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Re: Society of debt

Posted by miranda on November 28, 2001 at 14:07:33:

In Reply to: Re: Society of debt posted by Megan on November 27, 2001 at 17:13:44:

: There is such a thing as good debt. If one has the cash to buy a car, but instead gets a loan and uses the money for investments or education this, in the banking world, is a good debt. But I don't think this is what Cindy was talking about.

I don't know if it should be considered good debt. It's good in the sense that it builds up credit so that you can take out bigger loans later and get credit cards with bigger limits, but in turn that just perpetuates the cycle of debt. I don't know if any debt is necessarily good.

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: : There is such a thing as good debt. If one has the cash to buy a car, but instead gets a loan and uses the money for investments or education this, in the banking world, is a good debt. But I don't think this is what Cindy was talking about. : I don't know if it should be considered good debt. It's good in the sense that it builds up credit so that you can take out bigger loans later and get credit cards with bigger limits, but in turn that just perpetuates the cycle of debt. I don't know if any debt is necessarily good.

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