Scott
Member
Registered: 11th Mar 01
Location: Kilmarnock,Scotland
User status: Offline
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so wot if u goto the bank take out a 10k loan for a car which u need to get to ur work ? is that classed as debt ?
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M2RTY
Member
Registered: 25th May 01
User status: Offline
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quote:
Originally posted by barry_kellett99
quote:
Originally posted by Scott
quote:
Originally posted by barry_kellett99
HAHAHAHA Student loans are not counted as debt. ffs I took out about £10.5K and i pay back £36 a month, but i am only earning £14k
I wish i had have invested mine instead of spending it on kinder suprises
Its laon , its you have borrowed, you have to pay it back , therefore its debt
It isnt debt.
It isnt taken into consideration when you go for a LOAN, or a mortgage so therefore it isnt debt. It doesnt affect your credit rating in anyway and i know this for a fact because I had difficulty getting a credit card recently, because i HAD NO CREDIT rating!
correct, VERY good point barry
if it was debt, explain how university graduates will get a hell of a lot more out of a bank then some1 in the same amount of debt who hasnt gone to uni. banks will be throwing money at them for setting up businesses etc becuase they know they are less risk to pay it back
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Thoday
Member
Registered: 12th Jan 03
Location: Drove kitted corsa b now standard corcs c exclusiv
User status: Offline
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£11k but thats where my car came from!
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M2RTY
Member
Registered: 25th May 01
User status: Offline
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quote:
Originally posted by Scott
so wot if u goto the bank take out a 10k loan for a car which u need to get to ur work ? is that classed as debt ?
taking a loan out for a 10k car IMO is a loan, nothing more. if you can repay it then its ok, your not in any trouble.
if u can not repay it, u get into debt, and you get a bad credit rating
taking out a 100k mortgage for a house is not debt, its a way of being able to afford a house.
if u could afford 10k for a car, buy a 300 quid banger
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