09-05-2022, 03:56 PM
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I have zero debt, what about you?
09-05-2022, 03:59 PM
You have zero does not mean ur 'money' or currencies are not a result of debts.
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09-05-2022, 04:40 PM
Zero also. No car no house no job no bills.
09-05-2022, 04:54 PM
09-05-2022, 05:01 PM
09-05-2022, 05:03 PM
09-05-2022, 05:49 PM
![[+]](https://sgtalk.net/images/bootbb/collapse_collapsed.png)
![[Image: 88-ABAFD3-5-B0-F-48-DA-9-A11-DB0-C7-CBB559-B.jpg]](https://i.ibb.co/gMj9HWj/88-ABAFD3-5-B0-F-48-DA-9-A11-DB0-C7-CBB559-B.jpg)
![[Image: 6-D202-CC5-906-B-4-EC5-B9-E2-5-DF63-F89-EC98.jpg]](https://i.ibb.co/tqzRK27/6-D202-CC5-906-B-4-EC5-B9-E2-5-DF63-F89-EC98.jpg)
09-05-2022, 06:21 PM
Although i have net negative assets, the banks still ask me to take up more debts.
09-05-2022, 06:23 PM
My debts are generating net income of $25,000 for me every month...provided I do not pay them off , it will just continue doing that until I decide to close the debts.
09-05-2022, 06:24 PM
If one day I pay off these debts, my income will be gone...these are mortgagees and the income is rental income.
09-05-2022, 06:26 PM
Except for one property which will give me a positive payout when closing the mortgage..the rest all give zero balances at current market price.
09-05-2022, 06:29 PM
One bank had offered to take all my debts at a cheaper rate if i switch to them and offer me a fresh new one for a GCB...but i rejected.
09-05-2022, 06:30 PM
Because if i combine all the risks into one, it is very dangerous.
09-05-2022, 06:31 PM
U still need your debt to generate an income to combat inflation no matter what.
09-05-2022, 06:33 PM
Very lucky i was not greedy with the offer...because MAS yesterday just give one tight slap to GCB.
![[Image: F85-E0-A98-4-AB9-4123-A8-AB-0876-ABF734-D7.jpg]](https://i.ibb.co/NFLqrrP/F85-E0-A98-4-AB9-4123-A8-AB-0876-ABF734-D7.jpg)
09-05-2022, 07:55 PM
If you don't owe credit cards bills
No weapons that forms against me shall prosper
No tongue that rises against me I shall condemn
☝️
09-05-2022, 08:07 PM
Zero debt only mean you have no one chasing up your ass for something, that's all..
For those who had debts, if you belong to you worried banks will recall your loan, then you are a potential sucker in future with raising rates.
If you belong to banks worried you will pay off your loan, then good for you.. You had borrow enough until even if raising rates makes you a bankrupt, it is still worth it based on the amount you owe.
For those who had debts, if you belong to you worried banks will recall your loan, then you are a potential sucker in future with raising rates.
If you belong to banks worried you will pay off your loan, then good for you.. You had borrow enough until even if raising rates makes you a bankrupt, it is still worth it based on the amount you owe.
1. I have served the nation in a combat unit for 2.5 + 10 years. I had fulfilled my duty as a citizen, but has the country do it's part for me?
2. I don't know where the threat of CCP is, but I know the threat of CECA is already at my doorsteps
3. I had been called a CCP, JHK, Pinoy, but they never called me a CECA..
09-05-2022, 08:48 PM
(09-05-2022, 08:07 PM)ArielCasper Wrote: Zero debt only mean you have no one chasing up your ass for something, that's all..
For those who had debts, if you belong to you worried banks will recall your loan, then you are a potential sucker in future with raising rates.
If you belong to banks worried you will pay off your loan, then good for you.. You had borrow enough until even if raising rates makes you a bankrupt, it is still worth it based on the amount you owe.
For home loan, you are paying all the interests during early years, if interest rates go up 2-3%, you can’t afford, you are forced to sell your properties by the banks…you thought you have already paid bog portion of your loan for the past 5-10 years, actually your money mostly went to interests of your loan.
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09-05-2022, 08:52 PM
(09-05-2022, 08:48 PM)lvlrsSTI Wrote: For home loan, you are paying all the interests during early years, if interest rates go up 2-3%, you can’t afford, you are forced to sell your properties by the banks…you thought you have already paid bog portion of your loan for the past 5-10 years, actually your money mostly went to interests of your loan.
It’s no good to owe bank money and pay interest for 30 years, better pay off your loan ASAP, so that you won’t pay too much interest to the bloody bank.
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