How much debt do you have? - GM Forum - Buick, Cadillac, Chev, Olds, GMC & Pontiac chat


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View Poll Results: How much money do you owe in your life?
$0 -- I have EVERYTHING including car, credit card, etc PAID OFF 15 26.79%
$1-$500 debt -- I have modest debt but nothing serious 7 12.50%
$500-$2000 -- I have minimal debt by todays standards but owe a good chunk 3 5.36%
$2000-$4000 -- I have a good amount of debt to pay off 7 12.50%
$4000-$8000 -- I have the "normal" U.S. national average in regards to overall debt 3 5.36%
$8000-$14000 -- I have a little larger than normal debt load 6 10.71%
$15,000-$25,000 -- I have a fairly high amount of debt that needs to be paid off 7 12.50%
$25,000+ -- I'm f**ked for life 4 7.14%
$25,000+ -- I make at least $50,000 a year so paying this off is no biggie 4 7.14%
Voters: 56. You may not vote on this poll

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Old 04-16-2008, 12:50 AM   #1
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Default How much debt do you have?

Excluding your house if you own one.

I'm talking anything debt wise except a mortgage.

- Medical Bills
- Credit Card Bills
- Collection Agency Bills
- Car Loan (what you owe)
- School Loan Payment
- etc
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Old 04-16-2008, 12:51 AM   #2
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Yeah I am Fooked :P
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Old 04-16-2008, 12:52 AM   #3
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I am very thankful that I was able to pay for all of my college tuition and fees out of pocket while I was attending to get my associates degree. That being said, my only debt right now is the Cadillac and I owe $15,800 on it. I really can't complain because it'* the ONLY debt I have currently.

EDIT: I think your poll is off. Average debt is way higher than that! I've heard statistics stating that the average debt for credit cards alone in the USA is $10,000. Combined debt is way higher than 10,000 average, that I know for a fact.

EDIT 2: Not to be a pain but here'* some reading for everyone.
http://moneycentral.msn.com/content/...ebt/P70581.asp

Quote:
Consumers owe nearly $2 trillion
American consumers owed a grand total of $1.9773 trillion in October 2003, according to the latest statistics on consumer credit from the Federal Reserve. Thats about $18,654 per household, a figure that doesnt include mortgage debt. The number is up more than 41% from the $1.3999 trillion consumers owed in 1998.
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Old 04-16-2008, 12:52 AM   #4
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ive got just the loan for my blazer.
No credit cards here...
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Old 04-16-2008, 01:05 AM   #5
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4300 - student loans
11000 - 2 cars
9500 - credit card

yeah it sucks :(
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Old 04-16-2008, 01:15 AM   #6
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I'm between 10 and 15 just on the remainder of my car... I don't consider that high AT ALL... Most new car loans are over 20k with the avg (read: small) down payments most ppl put down. I did 5k down on a 21k + interest vehicle. There'* money stashed away where I could pay it off, but I would be severely hurting a future house down payment, and/or retirement stuff i've got going, so I consider that money GONE for now.

My credit cards aren't used to float anything really. I might put a new bike on my big one for a month or two, but nothing major either way..

Both of these are because I don't ever stretch myself financially for something, could I have gone bigger, faster, etc in a car? Sure, but is getting an STI or Solstice GXP worth eating Ramen, living in a cheaper apt, no renters insurance, no new toys, etc? No... I'll "deal" with my GTI @ 325/mo and live comfortably otherwise..

Because turbo'* and DSG trannies are so hard to deal with...
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Old 04-16-2008, 01:16 AM   #7
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no debt here untill fall and student loans
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Old 04-16-2008, 01:19 AM   #8
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7 years of college down, one to go... With $80K in loans so far... and a car payment.
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Old 04-16-2008, 01:25 AM   #9
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Avalanche, started with $26,000 loan, current balance is about 23 and change.

Bonneville was roughly $3,000 in cash, so its not weighing anyone down.
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Old 04-16-2008, 01:37 AM   #10
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Blech, this has really been on my mind lately, too...

about 6500 on the car
1000 with credit cards
I think that'* it

gah...
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