my guess is yes, but thank God, my parents don't have any debts!
2007-04-23 07:11:25 · 11 answers · asked by Anonymous in Entertainment & Music ➔ Polls & Surveys
good for you bbear20
2007-04-23 07:14:23 · update #1
Sure - it's the american way. Mortgages, car loans, credit cards, school loans... most people will have at least a couple of these. If nobody ever took on debt, and everyone paid cash for things, the US economy would collapse like a house of cards.
Being in debt is not a stigma or a problem. Being in over your head is. The trick is to know what you can handle, and to live within those limits.
2007-04-23 07:16:46 · answer #1 · answered by Ralfcoder 7 · 3⤊ 0⤋
Yes, & that is as it should be. To live without bebt is inconvenient, impractical, undesirable & darn near impossible. Who pays cash for a car, house, education. Lets go on - furnature, vacations, & let's not forget that all types of insurance & medical & death expences are contractural financial obligations, i.e. -debts. But, let's assume you could errase all your debt; what would you have? Answer-a low credit score. You have to have a current history of paying your debts to be considered a good credit risk. While being debt free sounds good - it's not. I was once told that if I was to maintain my credit rating, I needed more debt. So, I bought a new car.
2007-04-23 07:32:52 · answer #2 · answered by Rudy R 5 · 0⤊ 0⤋
Let's see....we owe 3 1/2 more years on our house, 14 months on my car, hubby and I each have a credit card with $200 limits and about $1200 in medical bills. Hubby needs a new car in the worst way....we'll be looking at another car payment soon.
I disagree with Ralfcoder...I think credit cards have screwed this country over...if everyone had to pay cash and live within their means then we wouldnt have such high bankruptcy rates and foreclosure's at an all time high. If everybody actually lived on what they made and not feel the need to "keep up with the Jones'" we'd all be better off.....
2007-04-23 07:23:24 · answer #3 · answered by ~LAX Mom~ 5 · 0⤊ 0⤋
We have one credit card and some medical bills that we are paying off all of this amounts to under $1000. We have debt but its manageable and going to be paid off soon.
2007-04-23 07:14:00 · answer #4 · answered by bbear20 4 · 1⤊ 0⤋
i think the majority do, because we're mostly a middle class society and think of how many debts a middle class person has, school loans, car loan, credit cards, mortgage, etc.
2007-04-23 07:15:27 · answer #5 · answered by patti406 3 · 1⤊ 0⤋
Yup
2007-04-23 07:14:39 · answer #6 · answered by Jon S 4 · 1⤊ 0⤋
Yep I do..mostly medical and credit cards,my home and cars are paid off now..
I try not to live beyond my means though..>=)
2007-04-23 07:19:07 · answer #7 · answered by Anonymous · 1⤊ 0⤋
Don't and won't do plastic. If I have to ask how much it cost,chances are I can't afford it.
2007-04-23 07:16:43 · answer #8 · answered by i had to go im so sorry 4 · 1⤊ 0⤋
yup, mortgage, car, few credit cards nothing too drastic.
2007-04-23 07:16:28 · answer #9 · answered by Peachy 5 · 1⤊ 0⤋
school loans
2007-04-23 07:13:47 · answer #10 · answered by Anonymous · 1⤊ 0⤋