What can be done to solve the problemo?
2007-10-24 05:31:01 · 12 answers · asked by Anonymous in Business & Finance ➔ Personal Finance
There are legitimate reasons to go into debt. Purchasing a home is often one of them. Who can come up with the full price all at once? Not many people. But many people can put down 20% and pay over 30 years for the rest. That debt makes sense as the underlying asset USUALLY, and HISTORICALLY will increase in value (present situation excepted).
Another good reason is a targeted and focused education.
Paying for health care of a child is another reason as most people would do anything for their children.
Other reasons aren't so good!
2007-10-24 10:01:17 · answer #1 · answered by Rush is a band 7 · 0⤊ 0⤋
Can only speak for myself luvvie, I was on straight and narrow,....
Then had 3 cars stolen in succession, and 2 accidents that were not my fault - But the daft system in the UK meant I could only claim for one car.
In the space of a year I lost 5 jobs ALL through no fault of my own (redundant/laid off 1 firm ceased trading )
Then the dog broke a ligament which was £700 ($1400)
Another car - and the head gasket blew -so had to scrap that one
All this had to be paid for by credit card as we had no savings.
Then I thought I would get every credit card I could get as much cash from them as I could for a down payment on a mortgage.
So sometimes its pure bad luck sometimes its self inflicted, but never ever think its always self inflicted
2007-10-24 12:42:23 · answer #2 · answered by Anonymous · 1⤊ 0⤋
because it is so easy to slide that little card though that little slot and say charge it.
And we can not tell ourselves NO. And because some stupid credit card company just keeps sending these card though the mail and people just use them, thinking that they can pay it back.
2007-10-24 13:52:57 · answer #3 · answered by Anonymous · 0⤊ 0⤋
Unless you have a really high income, you will need credit to afford a middle-class style of living.
2007-10-24 12:38:51 · answer #4 · answered by Shat Splatterson 2 · 0⤊ 1⤋
Self absorbed, impatient, childish behavior patterns usually!
2007-10-24 12:42:03 · answer #5 · answered by Wounded Duck 7 · 0⤊ 1⤋
Their children get sick or injured and the hospital bills are horrendous.
National Health Care
2007-10-24 12:34:00 · answer #6 · answered by Feeling Mutual 7 · 3⤊ 1⤋
cut up the credit cards and stop getting what you dont need !
2007-10-24 12:34:46 · answer #7 · answered by Anonymous · 1⤊ 0⤋
too much credit issued for them
2007-10-24 12:38:19 · answer #8 · answered by Anonymous · 0⤊ 0⤋
Do with out things you do not need.
2007-10-24 12:34:01 · answer #9 · answered by Anonymous · 1⤊ 0⤋
~People need things that they can't afford at the time like homes and cars.
~People need to go to college and don't have rich parents to pay for it.
2007-10-24 12:34:17 · answer #10 · answered by Anonymous · 1⤊ 2⤋