Quick question

trafalgar_2

Hi everyone,I've been reading DFW recently and was just wondering,when people say 'debt free' is that no debt except say mortgage ............or is it unmanageable debt that they are free from?


hope that makes sense

Broken_hearted

I take it to mean free of all debt or just have a mortgage left to pay off. If it was unmanageable debt I would be debt free (yeah right)

kuohu

I would agree. Free of all debt apart from mortgage (if you have one).

amosworks

I think having a mortgage is a huge debt. I don't see how people exclude it from their definition of being debt free just because it happens to be the single biggest debt they will likely ever have. It being the biggest doesn't make it special?

Debt is people having control over you if you don't give them money. Stop paying your mortgage for a few months and you'll soon see how much control people have over your life even if you are "debt free" :-\

fizzel81

i can say i am debt free when i am no longer paying an amount off(however small) on anything that i have borrowed the money on
doubt i will ever have a mortgage so my debt now is the most i will ever have(well i hope)

isgman

I think it's Free of all debt apart from mortgage >> But I will be guided if wrong..

Little_Miss_Winner

I don't include my mortgage, when I think of "being in debt".......If i didn't have a mortgage I would be paying someone rent for the rest of my life.

Debt is people having control over you if you don't give them money

So if you don't pay a landlord ever agin...then surely he would take action too?

mom23

I don't include mortgage as we all need a roof over our heads(some just have bigger roofs than others!!) wether it be mortgage or rent!! isn't our home an asset(sp) and isn't it only the interest that is the real debt
Someone can put me right!!LOL :rotfl:

amosworks

Only if you owed rent, which would mean you were in debt to him

roversbabe

I'm not including my mortgage - the debt that I cleared was everything else, cc's, finance agreements and loan.

I realise that the mortgage is also debt and that is my next target, once I'm certain how the finances will be once the baby is born.

rb

Broken_hearted

Mortgage is a debt yes, but then again so is council tax if you look at it that way. They send you a bill for services and you pay throughout the year. God help you if you don't pay. My Mortgage is £145 a month, my council tax is nearly £90.