For sake of discussion, a mortgage that you're not behind in payments is not a debt.


I have zero debt.

10/16/2011 5:56:33 PM

I have an auto loan, but I'm not behind or anything. So I'm guessing that doesn't count, per your standard.

10/16/2011 5:58:14 PM

In that case, $0 debt.

10/16/2011 5:58:50 PM

Quote :

"a mortgage that you're not behind in payments is not a debt. "

This kind of thinking is why we have a debt problem in the US

10/16/2011 6:00:02 PM

haha this is one of those allow me to ask all of you a question and oh by the way let me start by answering the question first with the best of all possible answers

[Edited on October 16, 2011 at 6:02 PM. Reason : bbehe ]

10/16/2011 6:02:01 PM

If you have a job, have zero problems making the payments and are making payments, then for the sake of these discussion, it's not a debt.

Obviously, it's a debt in all other discussions.

^ lulz qtnmgod

[Edited on October 16, 2011 at 6:03 PM. Reason : a]

10/16/2011 6:02:25 PM

^^^No shit.

My debts are solely my credit card bill, but that gets paid off every month.

[Edited on October 16, 2011 at 6:03 PM. Reason : .]

10/16/2011 6:03:01 PM

So wait... renting is cooler then owning so you don't have to say you have any debt.

10/16/2011 6:05:18 PM

medical bills for my broke right hand surgery

10/16/2011 6:16:31 PM

none by OP standards...

by real life standards I owe $21K on my house and $160 on a credit card...

WOOT!

10/16/2011 6:18:08 PM

$2,550 less than what it was just a month and a half ago on credit cards. And how does Bank of America reward me? By cutting my credit limit to what I owed of course. Doesn't matter what they do though - I'm paying it all off before the next billing cycle. I'll never let them dictate my credit score. Credit limit slashing seems to be the story with them lately, even with people who have good credit. I may not be doing business with them anymore in the near future.

Somehow, my credit score did manage to go up 50 points even though they did cut my limit - I must be doing something right.

Hoping to only have student loans as debt before the middle of next year. I am done with credit cards after this. Savings accounts is where its at.

10/16/2011 6:28:40 PM

Like $45k in student loans but they're deferred until I'm done with school so I guess 0 by the OP standards

10/16/2011 6:37:02 PM

none by the OP standards, IRL about 2k on credit but that has 0% interest for another year and I'll pay it off by the end of the year.

10/16/2011 6:38:00 PM

have 25% equity in the house but 11.8 years of child support to go

10/16/2011 7:08:46 PM

more than most of your houses are worth.

10/16/2011 7:09:17 PM

Well shit, if we're saying that not being behind on payments means you're not in debt, I have zero debt.

10/16/2011 7:10:13 PM

We have $8k left for me student loans. I plan to finish paying it off early next year.

10/16/2011 7:20:40 PM

The only debt we have is $17k on my husband's car.
We won't even have that or a mortgage once we sell the house in Raleigh.
(I'm unwilling to flat out buy him a car until we know what the house is going to do.)

10/16/2011 7:40:39 PM

I wish we could have done a 15 year loan on the house. I would like to do that next time.

We have a car payment and my atrocious student loan.

10/16/2011 7:43:33 PM

car is paid for

1,400 on my credit card but its 0% intrest for 15 months

10/16/2011 7:46:50 PM

$750 in student loan and $773 on a hospital bill. I'll be debt free by next year.






And then I'll buy a car with a $10000 loan.

10/16/2011 7:51:05 PM

I have probably 12k left on 2011 car which will be paid off in less than 18 months, probably in 12 months depending on bonus. I could pay it off tomorrow as I have more than that amount in stocks and savings and would not have bought the car if I ever thought it would create any type of financial burden. I live well within my means and if I can't afford to buy anything straight up, I don't need it. Hopefully, by the time I figure out where I want to live permanently, I will be able to say the same for a house.


[Edited on October 16, 2011 at 7:59 PM. Reason : Reworded to sound less pretentious.]

10/16/2011 7:54:47 PM

Quote :

"if I can't afford to buy anything straight up, I don't need it."

This is a great rule of thumb. People would be much better off if they tried to follow it. My grandparents believed that way and ended up quite well off in the long run. Early on you might live quite sparely, but you really end up better off. My grandparents didn't own their own home until they could pay for it without a mortgage and were able to bank all of that money that most people pay out in interest.

10/16/2011 8:28:43 PM

what did they pay out in rent though in the years it took to save up for a house

10/16/2011 8:35:32 PM

Not a clue and I don't think that 1940s/50s rent is even comparable to today's standards. I know that they lived in a house with only one faucet, no indoor bathroom, and no closets until 1970 something.

10/16/2011 8:39:55 PM

None!

10/16/2011 8:40:07 PM

Quote :

"$45k in student loans"

major?

[Edited on October 16, 2011 at 8:42 PM. Reason : oh chem e. i see now]

get a job at a place like bio-gen and that should hopefully be able to cover your $600 a month min payments

[Edited on October 16, 2011 at 8:43 PM. Reason : .]

10/16/2011 8:41:35 PM

Debt free for 2 years now.

10/16/2011 8:42:29 PM

Chemical Engineering and English from the Franklin Scholars program but that's paid off, the $45k is from Law School

Sorry to shatter your dreams of thinking I majored in Women's Studies or something

10/16/2011 8:42:34 PM

oh ok law school. yeh man. you'll be at the top of some place in no time.

