How Low Can You Go?
I was putting together a personal financial statement for a bank and I realized I have over $1.8 million of debt against my credit. [I've partnered with investors on some deals, so there's actually another $800,000 that I've agreed to share 50% of the burden without it being on my credit]. On top of that I have open credit card balances worth nearly 100k.
Competition time?? My debtload’s bigger than your debtload! [Of you need a positive networth to qualify].
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The End Of Credit? Yesterday I got a call from American Express. I was curtly informed that my True Earnings American Express Cash Rebate Credit Card limit was reduced 90%. It isn't a really big deal because I don't need that sort of limit. I've never used more than 40% of the limit anyway....... - The 35th Carnival Of Money Stories Welcome to the 35th edition of the Carnival of Money Stories. This edition is pretty big with 50 entries, so pour yourself an extra-large cup of hot cocoa and sit down for some serious reading. Debt Reggie presents Why Money is Debt - Part 1 posted at Reggie, the black......
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February 24th, 2006 at 6:00 am
Holy Moly! You have a much stronger stomach than I do! I just don’t know if I could psychologically handle that much debt. When it comes to debt I am a conservative wimp – so you win hands down with me
February 24th, 2006 at 7:25 am
Right now, i’m at $2,575,000 worth of debt in 5 different properties.
-SLO Money
February 24th, 2006 at 12:33 pm
Whoa! That’s a lot of debt. I wouldn’t consider it to be bad debt, though.
You take risks than the average PFBlogger. That’s entertainment.
February 24th, 2006 at 4:07 pm
funny, I thought I was the worst. One property(manhattan) owe 980k on primary mortgage, 295k on second. 2005 C4S with some customization 105k, sisters 2005 Tahoe, dads Toureg and tractor(best gift ever) combine for 110k and a combined 200k in CC’s. As far as the net worth…I would say somewhere between -50 to +50k, depending on what day of the month. Did i mention I got the g/f a Cherokee for Valentines day(lease)!
February 24th, 2006 at 5:41 pm
ahem, primary residences don’t count.
mainly because I don’t own one and coz I get to frame the rules.
hmm…if its a real competition, do I have to give away a prize?
February 24th, 2006 at 7:07 pm
mmm 0 hahahah