1.Click anywhere in the box below & press Control A to select all.According to the link below, it looks like the US currently has 130% *personal* “debt to equity” ratio:
…if an average family spent all of its income paying its debts starting right now, not leaving a penny for anything else — not food, clothes, birthday parties, grass seed, pedicures, nothing — it would take that family 1.3 years, about 16 months, to pay off its debt…
Yikes!
http://blogs.harvardbusiness.org/hbr/hbreditors/2009/05/no_payments_and_no_interest_un.html
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4 Comments
THAT is really discouraging and a bit depressing. I would had to give up my disposable income for 16 months to pay off debt. :/
Don’t worry, in France it’s the same. Maybe worst…
NO Bankruptcy…..Just Free ….all are free…..Free Cards. E cards, greeting cards, birthday cards…..
Yes this is a bit discouraging, just hope we can get pass through this rough time.
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