^didn't see that. not at all dude. just because we philosophically differ on our beliefs in 'why the world is f'd up right now' doesn't mean we can't have basic respect.

[Edited on October 16, 2011 at 8:46 PM. Reason : .]

10/16/2011 8:44:30 PM

^maybe. law school is one of the worst "investments" currently. so many graduates, so few jobs, shitty pay for years if you get one; otherwise, they're working menial service jobs.

10/16/2011 8:45:58 PM

Yeah I'm not all that worried about paying it off but thanks for your fake support

10/16/2011 8:46:50 PM

^ yeh man i hear ya. buddy of mine specializes in law dealing with real-estate. dude almost went homeless b/c of 0 demand.

funny, he actually found a job at a communications company around in this area technically funded by soros himself!

10/16/2011 8:47:26 PM

^^ awe negative dude.

chris, be as pissy as you want. i hope you can clear that debt shit up asap. it's gonna be a nagging bitch.

[Edited on October 16, 2011 at 8:49 PM. Reason : .]

10/16/2011 8:48:08 PM

about $40k in student loan. FML

10/16/2011 8:50:54 PM

Quote :

"just because we philosophically differ on our beliefs in 'why the world is f'd up right now' doesn't mean we can't have basic respect."

Quote :

"come on now don't be shy. show us your youtube channel playing the bongos like a champ you are"

Quote :

"hey guess what. if i have a client that wants to release a product on monday morning i work my ass off that saturday and sunday so i can make my money you faggot."

Anyway, I'm in a specialized field that's pretty badly underserved in NC right now. The people who are going trying to be like DAs and real estate lawyers and stuff like that are screwed though. If worse comes to worse I can take the patent bar thanks to my CHE degree, which is one of the few areas nationwide with pretty high demand, so yeah there are options.

[Edited on October 16, 2011 at 9:00 PM. Reason : BASIC RESPECT]

10/16/2011 8:51:02 PM

$25k in student loans with a nuclear engineering degree. Not other debts beside a mortgage.

I'm not counting my current $20k car loan because I buy/sell cars quickly. I've sold my last 4 cars for the same or more than what I paid after driving each car for 10k+ miles

10/16/2011 8:56:17 PM

As far as this thread goes....

My debt to equity ratio is: 0.52307692307692

10/16/2011 9:06:36 PM

Quote :

"I wish we could have done a 15 year loan on the house. I would like to do that next time. We have a car payment and my atrocious student loan."

What does that mean? Anything longer than a 15 year loan you could pay off early.

Anything shorter, you're paying less interest.


Which one are you crying about?

10/16/2011 9:08:42 PM

^^^^ sawy

[Edited on October 16, 2011 at 9:09 PM. Reason : .]

10/16/2011 9:09:23 PM

Quote :

"If you have a job, have zero problems making the payments and are making payments, then for the sake of these discussion, it's not a debt. "

by this definition, none.

10/16/2011 9:11:23 PM

My debt consists of:
home loan
student loan
credit card debt

credit card debt is currently being slashed though and only a fraction of what I racked up in the past is left, which I feel good about.
Student loan debt is pretty high, but i'm not worried about that. I will start tackling it after credit card debt is paid off in about a year.
Home loan... well i guess i've got 30 years to pay it off

10/16/2011 9:11:45 PM

Quote :

""If you have a job, have zero problems making the payments and are making payments, then for the sake of these discussion, it's not a debt. ""

what the hell kind of doublespeak is this shit?

10/16/2011 9:12:34 PM

Quote :

"If you have a job, have zero problems making the payments and are making payments, then for the sake of these discussion, it's not a debt. "

so what you are saying is you HAVE debt. you just dont consider it debt b/c you can make your minimum payments.

lol.

10/16/2011 9:14:49 PM

I believe the OP is trying, for some reason, to have a discussion regarding troublesome debts, versus normal debts that you are financially in control of.

10/16/2011 9:17:19 PM

180k mortgage debt at 3.75%

Hopefully rent that house out for a nice profit soon; looking for another house in FL now.

No other debt.

10/16/2011 9:17:57 PM

I think the op is trying to ask if anyone is behind in their bills.

10/16/2011 9:18:16 PM

Quote :

"if I can't afford to buy anything straight up, I don't need it."

Quote :

"This is a great rule of thumb. People would be much better off if they tried to follow it. My grandparents believed that way and ended up quite well off in the long run. Early on you might live quite sparely, but you really end up better off. "

This is the "old timer" way of thinking

people these days with their iPods do not think past their next 99 cent song download

paid off all debts and all I need is to find a career that I want to stick with



[Edited on October 16, 2011 at 9:25 PM. Reason : debts]

10/16/2011 9:19:35 PM

Yeah the credit card debt thing is really weird. Average household credit card debt is $10,000+ but I don't personally know a lot of people that carry much, if any, credit card debt. I wonder what the average is amongst people who actually have credit card debt to balance out the people who don't.

10/16/2011 9:25:01 PM

I don't think I'd ever again buy anything I couldn't pay cash for, aside from a house.

However, right now I would likely finance something like a car (or boat, or airplane...as opposed to say, a home theater setup) due to how low the interest rates are at the moment.

10/16/2011 9:26:43 PM