Does debt make you nervous?

[pennwalk]

I just read in the paper that my share of the national debt is $26,866.45. If you count the 4 people in my family that's over 100K. I hope someone doesn't come around looking for their money. /forums/images/graemlins/blush.gif

Chris

 

[RedRocker]

I'll need a higher limit on the credit card.

 

[gsxr1100]

That is because eveyone is spending more then they can afford.

Outside of my mortage, that is all I have for debt.

 

[MossRoad]

Mom and Pop told me some good advice when I was a young man....

"Never spend more than you make."

That has done our family very well for the last century or so... /forums/images/graemlins/grin.gif

However, we have to count our blessings, because there are so many things that could happen to take it all away in a heartbeat, such as catastrophic illness, social unrest, financial collapse, etc...

While many folks dig their own hole, some truly are a victim of circumstances beyond their control. Those are the folks that need and deserve our help to get out of the hole. /forums/images/graemlins/crazy.gif

 

[riptides]

I am surprised that is all.

I don't have any debt other than credit cards, car payments, fuel cards, mortages and loan sharks. Other than that I am not really worried as I know I will be working for someone else for the next 30 years or so.

And one health issue, and like probably 30 percent of Americans, I go bankrupt.

So I don't worry about it. I enjoy life.

-Mike Z. /forums/images/graemlins/grin.gif

 

[SkyPup]

The Federal laws for Chapter 7 and Chapter 13 Bankruptcy were just recently rewritten to make it more difficult to file under either law.

 

[gsxr1100]

</font><font color="blue" class="small">( ]( The Federal laws for Chapter 7 and Chapter 13 Bankruptcy were just recently rewritten to make it more difficult to file under either law. ) )</font>

I was reading online that people where flooding to file before the laws changed.... shocking ha!

Remember cash is king!

 

[SkyPup]

The laws were rewritten primarily to filter out the multitudes of blood sucking shyster lawyers that were parasiting those who filed.

And also to make it easier for those on the low end to file, while making it more difficult for those on the high end to file.

 

[Boondox]

Yeah, the national debt makes me very nervous. It would be nice if government led by example.

My wife and I have paid off everything. No debt at all. No mortgage, no car payments, no loans of any kind. So I can invest/save over half of what I bring home. But all it takes is one catastrophic illness to change all that!

Pete

 

[MossRoad]

Yep, you plan, plan and plan some more, but some meteor comes out of space and whacks your plans. I suppose I would rather be hit by a meteor than blue ice off an airline toilet, though! /forums/images/graemlins/tongue.gif

My wife and I planned our income on minimum wage over 20 years ago. If either of us loose our jobs, we can still make it on minimum wage. Of course, there will be no new tractors and trips to Vegas, but we will still eat well and have a roof over our heads. Although, with the energy situation, we would switch to wood heat instead of gas. We may do that in the next year anyway. Seems that natural gas is getting to be not such a bargain compared to a few years back. /forums/images/graemlins/crazy.gif