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Debt Destroy

What is the most common type of debt?


Paris Rep Points: 135
Posted on November 6, 2007 at 2:29 pm
I have to vote for credit card debt. It's very easy to get into and hard to get out!

dovic1 Rep Points: 510
Posted on November 6, 2007 at 2:29 pm
I think credit card debt also. Credit cards are so easy to accumlate. One may start out with a $500.00 limit, next thing you know they take it up to $5000.00.

trixie Rep Points: 185
Posted on November 6, 2007 at 2:29 pm
I think credit card debt because lots of people now depends on it. I haven't got one because I don't want to be stressed out with the bills though it depends on how I use it. And I guess I am right not to get one.

Carlo Rep Points: 1,455
moderator
Posted on November 6, 2007 at 2:29 pm
I think credit cards are the most common. Loosing a job or medical expenses are usually what push someone into bankruptcy though.

cgirl Rep Points: 150
Posted on November 6, 2007 at 2:29 pm
Credit Card debt is the most common debts for rich and poor people. Coz credit card are widely accepted to anything and anywhere we wanted to spend and use the credit cards.

jaobedoza Rep Points: 220
Posted on November 6, 2007 at 2:29 pm
from my experience, its credit card debt. the temptation for instant gratification is too great

synthia Rep Points: 505
Posted on November 6, 2007 at 2:29 pm
I agree. Credit card debt is the most common, and the worst kind. It sneaks up on you, it grows, and if you are a day late making a payment, not only do you get charged a fee, but the company will use that as a reason to increase your interest rate.

lm987 Rep Points: 185
Posted on November 6, 2007 at 2:29 pm
quite right. the credit card is most common. if you are addict into useing it ,it seems you dig a hole which you can't get out of .

squirrel Rep Points: 400
Posted on November 6, 2007 at 2:29 pm
[QUOTE=chum112;509]Is the most common type of debt, cause by capital instabilities or other money disasters?[/QUOTE] If you have vices, you expect to incur debts. These vices can force you to use your credit cards.

lucky Rep Points: 250
Posted on November 6, 2007 at 2:29 pm
I agree its usually your cards' bills and those usual small borrowings.
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