/biz/ - Business & Finance

10k credit card debt at 15%apr
25k car loan 3.99%

I was a dumbass about credit cards 5 years ago and I'm still dealing with the consequences. Don't spend money you don't have.

My property I bought for 430k 2 years ago. I owe 90 grand. That’s all the debt I owe and it sucks

>$800 student loan
Idk, government paused that before I could pay it off. 5.5%?
>$11000 covid small business loan from the SBA
2.2% APR?
>$8000 credit card debt
0% APR until March of next year, will pay off before that

>>22662312
atleast you learned your lesson. For me it's
90k mortgage at 3.49% APR (15 year loan)
$500 in revolving CC debt
6k in student loans, down from 30k 3 years ago at 5.49% apr

>>22662201
3k credit card at 25.99% apr
11k auto loan at 11.99% apr
2k medical bills at 0 apr.
5 years of a ch 7 bk, 2 more years and it should fall off. It nuked my credit hence the shitty apr for my auto loan.

What the actual fuck you amerimutts have insane interest rates.

20k car loan 1.1% apr
180k house 0.80% apr

I have 1.5k on leverage that you just reminded me to pay back tomorrow before I get charged interest. other than that , I'm debt free.

I have about 3k I'm paying off with 0% APR. As long as your credit is decent, it's pretty easy to get these 0% APR deals.

>>22662201
In Romania is 10.5% for a personal loan, and 4.5% for a loan to buy a home, in local currency

>>22662775
Yep. We have 0% APR offers for credit cards if you have good credit, but that's always a limited time offer.

>>22662201

>>22663203
You can say the same thing about 10 different bobo threads anytime something goes down by 1%. All we do is recycle the same content over and over again

715k home loan @ 3.1%
Cars and student loans paid off, no revolving CC debt.
~800k in assets

Imagine being in serious debt and still taking your unpayable credit card bills in the ass every month and/or filing for bankruptcy. I got a consumer proposal a few years back, almost paid off, almost rebuilt my credit, life's good.

>>22663454
Depending on how deep people are in debt, chapter 7 can be a good option. As long as people actually learn their lesson after, I have no problems with it. Their ruined credit for the next 10 years is punishment enough IMO

Agree, some people just fall on rough times and can rebuild through ch7. Unfortunately there’s also a lot of idiots out there who never learn there lesson and/or have no intentions of trying to learn how to manage finances.

>>22663278
so you say you are not even redditing?

>>22662201
no debt cuz im not a jew puppet

>>22662201
110k for my house
1% yearly interest rate over 15 years

>>22663657
Debt at low rates is not a bad thing to help build wealth. I’d rather keep money in higher return investments than pay off a low interest rate debt with it.

>>22662201
debt is slavery. imagine being in debt. is anything, max out credit cards and don't pay them back. a few years and you good.

or look into Verasity.

>>22663526
>>22663626
True, I got a consumer proposal simply from credit card debt being a retarded young person with too many vices. Chapter 7 is pretty much your only option when it comes to mortgages, student debt, or any 6 figure level of obligation.

Good luck to anyone in the hole right now, my only advice is don't continue kicking the can down the road if you know in your gut that you're truly fucked.

>>22662201
30k CC debt 14-22%

40k student loans 4.25%

2k auto 3.5%

Used the CCs to get additional liquidity in March/April for stocks. The bets paid off, as I'm currently sitting on 24k equities, 112k cash (about 85k is profit from T.FAGMAANN stock and option plays) and a small 10k stack of crypto (all profit from my stock trades)

The unsecured loans I'll pay back once I decide I can't outpace gains with the current rate of asset inflation. For now, I'm holding the cash and paying the minimums, with about 10-15k i use for some day to day swing trades. I'll make the final call after the election. The liquidity is more important to me than paying the interest, or even my credit as a whole.

Student loans, I pay the minimum, and will never pay them off. Gov will forgive in the next 5 years.

Auto, I'll pay it off tomorrow now that I think about it.

Already own a modest house that works for me. Paid it off with TSLA calls before the the pandemic dump, matter of fact.

Debt is a liquidity tool. Anyone NOT in debt right now, especially of the unsecured variety, is a fucking idiot. There are so many uncertainties.

Paying off a phone. I thought it would help my credit by paying it off weekly but no idea if it is. No other debt cus I'm white and had a free ride through college.

>>22662775
the kikes have our country, government and economy in a death grip. they privatized the printing of our money for fucks sake. our government doesnt even print money, the FED prints our money and our retarded government BORROWS IT FROM THE FED AT A 1% INTEREST RATE, LIKE WHAT THE FUCK COULD BE MORE RETARDED THAN THAT

>>22663766
Student loans aren't forgiven in chapter 7. They are the biggest scam out there and I'm glad only owe 6k on them as of current. I took out 30k of them several years ago, which I guess isn't terrible considering most people seem to take out way more.

>>22662201
How thr fuck u even end up in debt. Id rather be homeless.

