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If all your credit cards, loans, and mortgage were called in and you had to finalize them all  by the end of  the financial year (30th June) where would that leave you and what would you do to pay your debt? 

 

 

I know that you believe you understand what you think I said, but I'm not sure you realize that what you heard is not what I meant.
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Donna, would you survive the scenario in the opening post?

 

I don't want an answer, I just want you to give it some thought 🙂

 

I know that you believe you understand what you think I said, but I'm not sure you realize that what you heard is not what I meant.
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@poddster wrote:

Donna, would you survive the scenario in the opening post?

 

I don't want an answer, I just want you to give it some thought 🙂

 


Why are you so interested in my personal affairs?

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What? When?
We bought our first (very modest) home in 1981 and had a mortgage. How old are you?
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Well strangely enough if no one owned house, there would be no houses to rent for the people that dont own houses hahahah

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Donna i have no interest in your personal affiars and if you read my post, it shows that 🙂

 

Lurk, age and time has nothing to do with it, the advent of credit cards and easily availablr credit is the catylist.

I know that you believe you understand what you think I said, but I'm not sure you realize that what you heard is not what I meant.
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Nup. No credit cards at the time. Nothing "on the tick" . But we could not have saved, at the time, enough to have bought a house outright. Debt and mortgage have become an inevitability
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I think it is about time for the Government to cut the *bleep* with the Corporate tax and charge them the tax acording to the profit they make, not lousy 8cents, when the average worker has to pay 36cents in the dollar.

What are they all going to do with the billions they make every year? Take it overseas of course. It won't be spent here in our country.

 

When I think about the likes of Gina, my blood curls. She is so greedy that she does not even give her children what is rightfully teirs, left to them by their Grandfather. What on earth is that woman going to do with all that money? Paying 8cents tax is to much for her? Let her go and mine overseas where she can have people working for $2.- a day. She depends on the Government to give permission to dig up more of our land, so the Government is in the position to make the rules. Rules that are of benefit to the whole of Australia, not a select few.

 

Australia is in debt? I too would like an itemised account of to whom and for what we owe money. Then make the culprits accountable.

If a Hotel Manager mishandles the profits of the Hotel, The owner will sack and sue the Manager and not the rest of the staff working in his Hotel.

 

No good blaming the people of Australia for not caring. We vote for a Government, believing all their promises only to find out that again we have been duped. Funny part is that we only hear about the deficit after the elections.

 

Give me a break, please. We are not stupid, only to trusting still, but even that seems to change slowly and people turning cynic.

 

Erica

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@poddster wrote:

If all your credit cards, loans, and mortgage were called in and you had to finalize them all  by the end of  the financial year (30th June) where would that leave you and what would you do to pay your debt? 

 

 


i will answer your question.

right now i would be fine. i am renting at the moment.

 

why are the loans being called in? this is very important. why are the loans being called in?

what is the scenario where all these loans are needing to be paid?

 

if i still had the mortgage that i hade not long ago, i could refinance?

i could raid my super?

 

failing that i would need to sell. and if i couldn't sell in the allowed time i would be at the mercy of the loan provider, and possibly be forced in to bankruptcy.

 

this would be a  very common scenario

 

 

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Not inevitable is you resist it Lurk, but it would mean a mammoth re-education program.

 

Some in this thread have the attitude that if it is beyond your means you wait until it is not beyond your means, I applaud those people 🙂

I know that you believe you understand what you think I said, but I'm not sure you realize that what you heard is not what I meant.
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And poddy, regarding mordgages, have you seen how many rental places are available compared to houses for sale? Where should a young couple live? In mst instances repayments are not as high as rent, and it does not matter how old a modest house is, it's the location that bumps the value of the house up.

 

Erica

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