Comments on: Getting Into Debt Doesn’t Solve Another Debt

By: Benjie

Benjie — Wed, 21 Apr 2010 03:01:20 +0000

Well, it’s for sure that if you “borrow your way”, the only way your going is down, and deeper into debt. They should really see it as an addition (debt + debt = more debt) and not subtraction.

The only way to get out of it is through this formula (debt – payment = no debt).

By: Joe Plemon

Joe Plemon — Tue, 20 Apr 2010 19:56:16 +0000

I have heard it said that, “You can’t borrow your way out of debt.” The problem with shifting the debt is that people often think they have made headway and they inadvertently go deeper in debt.

By: Benjie

Benjie — Tue, 20 Apr 2010 06:49:36 +0000

And I think the list goes on, next is to rob Philip to pay for Peter. The chain of debt got to stop.

By: Jason @ MyMoneyMinute

Jason @ MyMoneyMinute — Tue, 20 Apr 2010 04:56:42 +0000

Robbing Peter to pay Paul! It will catch up with you after a while. It’s no way to live.

By: Wizard Prang

Wizard Prang — Mon, 19 Apr 2010 13:35:05 +0000

Well if the Federal Government can do it…!

By: The Yakezie Challenge Carnival #8 – Tax Day Edition! | MyMoneyMinute.com

Mon, 19 Apr 2010 08:50:01 +0000

[...] Zordane says Getting Into Debt Doesn’t Solve Another Debt. [...]

By: Benjie

Benjie — Wed, 07 Apr 2010 02:40:59 +0000

I hear you there, starting off with a little hard work is good. And at least, it is a good start better than accumulating more debt.

By: Jeff @DeliverAwayDebt

Jeff @DeliverAwayDebt — Tue, 06 Apr 2010 22:00:09 +0000

Yes sir, taking on more debt will NOT solve the problem of the first debt. Sometimes a person just needs to put in a little hard work to eliminate the debt, instead of “rate jumping” into a lower payment and staying in debt forever.

By: Benjie

Benjie — Tue, 06 Apr 2010 04:49:51 +0000

No problem.

It’s like they are just hiding the facts that debt is debt or they are not facing it.

By: Benjie

Benjie — Tue, 06 Apr 2010 04:27:14 +0000

Well, some people think that the second debt cancels out the first debt, it’s their logical thinking. Maybe they should stop being complicated and use simple math, like first debt + 2nd debt = more debts. I think it’s easier to put it that way.