/debt/ general

/debt/ general

How much debt you got?
Do you owe any collection agencies money?
What’s the most efficient way to obtain debt?
What’s the best kind of debt to acquire?

0, I'm european

>How much debt you got?
About $ 550,000.00

>Do you owe any collection agencies money?
Nope.

>What’s the most efficient way to obtain debt?
Using an asset as a security in the event of a debt default. Lowest loan rates.

>What’s the best kind of debt to acquire?
The ones with the lowest rates, e.g. securities. You put down an asset, lend on it. Loan is 4%. You can have an agreement in place where only the interest on the loan is paid off, and the capital isn't. So much more cheaper. All you do is renew the loan.

>How do you keep up the payments?
My assets are valued at $ 1.2 million, so they could easily be sold to pay the loans off. I don't bother though, as it's business assets

I work 12 hrs a week btw and make $ 7,500.00 a month.

wow 55.5000 what a fuck idiot

21k from college, but I got a nice job and have no problems making good sized payments into it and savings/investments.
Lifes pretty nice user.
Went to community college for 2 years, then finished at a 4 year instate uni. Saved so much fucking dough, and honestly some of the community college professors were outright better than many at the university. Those ones seemed to just be doing it for extra money/passion tho

How much debt you got?
nothing
Do you owe any collection agencies money?
no
What’s the most efficient way to obtain debt?
are you retarded
What’s the best kind of debt to acquire?
school loan

I have ~$1,000 of credit card debt that I'll pay off at the end of this statement before interest starts accruing. I use my CC for every purchase because I enjoy the cash back.

I also have ~$15,000 of student debt at 0% interest that I pay the minimum, $200 per month. I started with $50,000 of student debt with interest that Ive already paid off.

0, I avoided all the life memes

7k left on my car loan, 21k in student loans
hopefully this crypto meme can get me clear of this. looking good so far

> what a fuck idiot.

No, not really. You'll find a lot companies have business debt of somekind. You really should do your homework, son.

My loans are all offset against business assets anyway, which are more than double the value loans, plus the income from employment as well.

The loans are all really well managed and I have business lenders queuing up with rates of 1.6% - 2.85%. I just re-invest the loan money at get 8% - 10% return. I cream the profit.

You really don't have a clue, do you?

Assets - $564,237.13
Debts - $270,926.04

Total - $293,311.09

70k debt from school. never worked

nice

$25000 truck loan
$2000 for court fees for DWI
$1000 IRS
$5800 personal loans
Grand total: $33,800

I'm about 55k in debt with 170k in asset

>tfw debt free

I had this for a good 2.5 years before I got my only debts (mortgage on home, mortgage on rental).

Real estate is worth it but the barrier to entry is fucked up because of boomers.

tfw 20 year old with 300k in crypto and zero debt
comfy

why does always hide their country by saying "european"? pretty sure the policy/culture/value are not the same every where. There is vast difference between East and west, north and south.

Zero. Own my own house and only pay $300 a month in utilities. All luck.

hes using debt the right way you fool.

this is how every single enterprise in the world works.

debt isn't just for your retail expenditures on your credit card or your car loan.

LARP

Most retards accumulate bad debts.

Smart people accumulate sensible debts that give constant payoff and income streams.

It's why companies take out loans to buy other companies.

You're just an idiot if you don't know how to leverage debt.

inheritance or coin?

if you're in debt you have no business trading cryptos. Oweing someone money is a serious thing that can fuck your life up it's not a joke. I refuse to go into debt for any reason.

Multiple inheritances. Crypto is just a hobby now that I pretty much have everything I need.

I can't think of a single time in my life I've been in debt.
And considering how crypto is going, I may well never be

I bet you're a virgin

Stay small then.

Amazon did the opposite of your small time strategy and became massive.

A vast majority of companies and rich people leverage debt to expand their income streams.

Trying to play the game without debt is literally giving yourself a handicap for no reason. Just never take out debt that doesn't benefit you or you can't get rid of easily.

i owe my state 10k € in child support that i can pay back in rates without interest at 50€ a month

nothing else

am i ameripoor level?

No debt.
No money owed.
Why do you want to obtain debt and what kind of debt? Some debt is good, and you know this. But easiest way is probably just with credit cards and manufactured spending.

Acquire debt with low interest for things like collateral loans and rent out real estate so people owe you money.

Why? Because I don't want muh lambo? Women don't care about that shit. Trust me.

give it another 10-15 years and they should start selling en masse to pay for extraordinary nursing costs. They'll be able to keep their homes in their 60s and early 70s but then more and more won't be able to continue living by themselves and will need more and more intensive care.

Though a huge fraction of the workforce aging out will also mess up the economy pretty bad too, just make sure you're positioned for this downturn though, it could be a long one. Not a big bubble pop but it'll be an era of even slower or stagnant growth.

ty

kek kill yourself

80k student debt

weighing maxing out 150k in credit lines and gtfo the country, marrying a qt, and secretly putting all the money in her name and then i can get new passport in the country where she lives

I completely agree, it's already stagnating all over. I think the real estate market doesn't have much more growth left in it. Getting rent is still a good plan in a lot of areas but property values aren't going up at all so anyone trying to get equity gains in real estate is not making the right play.

I got lucky to get in before the last spike we had. My condo I bought last year @ $246k in Boston, MA has a valuation of $308k now. I think it will cap around $325-350k for several years, possibly 5-10 or even longer after that. Hardly anyone can afford 600 sqft condos that cost 300k.

My rental property is worth ~$100k and is bringing in $800/mo (mortgage is $500/mo). Basically just slowly milking that one, don't care about equity really.

I just want income streams.

300k for a condo?
holy shit nigger, just wondering, howcome you prefer that to like a 3k sq ft house 20 miles away?

About $50k in student loans. Didn't even need it. Already get government grants.
Been dumping loan money into BTC since 2013. The government basically gives away free money at 5% interest.

Assets - 33k (5kusd, 20kcrypto, 8k misc.)
Debts - 0$
>used car
>paid off school
>takes care of mother at home

Total - 33k

I have a 10 minute drive to work and I'm in driving distance to all my friends who work in the area. I'll rent this shit out once I'm done with it for $1500-$2k/mo and use that to cover the mortgage while I get a nice place in the burbs. Definitely don't want to live in a condo forever.

What the actual fuck? This is Veeky Forums why the hell are any of you guys in debt? How can I take any advice from here when you are clearly Jew lovers?

Talking about debt, for student loans (0% interest) is it better to just pay the minimum amount and invest the money saved, or to pay them all off quickly to improve your credit?

debt is not inherently bad you master baiter

>he doesn't even leverage debt to make 3x returns on cryptocurreny

It's like you don't even like free money

>How much debt you got?
None. Thanks rich parents for paying for undergrad and me being super stingy with my money meaning I can pay for more school on my own

this, like wtf, if you have a stable income you can easily leverage debt for more possible returns. youre already here, might as well go big. obviously within reason, not just some stupid yolo shit. for example i took out a loan 80% x 24 my disposable income. i can live with going monk mode for the opportunity of a lifetime. if it crashes, it crashes.

250-300K in student loans

after reading the whole thread the shit im doing is small time even. prolly has to do with my small income in the first place. leveraging debt is like the most sensible shit i thought, basically have to out do interest rates for your roi. of course thats easier said than done but i never understood retards who talk about debt like it's the worst thing ever. yeah maybe if you buy stupid shit with it

0, I joined the military