Personal Debt-Information On Average Personal Debt, Personal Debt Consolidation Loan, Personal Debt Consolidation

C Alliss asked:


BY IRRESPONSIBLE GOVERNMENTS AND IRRESPONSIBLE PEOPLES BEHAVIOR …? IN THE END ISN”T THAT SOCIALISM..? MY WELFARE DEPENDS ON YOUR BEHAVIOR AND YOUR’S ON MINE..?

Lupe Siniscalchi

Michael Trenkle asked:


If you have personal credit cards and only make minimum payments, the debt will never decrease and may go up. If you had a history of only minimum payments, could you expect an increase in your debt limit? Andrew Jackson was the last U.S. President who paid-off the National Debt.
When they make debt payments by issuing more Treasury Bonds, they are paying debt with more debt, which only spirals upwards.
That is the same as using your Visa to pay your Mastercard.

Julietta Carbal

falisrm asked:


So america is in debt to what $9 trillion. So is that just government spending? So in reality we just have our own personal and/or company debt and other then that we are creating $14 trillion a year in the economy.

So basically if we just get rid of the government and/or their stupid spending, we would be flipping rich with a $14 tril economy. Plus we would keep $3 tril of it because our government takes that much from us.

Does this include the trading deficit

Is this accurate at all?

Leonel Ullrich

Sarika asked:


A Chicago Sun Times article states that the Obama’s were deep in debt and about to face foreclosure until Michelle miraculously landed a job At a Chicago Hospital as a well over paid administrator .

Morton Perko

ranosonar asked:


I know the US national debt is divided into public and government, government is just that and public is not as clear since it means both individuals with debt (like student loans etc…) and organizations and companies with debt. I wanted to know what the citizens of America actually own in the 14,000,000,000,000+ dollars, excluding the companies, corporations, and government.
The hard part seems to be separating citizen debt from various corporations in debt, but I’m sure I’m not the only one who wants to know what others are trying to pin on the public in general (i.e. the citizens have to pay for the debt from companies they have nothing to do with).
One more thing, does anyone else agree that if the citizen debt is made a new category, shouldn’t the citizens be responsible for paying back their debt, and only their debt? This would of course mean people with their hand in company debt (i.e. CEO’s that bankrupted their companies etc…) have to pay for their mistakes in said company/corporation as if it were their personal debt (since it is).
I also found it interesting that the debt per person is not equal in all states (in SC for example, they only owe about 8,000 each vs 15,000 in NY). This does not, however, include the division of public into citizen and corporate, it is still all public and all govt. in said state divided by its citizens.
Oh, and sorry for the long post too.

Kerry

Christa asked:


I’m used to spending whatever I want for whatever I wish. I’ve racked up over $400,000 in debt living this way.
My father told me to downsize my lifestyle, get a second job, practice being frugal, consolidate my debts and get a low fixed interest rate, and make paying off my debt my first priority.

I don’t think that’s the smartest way to solve my problem. I’m thinking the smartest way to go would be if I take out a large loan from the Chinese, Italian and the Jewish mafia, and use that money to continue to live the way I have been living. I think the best way to avoid financial collapse and poverty is to run up more debt with the shadiest sharks around, and spend more. By the time those loans are called in I’m pretty confident that by then I will be the next Bill Gates raking in billions off some invention I haven’t thought up yet.

Who is right about the best method to avoid personal financial collapse and poverty, me or my dad? I’m at a crossroads here.

Micah Gucciardi

BOBO asked:


You can find out if you take the time to review the link below. The humorous part is YOU gotta pay it back with INTEREST! Like is the American taxpayer getting phuked or what? If you can afford to quit working after you die the remainder of YOUR personal debt is passed on to your own kids… like what a super deal while your kids squeal!
Whadda ya think of the fed reserve debt based so called economy now???

http://www.usdebtclock.org/

Mervin Kribs

lazlo_dei asked:


First look at this chart:

http://zfacts.com/p/318.html

The line is Debt/GDP (in percent). Currently, the debt is about $11. trillion, and the GDP is about $14.5 trillion. Thus, the US Debt is about 80% of the US GDP.

Imagine that a househould makes $145,000 and has $115,000 in debt (like say a mortgage and some credit cards). Is this person in horrible debt? No…it’s not bad at all.

For example, a household that makes $75,000/year with a mortgage of $125,000 has a debt to income ratio of 160% (TWICE as much as the US debt/gdp ratio)…but since the monthly income is about $5000 (after taxes…which the US doesn’t have to pay) and the monthly mortgage payment is only $1000, the household is doing quite well.

Let’s move on to the credit market debt. Some people are afraid of that the total credit market debt (combined government, corporate and personal debt) is now an all-time record of over 350% of GDP (as of Q4 2008).

Imagine, a household with $100,000 in annual income and has a $350,000 mortgage.

This would equate to a debt to income ratio of 350%.

Question then: Is this household in trouble given that they have a $100,000 annual income and a $350,000 mortgage with no other debt?

I would suggest that most people would say that this household is fine. If so, then why is the US debt/gdp ratio such a big issue?

Further, there are many people who are calling out the statitics that the US government are using. They (and I) claim that the US gov is using fear-mongering techniques to justify the nationalization of the car and banking industries, of stealing from our 401Ks, etc.

Up until the 1970′s (where Carter had the lowest debt/GDP ratio), the US government used to use an aggregate debt/GDP chart as its litmus test. This chart/report added together household debt and corporate debt, both financial and non-financial. You cannot find such an aggregate chart ANYWHERE on the internet…oh, plenty have been put on the internet, but all mysteriously have broken links to the chart. For example, http://www.businessinsider.com/2009/2/us-debt-levels-are-fine-debt-to-gdp-chart-is-wrong-and-meaningless.
The GDP increases as fast or faster than the debt.

A unsecured loan puts the risk on the lender (which ain’t us). If the lenders called the White House and demanded money their money immediately, we would just laugh at them. We are the 800-pound gorillia who has borrowed bananas from baboons…what is the baboon gonna do? We have the biggest military, we have the productive workforce, we have the great infrastructure. We are the ones with the superior negotiation advantage.

But all this talk about credit card debt versus mortgage debt does bring up an interesting question: how much does the US pay back per month? What is the interest rate? Is it all T-bills?

Turd Ferguson: I am a big Dave Ramsey fan, but I seriously doubt the US monthly debt ‘payment’ is more than 25% of the US monthly GDP ‘income’ ($1.2 trillion).

If anyone can tell us how much the US ‘pays’ back on its debt per month, that would be great.

Daisey Weisgerber

stephen s asked:


Gee how do some people manage to escape the hardships that befall other people when economic times get tough.

My condolences to the 10%+ of my fellow Americans who would like to be working but can’t find employment.

To any slackers who have been taught to believe that they are entitled to programs paid for by money confiscated from other people, when you feel hungry “GO **** AN EGG”
How’s that Hope And Change working out for you after year 1.

Florene Lopardo

jivejiggaboo asked:


I really need to know where on the web can I apply for a personal government grant with absolutely no fees to pay to recieve a grant with not having to pay it back. A grant where I can pay off my debt and help underprivileged children and senior citizens. Please anyone has ever recieved a grant like this please let me know.

Jane Boulette