how do Americans live like this? Imagine getting your paycheck at the end of the month and thinking '"oh half of that I just need to send to pay off my debt"
you hit the send button and half of your money is completely gone
people are literally so poor they can't afford a god damn laptop, they take loans for that shit, make payment plans. I literally just received a 2000$ laptop from Dell, and paid it with my own money.
I am so glad I live in a country like Denmark, the quality of life here is just so high it's unbelievable how fucked up the rest of the world is
I know right, and they have their own people living in hoods etc
Imagine living in a place where taking a wrong turn can get you killed
Jesus Christ
Noah Moore
Well sometimes you have a family, you don’t want your kids being raised in niggerville so you buy a home a little outside of your comfort level.
These days you have to pay a premium to be left alone among your kind. Mostly white high trust working class community’s don’t exist anymore.
Colton Taylor
I have $100,000 in credit debt between a home equity line of credit and credit cards... the cards are high interest rates between %12 and %25
I can afford to pay only the minimums and so have no expectation of ever getting out from under it... most of the debt arises from repairing business equipment ( my car) but its on personal accounts. I took out the lines at lower rates but the banks did what (((banks))) do and raised my rates though I never violated any terms.
Austin Turner
Can you imagine having scandinavian tax rates?
Imagine getting your paycheck and the government says "oh 60% of that is ours" and its completely gone.
Wyatt Butler
Danskere er det mest forgældede folkefærd XD
Bentley Wood
>oh half of that I just need to send to pay off my debt yeah while here you just need to send half to pay your taxes. That is if you are a poor faggot or else its more
Brandon Mitchell
Your credit score is also your monetary property. Which can be easily better than other property as they are usable than money sleeping in your 401k or shit. not using it is actually a big shame when you consider real life investments goes quite well when you do it right
Levi Powell
I am sorry to hear this... I don't know what to recommend, how do people usually deal with this kind of debt?
I see your point, but I just find it very hard to understand how someone in their early 20s can have a 5 figure debt. You just started your life and are already fucked. That's depressing to me.
the taxes are used to ensure the high quality of life that we receive here in Denmark. This is not really the case with debt. People literally take loans for example, go study at a college and then drop out with a 5 figure debt. This is not as uncommon as you think. With taxes however, we have a trust that our government will use the money to make life better for everyone here in Denmark. We have very low corruption rates.
Isaiah Parker
So debt for housing is ok since for the most part it is an appreciating asset and you have to live somewhere. In every part of the world people can be bad with credit. Here in the US some don't have debt. I for one just paid off my house and am debt free and I have a high quality of life. So its not where you live, but how you live in it.
Isaac Perry
Form a corp. Transfer assets. Give it time. Few years. Find someone you trust to hold that shit in your name, make sure you can trust them to hold it for a few years, legally. File for bankruptcy, hopefully you're in a debtor friendly state where your primary residence and primary transportation are not included in settlement. Debt settled. Retrieve assets several months later. Ensure friend is rewarded. Debt free.
Mason Jones
It's about 35%, but everything contains also taxes in there prices so you end up paying taxes multiple times. Although we get healthcare, education and such basic with those taxes, but I concur that taxes are too high
Cooper Adams
Well that's the thing about America. 5 figures is not a lot of money. People can come up with that given some due diligence in various investments or side income. Land of opportunity and all.
Nathan Hall
also I'm Finn enjoying Mediterranean warm in Malaga, so this post concerned finland not Spain.
Isaiah Diaz
Mighty White of you, fren... I'll check it out.
Lincoln Howard
Had 42k in debt and paid it all off. Have 20k saved and a 800+ credit score. It is literally retarded to carry a lot of debt and unnecessary.
Jason Lewis
Danemark is 50% muslim. Enjoy your no debt state jewboy.
Mason Smith
The only debt i can ever understand is taking a loan to buy a house or a car, everything else is just stupid to me. Especially credit cards, i don't understand how mentally challenged someone has to be to use a credit card instead of a debit card.
Owen Perry
credit cards are setup with all kinds of good goy points (offset by fees and interest), so dumb people build up some imaginary money so they can buy a toaster after four years of gathering points.
Mason Butler
I am just working (self employed) as much as I can. I just make the monthly payments at the minimum to keep from defaulting as I really do need credit to be able to repair my equipment in order to keep working. Its just leaving me with nothing left over and I am reaching the limits of my credit lines.. I can really only ask the credit banks to lower the rates... for instance on one card I opened it at 7.9%.. in 2008 when the financial markets melted down they raised it more than double to %16.9.. it had around $25,000 on it at the time. I would never have opened the account with that rate. I was offered the option of closing the line to keep the rate but I needed the credit for my business and it was very hard to get new credit at that time.
Since then the balance has grown partly due to the interest and some further borrowing. The rate has come down to %14.9 but with the balance near $35,000 the interest compounding is killing my gains. I know I was remiss in not setting up a business long ago and just running this in my name. I am technically bankrupt because no matter how much I earn at this self employment (last year I grossed $40,000) I can't pay more than the minimums while paying all other expenses like food, gasoline, property tax and a condo fee..
Declaring bankruptcy though seems unhelpful if I would lose all access to credit since my occupation requires occasional urgent mechanical equipment repair to remain viable.. doesn't help that I turned 56 recently... time sure does fly.
Lincoln Turner
Make sure you speak to your lawyer. Make it hypothetical and educational context, and NOT legal advice. This is also not legal advice. This is merely banter on a mongorian basket weaving folum.
Alexander Long
Use your card on things you have money for. Get that 2% rewards. It's not a lot, but if you're smart about it that's free money. $10k in consumer purchases over a year that you were gonna have to get anyway, that's $200 for nothing.
