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Thread: The Debt If It Were Your Household

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    The Debt If It Were Your Household



    Scary stuff!

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    Re: The Debt If It Were Your Household

    Thats why I don't own a Credit Card.....
    History does not long Entrust the care of Freedom, to the Weak or Timid!!!!! Dwight D. Eisenhower ~

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    Re: The Debt If It Were Your Household

    Quote Originally Posted by Midwest Media Critic View Post
    Thats why I don't own a Credit Card.....
    Yea, imagine if you owned those numbers up above. You would have no choice but to declare bankruptcy. Or rob someone!

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    Re: The Debt If It Were Your Household

    Quote Originally Posted by Conlette View Post
    Quote Originally Posted by Midwest Media Critic View Post
    Thats why I don't own a Credit Card.....
    Yea, imagine if you owned those numbers up above. You would have no choice but to declare bankruptcy. Or rob someone!
    Never have been into the credit card thing. Always paid cash. Except for the House and the car. I figure if I do not have the money then it will just have to wait. Until I do.
    History does not long Entrust the care of Freedom, to the Weak or Timid!!!!! Dwight D. Eisenhower ~

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    Re: The Debt If It Were Your Household

    Quote Originally Posted by Midwest Media Critic View Post
    Quote Originally Posted by Conlette View Post
    Quote Originally Posted by Midwest Media Critic View Post
    Thats why I don't own a Credit Card.....
    Yea, imagine if you owned those numbers up above. You would have no choice but to declare bankruptcy. Or rob someone!
    Never have been into the credit card thing. Always paid cash. Except for the House and the car. I figure if I do not have the money then it will just have to wait. Until I do.
    Used to be you could get good rewards from using your card, cash back and the like, and never pay a dime. But those days are gone along with our AAA rating.

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    Re: The Debt If It Were Your Household

    Quote Originally Posted by Conlette View Post
    Quote Originally Posted by Midwest Media Critic View Post
    Quote Originally Posted by Conlette View Post
    Quote Originally Posted by Midwest Media Critic View Post
    Thats why I don't own a Credit Card.....
    Yea, imagine if you owned those numbers up above. You would have no choice but to declare bankruptcy. Or rob someone!
    Never have been into the credit card thing. Always paid cash. Except for the House and the car. I figure if I do not have the money then it will just have to wait. Until I do.
    Used to be you could get good rewards from using your card, cash back and the like, and never pay a dime. But those days are gone along with our AAA rating.
    Always figured if a man owned his land and property out-right that such was his money in the bank so to speak. If I could I would build a place made out of natural structure. Like a keep or Castle built into some hill or mountain. Even a large Bricked Home could work. Always looking to buy more and extend that property and land outwards.
    History does not long Entrust the care of Freedom, to the Weak or Timid!!!!! Dwight D. Eisenhower ~

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    Re: The Debt If It Were Your Household

    Yes, that would be the way to do it for sure. In the old days you could do that and be safe. These days even if you own your home and land the government can take it from you, or someone can sue you for it.

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    Red face

    Granny says, "Dat's right - dem Christmas bills come due in January...

    Study: Americans Charged $21.9B in Third Quarter, Could End 2016 $80B Deeper in Debt
    December 23, 2016 – Americans racked up $21.9 billion in personal credit card debt during the third quarter this year and are likely to end 2016 with a net $80 billion increase in debt, according to a study by WalletHub.
    At the end of the third quarter, Americans owed $927.1 billion on their credit cards, “almost exactly as much as we did the quarter before the Great Recession,” the study noted. “Outstanding credit card debt is at the highest point since the end of 2008, and Q3 did nothing to divert us from a collision course with the $1 trillion mark,” according to the study, which tracked credit card spending going back to 1985. “The average indebted household’s balance rose to $7,941 in Q3 – just $523 below the tipping point WalletHub identified as being unsustainable,” the study stated.


    Although consumers cut their credit card spending during and after the Great Recession, the latest figures show that they are closing in on the $8,463 average owed on credit cards in the fourth quarter of 2007, which was the highest credit card debt load in the past 30 years. “With 16 of the last 23 quarters reflecting year-over-year regression in consumer performance, it’s clear that we’ve reverted to pre-downturn habits,” the WalletHub study warned. “If charge-off rates begin to rise, things could get ugly fast.” However, credit card debt is only six percent of the total $12.35 trillion debt owed by Americans, according to the New York Federal Reserve Bank’s latest Household Debt and Credit report.


    Other debt includes:

    * Mortgages (68%);
    * Student loans (10%);
    * Auto loans (9%);
    * Home equity revolving lines of credit (4%); and
    * Other (3%).

    “As of September 30, 2016, total household indebtedness was $12.35 trillion, a $63 billion (0.5%) increase from the second quarter of 2016,” the Federal Reserve report stated. “Overall delinquency rates worsened slightly in 2016Q3, reflecting an uptick in early delinquencies. As of September 30, 4.9% of outstanding debt was in some stage of delinquency. Of the $609 billion of debt that is delinquent, $400 billion is seriously delinquent (at least 90 days late or “severely derogatory”).

    http://www.cnsnews.com/news/article/...d-end-2016-80b

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    Quote Originally Posted by Conley View Post


    Scary stuff!
    And unsecured debt at that.

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