Debt, the full picture

treliac

PasturesNew wrote: »

All you younger generation are a bunch of big girl's blouses
:P

Can you see me through my computer?

Generali

moggylover wrote: »

The words Salt and Wounds keep popping into my mind

Gonna be a hot one tomorrow. 40C!!!

It Australia day w/e.

deefadog

What do they mean by owe, credit cards, loans etc?

I have no debt (credit cards, money loans), apart from my mortgage and our 2 cars which we pay interest free a month (like a lot of people). Are these car debts included in that?

zappahey

deefadog wrote: »

I have no debt (credit cards, money loans), apart from my mortgage and our 2 cars which we pay interest free a month (like a lot of people). Are these car debts included in that?

It's still debt, no matter what the interest rate might be. It's just that, in the case of the cars, the interest is hidden in the purchase price.

treliac

deefadog wrote: »

What do they mean by owe, credit cards, loans etc?

I have no debt (credit cards, money loans), apart from my mortgage and our 2 cars which we pay interest free a month (like a lot of people). Are these car debts included in that?

Sounds as if you are in a good position. As long as you keep making payments, your future looks fine.

The people who will lose, who are being referred to, and contributed towards the current situation, are those who maxed out on every possible means of borrowing, and kept on borrowing, in order to fund an unrealistic and unaffordable lifestyle.

The borrowing has had to stop now, they can't afford to pay back what they owe, having spent money that was never theirs and they stand to lose everything, or go bankrupt if they actually don't have anything of value because they've spent it all !