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View Poll Results: What Amount Would It Take To Get You Out Of Debt?
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$0-$20,000
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13 |
43.33% |
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$21,000-$50,000
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4 |
13.33% |
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$51,000-$100,000
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3 |
10.00% |
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$100,000+
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10 |
33.33% |
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12-30-2010, 11:17 AM
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mary
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Join Date: Apr 2009
Location: Midwest
Posts: 3,002
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Re: What Amount Would It Take To Get You Out Of De
Quote:
Originally Posted by ILG
There is a huge student loan debt bubble that could burst anytime with huge defaults just like the mortgage crisis.
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I'm not sure how a student loan debt bubble burst would affect the economy. It pushed house prices down, but I think it could push college costs up. Thoughts?
__________________
What we make of the Bible will never be as great a thing as what the Bible will - if we let it - make of us.~Rich Mullins
I do not feel obliged to believe that the same God who has endowed us with sense, reason, and intellect has intended us to forgo their use.~Galileo Galilei
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12-30-2010, 11:21 AM
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DOING THE FIRST WORKS
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Join Date: Dec 2007
Posts: 2,069
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Re: What Amount Would It Take To Get You Out Of De
Quote:
Originally Posted by Digging4Truth
In my opinion silver is a better investment than gold and not just because it is easier to be able to afford the investment.
Right now Gold is setting all time highs in value while silver is a little over half of it's all time high. Silver is still undervalued compared to gold.
Also... being one who believes the dollar will collapse... If I have a million dollars in the bank and the dollar collapses then I have little to nothing. Investment in precious metals... actually metals of any kind... even long storage food commodities... is trading a volatile commodity with a possible short life left for something that will hold it's value against a falling dollar.
When the value of the dollar goes down then the prices of items goes up.
If the dollar goes down... aluminum goes up... copper goes up... silver goes up... gold goes up... rice goes up... beans go up...
I'm getting out of the dollar in a number of ways because of the future I feel rests ahead for it.
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You are a wise gentleman. Follow this wisdom and you will not regret it.
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12-30-2010, 11:23 AM
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Registered Member
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Join Date: Apr 2007
Location: Wisconsin
Posts: 11,467
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Re: What Amount Would It Take To Get You Out Of De
Quote:
Originally Posted by missourimary
I'm not sure how a student loan debt bubble burst would affect the economy. It pushed house prices down, but I think it could push college costs up. Thoughts?
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I think more kids will be living with parents. I don't see college costs going up. I think they will start regulating for-profit colleges (like University of Phoenix). I am not sure how it will affect the economy as a whole with the exception that it will cause a further hole in what we already have.
__________________
Those who say it cannot be done should not interrupt the people doing it. ~Chinese Proverb
When I was young and clever, I wanted to change the world. Now that I am older and wiser, I strive to change myself. ~
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12-30-2010, 11:27 AM
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Still Figuring It Out.
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Join Date: Feb 2007
Posts: 10,858
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Re: What Amount Would It Take To Get You Out Of De
Quote:
Originally Posted by Apprehended
You are a wise gentleman. Follow this wisdom and you will not regret it.
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Those are very kind words. Thank you... & I'll do my best. 
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12-30-2010, 11:28 AM
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DOING THE FIRST WORKS
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Join Date: Dec 2007
Posts: 2,069
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Re: What Amount Would It Take To Get You Out Of De
Here is a very helpful link that you will thank me for....
http://www.survivalblog.com/
Key in the word "nickel" and see the article there.
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12-30-2010, 11:32 AM
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Registered Member
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Join Date: Apr 2007
Location: Wisconsin
Posts: 11,467
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Re: What Amount Would It Take To Get You Out Of De
http://finance.yahoo.com/college-edu...ady-to-explode
This article uses an extreme example, but talks about the next bubble.
__________________
Those who say it cannot be done should not interrupt the people doing it. ~Chinese Proverb
When I was young and clever, I wanted to change the world. Now that I am older and wiser, I strive to change myself. ~
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12-30-2010, 11:39 AM
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Still Figuring It Out.
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Join Date: Feb 2007
Posts: 10,858
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Re: What Amount Would It Take To Get You Out Of De
Quote:
Originally Posted by Apprehended
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I've forwarded this article to select friends & family. Thanks for sharing. Great info.
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12-30-2010, 11:42 AM
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just lurking...
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Join Date: Feb 2007
Posts: 1,808
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Re: What Amount Would It Take To Get You Out Of De
Quote:
Originally Posted by Digging4Truth
You gained $3200 in medical bill debt.
He gained a $111,000 mortgage.
Hey... you didn't come out too bad. |
I admit it! I don't view mortgage debt as true debt! Or more likely I view it as a necessary evil. On the bright side, I only have 28 more years to pay it off 
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12-30-2010, 11:53 AM
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Supercalifragilisticexpiali...
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Join Date: Feb 2007
Posts: 19,197
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Re: What Amount Would It Take To Get You Out Of De
I voted the first option. However, my company has some business debt. It is a separate identity, though.
Any debt questions really need to be viewed in terms equity remaining after the debt is satisfied. If there is 20,000 Lien against a million dollar property it's no big deal at all.
__________________
"It is inhumane, in my opinion, to force people who have a genuine medical need for coffee to wait in line behind people who apparently view it as some kind of recreational activity." Dave Barry 2005
I am a firm believer in the Old Paths
Articles on such subjects as "The New Birth," will be accepted, whether they teach that the new birth takes place before baptism in water and Spirit, or that the new birth consists of baptism of water and Spirit. - THE PENTECOSTAL HERALD Dec. 1945
"It is doubtful if any Trinitarian Pentecostals have ever professed to believe in three gods, and Oneness Pentecostals should not claim that they do." - Daniel Segraves
Last edited by Hoovie; 12-30-2010 at 11:58 AM.
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12-30-2010, 12:19 PM
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Still Figuring It Out.
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Join Date: Feb 2007
Posts: 10,858
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Re: What Amount Would It Take To Get You Out Of De
Quote:
Originally Posted by Michlow
I admit it! I don't view mortgage debt as true debt! Or more likely I view it as a necessary evil. On the bright side, I only have 28 more years to pay it off |
Hey... bare minimum it's "I can show something for it" debt.
Like I said... $25k would get me out... maybe less. But about 16K of that is my van... which is actually my mortgage because I refinanced my van and bought my land & house straight cash.
So my van would have already been paid for except for the fact that it became my mortgage.
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