What is your level of debt

11-23-2008, 12:06 AM

Debt free

Metaphor · 11-23-2008, 12:18 AM

Quote:

Originally Posted by Deoxyan

Debt free

Lucky you

Personally im deep into it. Me and my wife have a mortgage on 220000 euros, beat that if you can, haha (it its a contest to have the most debt right?

)

Im not sure how to solve it, but I think a plan could be to NOT pay for the loan. Just paying the interest, and wait. The money we have over after the interest is no much, so keeping afloat and see what happens is my plan. Hopefuly we´ll be able to get a rented apartment (wich is pretty hard where i live) and then be debt free if we sell, if only the prices will stay above what is normal

11-23-2008, 12:20 AM

in spain that´s absolute common, more in madrid even. 105m 2 costs where i live just that, 220000€, and down. 2 years ago the same costed nearly 300000€.

the world has now what it deserves.

Waterman · 11-23-2008, 12:54 AM

Baggy,

Take your extra money and pay cash for something else. The monetary collapse is going to cause you to regret putting so much into the debt of your house. Hang on for about 4-5 months if you make it that long, then do whatever, because by then you will know.

KassandraLoves · 11-23-2008, 01:34 AM

I could pay off one of my vehicles (15k) if i wanted, but the hubbs and I wanna keep the money for now, just in case...I owe about 410,000 on my house (YIKES!!)...But no credit card debt, thank god!

I have a lot of assets, though, and assets are the key in the banks mind really. If it comes down to it, youd have to be able liquidate your "assets" in order to pay for your debts without using money. We own 4 motorcycles and 2 paid off cars. So those assets would help me if I needed them.

Im not doing too bad, but my paychecks are so awful right now I have to get a second job. Working in the "finance" industry isnt too lucrative right now....ack!

KassandraLoves · 11-23-2008, 01:40 AM

But seriously? Its not going to matter, soon what debt you have. Because if you cant "pay" the debt when they "call it in" then they would NORMALLY take your assets. Well, what the hell are they going to do with a bunch of empty houses and useless cars and sh*t? Im sure it'd get so wacky that youd just end up in a gray area if the whole country was dealing with the same thing....The bank takes FOREVER to repo a house anyway...and if theres over a million houses that need repo-ing? Itd just be nuts. If the banks crumble, they wont want the houses anyway, is my line of thinking...what the heck are they going to do with them???? Same with cars INMO....

Who the eff knows.

Besides, I think i heard somewhere that if there are mass quantities of empty houses and people living on the streets, that by law you can occupy those houses as to not create huge amounts of homeless citizens while the houses sit empty.

Where did I hear that....hmmm.....

Like I said, I work in financing for a living....so if I hear anything weird is going down with the banks, I will post immediately....

Northern Boy · 11-23-2008, 01:44 AM

I don`t worry about it cause the guys at the top look to be going down just last week Citigtoup stock was cut in half Bank of America is in bad shape as well watch the market and if it drops a third of its value in one day get your hands on as much cash as you can because 2 days after that you will not be able to get any cash out of the bank and troops will be deployed to all federal reserve banks to protect any gold in them when its gone its gone as far as food goes ... get your hands on some survival books and find out what nature has to feed yourselves with

Northern Boy · 11-23-2008, 01:49 AM

Quote:

Originally Posted by KassandraLoves

I could pay off one of my vehicles (15k) if i wanted, but the hubbs and I wanna keep the money for now, just in case...I owe about 410,000 on my house (YIKES!!)...But no credit card debt, thank god!

I have a lot of assets, though, and assets are the key in the banks mind really. If it comes down to it, youd have to be able liquidate your "assets" in order to pay for your debts without using money. We own 4 motorcycles and 2 paid off cars. So those assets would help me if I needed them.

Im not doing too bad, but my paychecks are so awful right now I have to get a second job. Working in the "finance" industry isnt too lucrative right now....ack!

they will relocate everyone to an all expense resort stay at the nearest club fema

KassandraLoves · 11-23-2008, 01:56 AM

Quote:

Originally Posted by Northern Boy

they will relocate everyone to an all expense resort stay at the nearest club fema

CLUB FEMA, YAY???

I dont know how I feel about that...I really do think theres a law of some sort....Ill have to do some research on that one though....Oh wait...they dont follow the law anymore....

Good thing my husband is in the military....Maybe I can take them down from the inside? LOL

Ampgod · 11-23-2008, 02:22 AM

Only in debt enough that I have the money to cover the full payment.
(It's my wife and the credit cards. Geez

)

Myplanet2 · 11-23-2008, 03:37 AM

Quote:

Originally Posted by Northern Boy

they will relocate everyone to an all expense resort stay at the nearest club fema

Don't laugh. There's reportedly a fema camp ready to go near Barrie.

Northern Boy · 11-23-2008, 06:13 AM

I`m not going can tell you that I`m a fighter and certainly not going out on their terms

munit · 11-24-2008, 05:19 AM

I have been very fortunate not to get caught in the WEB
my parents had always taught me to pay in Full and Save

mmerlinn · 11-29-2008, 12:18 PM

No debt.

Monthly recurring bills only. And they have been cut as much as they can be at the present time. But, am looking to cut them further when the opportunity arrives.

Also have lots of LIQUID assets that can be sold in hours.

Only worry is theft of assets (by private parties and/or government thugs) should things get really bad.

Rareheart · 11-29-2008, 12:32 PM

I have no debt.
I gave away all of my assets.

I've come to believe that ownership is a farce. Everything I've ever had or ever will have is only borrowed during my time here (in physical form).

I make a living through my skills...which seem to be more needed as each day goes by.
This method will not work for everyone...obviously. Unlike most people...I have no dependents. This actually gives me more freedom to be of service-to-others.

