If you get into debt because you want to be materialistic why? Instead of buying a car for $30k buy one for $10k. How could you get into anything over say $10-20k debt unless its for a house? Once you got up to say $20k wouldn't you say no more? I think the mentality has to change? The banks have a lot to answer for. In the last few years I have heard people say the way to get ahead is to be in debt.Has anyone heard people saying this? ok it has happened and it sounds like it is happening a lot. My suggestion would be to package the debt and still pay it back with a lower interest bill.If its $80k and they earn $50k they should still get rid of it as long as the interest is reduced.Its the interest rate that is killing.
