Likewise,
taking on bad debt can sometimes help you in other ways — most people need cars to get around.
Insolvent homeowners in Europe face a lifetime of literal debt peonage to make the banks (even foreign banks, which dominate Central Europe's post-Soviet economies)
whole on their bad debts as the continent's real estate prices are plunging even more steeply than those in the United States — some 70 percent in Iceland and Latvia.
How to spot bubbles, and why our world is so messed up from an unwillingness to takes
losses on bad debts.
Use the equity you already have in your home to lower interest
payments on bad debts, reduce payees, or pay for home renovations.
If you are taking money from one source to pay another, barely keeping up with your minimum payments or are
relying on bad debt options like payday loans, it's time to... Read more
I used their services for credit repair from medical debt and I have friends who have totally erased the bad student loan debt because collections agency have broken the laws surrounding the proper ways to
collect on bad debt.
Even if you are borrowing to invest in a house or an RRSP, if you can't afford the payments you have
taken on bad debt.
If you're borrowing to buy clothing, vacations, cars, electronics — anything that starts losing value as soon as you buy it — you're taking
on bad debt.
I definitely agree with jimma, credit cards and loans can really put
you on bad debt.