

There's a big difference with credit cards, gas cards, etc compared to house mortgage, 10-year student loans, etc.

 
~13,000. My school loans. I don't carry a balance on my credit card. If I can't pay it all off at the end of the month, I don't buy it.
 
100000-200000 : Gotta love those mortgage payments. Ahhh, for the life before a mortgage payment......😉
 
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