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So you’re saying the average American is in debt for the price of a nice car?
Why all of this worry over debt? If it cannot be paid, don’t pay it. And forget about the moral duty b/s. The loan was a deal that went bad. It just did not work out. When I get that moral duty line from a bill collector, my response is, “Well here in Philadelphia (Pa.) it is my moral duty to pay the rent, provided food, and keep the lights on. Everything else gets in line. Y’all can KMA and SMD.” And I keep ’em on the phone as long as they want. Eventually, they hang up frustrated often complaining, “You are just wasting my time.” And they hang up on me. Eventually, they give up even trying.
I don’t really see that ending well for you.
Amen, truer words have not ben spoken. How many times I’ve wanted to buy something but didn’t. Being without debt makes up for the difference of having something that you really didn’t need.
I wonder were that number came from. There is a large number of debt that is secured. Car loans, mortgages etc. I wonder why the true number of unsecured debt is. Credit cards, payday loans etc. That is where the trouble lies.
I admit I was there once. Now I am retired, debt free and own my home. Great feeling.
Feeling the need to spend to keep up with others (16%).
Cross that one is first!
You don’t need what everyone else has to be happy. The people in your life are more important than the things.
Secondly, getting out is debt, just to go back in debt for a vacation…..really?
Once you pay off that first credit card, it feels so good you want to keep going.
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