How deep in debt are you!?

[shmike]

Originally Posted by Rider

The amount of debt is relative to:

A)The amount of credit you have vs the amount of credit you use

B)Your income.


I know people that have over $100K in car loans. They also make over $250K/year.

There are also people that have a $10K car loan that are making under 20k/year. The amount of debt is not important. The important number is your income to debt ratio.

Debt to income is all well and good until that income dries up.

A better indicator is debt to asset ratio.

I know quite a few people that were making big money ($500k+) during the "boom days" of real estate.

They could easily afford the fancy cars, boats and houses they had....

...until they were out of a job.

[t-homo]

Originally Posted by zlicius

not fair, my student loans screw me in this poll, otherwise it'd be pretty decent. LOL

same here. I have about 12k in student loans (and quickly rising) and just over a grand of other credit.

[N2O Junkie]

my student loans after graduation were over 60k. I pay about $450 for 20 years... trying to pay it back sooner.

Yes... it should be income to debt ratio... but to keep it simple.. this is what i chose to do for the poll.

[Rider]

Originally Posted by CrazyKell

$550? That's it? I wish!

Are you financing all 4 years?

I had a GI bill to use, I went to CC my first 2 years and a paid cash as I went so no student loans to me. $550 seems like a lot for 10 years but I guess if you have to finance 100% of your schooling I can see it being that much or higher.

[dReWpY]

student loans is near 60k.... yikes!!

other debt is <3k total

not bad considering im still in grad school, own a new buell and my jeep isnt half bad

[pdog]

I have no debt at all beyond a 15 yr mortgage.

My wife decided to get a Ph.D in a field that makes $50k/yr. She has shedloads of debt. Thankfully most of it is Sallie Mae loans at <3% interest. Everything else I've paid off for her since getting married.

[Krabill]

All my vehicles are paid for, but I have a mortgage and just a little over $5k in cc debt. The cc debt is mostly medical bills and will be paid off here shortly.

Medical bills really screw me. I broke my arm a couple months ago and I just had sinus surgery for the 3rd time a few weeks ago.

[N2O Junkie]

Originally Posted by pdog

I have no debt at all beyond a 15 yr mortgage.

My wife decided to get a Ph.D in a field that makes $50k/yr. She has shedloads of debt. Thankfully most of it is Sallie Mae loans at <3% interest. Everything else I've paid off for her since getting married.

what field is that? damn that sucks... ! I think interns make around that at my company !

[CrazyKell]

Originally Posted by pdog

Everything else I've paid off for her since getting married.

Whoa! Where can I find a gig like this?!

I graduated with 50K in student debt. I also went to grad school so I owe more now.

[Sean]

I owe tons of karma...and a couple of mortgages.