"A dying man takes with him, grasped firmly in his hands, only that which he has given away."

alternative-answer · 11-29-2008, 05:43 PM

Credit Cards; No Need to Pay...you already have!
http://www.thetruthwillout.com/credit_cards.html

View Poll Results: What is your level of debt
I'm debt free	20	28.17%
Only have my mortgage	15	21.13%
Somewhere in between	20	28.17%
I'm swirling the drain	16	22.54%
Voters: 71. You may not vote on this poll

11-23-2008, 12:06 AM	#1
Deoxyan Guest Posts: n/a	Re: What is your level of debt Debt free

11-23-2008, 12:20 AM	#3
Deoxyan Guest Posts: n/a	Re: What is your level of debt in spain that´s absolute common, more in madrid even. 105m 2 costs where i live just that, 220000€, and down. 2 years ago the same costed nearly 300000€. the world has now what it deserves.

11-23-2008, 12:54 AM	#4
Waterman Avalon Senior Member Join Date: Sep 2008 Posts: 345	Re: What is your level of debt Baggy, Take your extra money and pay cash for something else. The monetary collapse is going to cause you to regret putting so much into the debt of your house. Hang on for about 4-5 months if you make it that long, then do whatever, because by then you will know.

11-23-2008, 01:34 AM	#5
KassandraLoves Avalon Senior Member Join Date: Nov 2008 Location: WA, USA Posts: 187	Re: What is your level of debt I could pay off one of my vehicles (15k) if i wanted, but the hubbs and I wanna keep the money for now, just in case...I owe about 410,000 on my house (YIKES!!)...But no credit card debt, thank god! I have a lot of assets, though, and assets are the key in the banks mind really. If it comes down to it, youd have to be able liquidate your "assets" in order to pay for your debts without using money. We own 4 motorcycles and 2 paid off cars. So those assets would help me if I needed them. Im not doing too bad, but my paychecks are so awful right now I have to get a second job. Working in the "finance" industry isnt too lucrative right now....ack!

11-23-2008, 01:40 AM	#6
KassandraLoves Avalon Senior Member Join Date: Nov 2008 Location: WA, USA Posts: 187	Re: What is your level of debt But seriously? Its not going to matter, soon what debt you have. Because if you cant "pay" the debt when they "call it in" then they would NORMALLY take your assets. Well, what the hell are they going to do with a bunch of empty houses and useless cars and sh*t? Im sure it'd get so wacky that youd just end up in a gray area if the whole country was dealing with the same thing....The bank takes FOREVER to repo a house anyway...and if theres over a million houses that need repo-ing? Itd just be nuts. If the banks crumble, they wont want the houses anyway, is my line of thinking...what the heck are they going to do with them???? Same with cars INMO.... Who the eff knows. Besides, I think i heard somewhere that if there are mass quantities of empty houses and people living on the streets, that by law you can occupy those houses as to not create huge amounts of homeless citizens while the houses sit empty. Where did I hear that....hmmm..... Like I said, I work in financing for a living....so if I hear anything weird is going down with the banks, I will post immediately....

11-23-2008, 01:44 AM	#7
Northern Boy Avalon Senior Member Join Date: Oct 2008 Location: On this Rock Posts: 1,390	Re: What is your level of debt I don`t worry about it cause the guys at the top look to be going down just last week Citigtoup stock was cut in half Bank of America is in bad shape as well watch the market and if it drops a third of its value in one day get your hands on as much cash as you can because 2 days after that you will not be able to get any cash out of the bank and troops will be deployed to all federal reserve banks to protect any gold in them when its gone its gone as far as food goes ... get your hands on some survival books and find out what nature has to feed yourselves with

11-23-2008, 02:22 AM	#10
Ampgod Avalon Senior Member Join Date: Sep 2008 Posts: 310	Re: What is your level of debt Only in debt enough that I have the money to cover the full payment. (It's my wife and the credit cards. Geez )

11-23-2008, 06:13 AM	#12
Northern Boy Avalon Senior Member Join Date: Oct 2008 Location: On this Rock Posts: 1,390	Re: What is your level of debt I`m not going can tell you that I`m a fighter and certainly not going out on their terms

11-24-2008, 05:19 AM	#13
munit Avalon Senior Member Join Date: Sep 2008 Posts: 19	Re: What is your level of debt I have been very fortunate not to get caught in the WEB my parents had always taught me to pay in Full and Save

11-29-2008, 12:18 PM	#14
mmerlinn Avalon Senior Member Join Date: Oct 2008 Posts: 26	Re: What is your level of debt No debt. Monthly recurring bills only. And they have been cut as much as they can be at the present time. But, am looking to cut them further when the opportunity arrives. Also have lots of LIQUID assets that can be sold in hours. Only worry is theft of assets (by private parties and/or government thugs) should things get really bad.

11-29-2008, 12:32 PM	#15
Rareheart Avalon Senior Member Join Date: Sep 2008 Location: SE Coast, US Posts: 195	Re: What is your level of debt I have no debt. I gave away all of my assets. I've come to believe that ownership is a farce. Everything I've ever had or ever will have is only borrowed during my time here (in physical form). I make a living through my skills...which seem to be more needed as each day goes by. This method will not work for everyone...obviously. Unlike most people...I have no dependents. This actually gives me more freedom to be of service-to-others. "A dying man takes with him, grasped firmly in his hands, only that which he has given away." Last edited by Rareheart; 11-29-2008 at 12:41 PM.

11-29-2008, 05:43 PM	#16
alternative-answer Avalon Senior Member Join Date: Sep 2008 Location: Bournemouth Posts: 199	Re: What is your level of debt Credit Cards; No Need to Pay...you already have! http://www.thetruthwillout.com/credit_cards.html