>>22663863
Congrats. I had a partial ride scholarship. Paid for roughly 40% of expenses

>>22663935
this desu
the fed is a private bank owned by private shareholders
its about as federal as fedex

Zero debt, but also only like $10k net worth. 26. Not sure how I feel about it.

debt free. I'm saving up so I can pay for a house with cash, but that's going to take like 4 years of living like a monk unless we have a big housing crash. Anyone hear of some crash coming soon?

$5k student loan at 0.16% interest (State loan). That's it for debts, i'm keeping that however long they let me :)

About $45000 net worth, buying a house with the wife soon so we'll need it. The bank is offering 1.29% on the house loan, seems fair. I'll look into it further when time comes

>>22663944
Really? Damn, normies are such hyprocrites. At the end of the day a student loan is actually more sketchy than getting a cash advance from a Money Mart in the hood, it seems.

>>22662201
I have 15k of bad debt and 250K of good debt, that what Sallie Mae told me.

>>22664147

Eh. Government backed student loans are pretty generous/forgiving, and don't have ridiculous interest rates. The sketchy part is giving 50,000 no strings attached to children that just turned 18 and have no real financial life experience and telling them to make responsible choices in college for the next 4 years after they've just gained adulthood freedom.

>>22664095
Why use all that cash when you can get a low interest rate loan and invest your cash elsewhere for a higher return than what you are paying on the home loan? People amass wealth by borrowing, not paying cash for everything.

>>22664147
Yep. One of my jackass cousins filed for chapter 7 on $6,000 worth of payday loans from 7 different places a few months ago. Interest was something insane like 350% APR

>>22664247

Because apparent risk. The money I'm saving for a home is being invested, so I am building wealth. If there's an extremely safe nearly guaranteed way to beat out interest rates then I might be interested, but for now I just really don't like debt.

>>22664239
>student loans
>forgiving
Where do you live, Switzerland? Qatar?

>>22664263
Damn, whoever advised him to do that is fucking terrible. I had way more than $6K in sketchy debt and the consumer propsal was no problem at all.

>>22664437
My thoughts exactly. He also has 3 DUIs and works at some temp agency. Not a bright guy

0 debt because I don’t have a (((credit card))) or take (((loans))) and live with my parents while paying no bills and taking home over a grand a week
I only hold nominal amounts of btc to buy drugs and just come here to laugh at you neokikes that are constantly losing money

>>22663203
based script kiddie

>>22664437

I had some student loans that I got payment deferred for like 6 years as I dragged my feet finishing classes, it was almost no questions asked. I didn't accrue interest because they were subsidized loans, and the few unsubsidized loans I had that did accure interest, I paid with more subsidized. Interest rates were always pretty low. I hear they are pretty flexible with payment consolidation and making minimum payments lower with financial difficulties.

I mean, I could have just been lucky, but I was pretty happy with my loans. I'd probably be singing a idfferent tune if I had 100K in debt and was a child that couldn't responsibly save money, but I saved money for the 6 years I had my loans deferred, then paid them all off within 6 months of getting a good job.

>>22664373
index funds are virtually guarenteed to make 7% a year at least on average, it is far smarter to get a mortgage at 2.9 percent and pay the interest on the mortgage while having the rest of ur money in an index fund. Its basically a free house at that point. Plus when you finally do pay off the house, you gain the equity, on top of the extra 3-4 % u made from the index fund subtracting the interest lost from the house loan, its not rocket science, people just dont seem to understand simple investment strategy. Usually the case with normies.

>>22662201
Zero im a eurofag kek

>>22664787
Exactly.. High net worth people, unless they got there through an inheritance, borrow a lot of money to make more money. People who preach that they pay cash for everything usually have little net worth and don’t understand basic investing.

>>22665275
Seconded. Zero debt. Kraut reporting. Always amusing to see what a shithole America has become. Seems we have won in the long run.

>>22665408
Most of us live better than the vast majority of the world. The media just paints a different picture.

>>22665284
There's good and bad leverage. People get greedy all the time and loose everything in bad investments. It's important to remember that the bank and wallstreet will try to take your money if they think they can. Smart leveraging though is important for exponential growth of your business.

>>22663935
Yeah not enough people fully comprehend not only how retarded this is, but that it’s turned us into slaves. There will never be enough money to pay off the interest if the money itself was loaned in the first place. The debt will always grow, the “fed” will always have this country on a leash as long as this is allowed to continue. Our constitution is a long lost ideal

>>22665848
Absolutely agree, I work in investment management and understand leveraging your portfolio.

>>22662201
None. I won't even buy a house. I'm not going to go into debt for any reason. I'm 41and will not pay interest. I work hard for my money, I'm not going to let those fucks take advantage of me.

>>22662201
0 debt. If all goes to plan I'll never need any.

>>22664003
most people I know at that age, including myself at that time had at least five figures of debt. so I would feel pretty good.
I'm now 35 with a half mil poz net worth, so you got plenty of time

I owe $721 to the foot doctor that fixed both of my severe ingrown toenails. I should probably go pay that tomorrow. Other than that no debt.

Can't go into debt if you don't own anything.