What's more crippling: credit card debt or student loan debt?

[Balla]

Both suck ass, but imma have to say credit cards.

The interest is way higher, they barely help you if you can’t pay. Then they charge your account off after a certain amount of time.
If you want a car or a house loan, you’ll either not get it or have to pay even more interest for the loan you take out. Then if you declare bankruptcy, that’s for 7 years your credit is fukked. Who wants that on their report?

Student loan debt sucks too, but the interest is lower, they are more flexible, even if you get a degree that isn’t high paying you could still use it some way, maybe for a management position in a company. You can’t declare bankruptcy, but you can pay lower amounts until you get more money.

They both suck, but to pay either off you have to have decent money coming in.

 

[Drew Wonder]

After I graduated and got my own place, I walked to work and saved more than $10K. I bought a used car straight cash. Thought I was winning because I didn’t have to worry about monthly car payments.

Six years later and I’m constantly paying for repairs on that POS and car insurance, so much so that I might as well have a car note. Looking back I should’ve just leased and used the $10K to help pay off my loans quicker.

But you live and learn smh

 

[O.iatlhawksfan]

There's statute of limitations on CC debt.

Student loan debt is

Student loan debt isn’t for life when there’s major politicians proposing to get rid of all em

 

[Balla]

After I graduated and got my own place, I walked to work and saved more than $10K. I bought a used car straight cash. Thought I was winning because I didn’t have to worry about monthly car payments.

Six years later and I’m constantly paying for repairs on that POS and car insurance, so much so that I might as well have a car note. Looking back I should’ve just leased and used the $10K to help pay off my loans quicker.

But you live and learn smh

Funny thing is a lot of financial gurus say you should buy a cheap car cash.

I honestly think if it was that easy, a lot of people would cop a older car that has everything, than a newer expensive car.

And good luck buying a car cash and having it last in the south where you need to drive far everywhere.

 

[Kyle C. Barker]

Yea definitely this... well until my girl Liz come thru in 2020 and wash that shyt for us

Lizzie gets bizzie

Lizzie gets bizzie!!!!

Y'all motherfukkers are funny as shyt today

 

[C-NICE]

A payment of if you answer them. So for example you owe 10k to chase credit card. You never pay them and they sell that debt to a creditor. You hide from the creditor for 6 years and never return their calls. That creditor then sells that debt to another creditor who then calls you. You answer the phone stating that it is you who holds that debt.

So instead of the debt falling off on the 7th year. It now resets and will be on your credit for 7 more years.

so misinformed that is not true at all it goes away 7 years after the initial charge off date and the answer is STUDENT LOANS credit cards if you cant afford it oh well let it charge off and start over vs Fed student loans are at the current moment for life.

Funny thing is a lot of financial gurus say you should buy a cheap car cash.

I honestly think if it was that easy, a lot of people would cop a older car that has everything, than a newer expensive car.

And good luck buying a car cash and having it last in the south where you need to drive far everywhere.

All these Hondas out here its just people HAVE to drive a new car its almost like the iphone your old one works just fine but what do we do as consumers we have to have the newest model.

 

[JQ Legend]

Plenty people have thousands and thousands in credit card debt.

And the question is what is more crippling. As someone who recently purchased a house, i can.tell you for a fact that having 50k in student loans is a WORLD OF DIFFERENCE from having 50k in credit card loans.

People have 800 credit scores with 100k student loan debt. Can you say the same for credit card debt? No.

I repeat, its not even close

Some of yall dudes argue just to argue

Even ended with a sassy ass remark repeating the ending of my first post

Still didn't answer any of my questions tho

How many people got 50k in credit card debt?

No matter how bad credit card debt is, it goes off your credit report after 7 years

You had to completely overlook the points I made because you have no intelligent response to them

Yes you can bullshyt student loan debtors till the day you die but you can just ignore credit card debt and be in the clear in less than a decade

Now don't quote me again until you actually address my points

 

[Bubba T]

Credit card debt. The interest rates are higher plus student loans are considered good debt.

Nobody is out here campaigning on forgiving credit card debt.

 

[Sad Bunny]

After I graduated and got my own place, I walked to work and saved more than $10K. I bought a used car straight cash. Thought I was winning because I didn’t have to worry about monthly car payments.

Six years later and I’m constantly paying for repairs on that POS and car insurance, so much so that I might as well have a car note. Looking back I should’ve just leased and used the $10K to help pay off my loans quicker.

But you live and learn smh

Yeah.

And if you get a new car sometimes you can get 0% financing.....or a very low rate.

 

[ba'al]

If you graduated before joining would they retroactively pay for your college?

As in pay off your debts? I think it is a program for enlistees and they pay off a portion of your debt.

 

[Sad Bunny]

Some of yall dudes argue just to argue

Even ended with a sassy ass remark repeating the ending of my first post

Still didn't answer any of my questions tho

How many people got 50k in credit card debt?

No matter how bad credit card debt is, it goes off your credit report after 7 years

You had to completely overlook the points I made because you have no intelligent response to them

Yes you can bullshyt student loan debtors till the day you die but you can just ignore credit card debt and be in the clear in less than a decade

Now don't quote me again until you actually address my points

Companies sue people.

Most people don't want to chalk their credit so they try to pay them off even at a minimum.

A lot of people get 50K credit card debt

 

[Drew Wonder]

Funny thing is a lot of financial gurus say you should buy a cheap car cash.

I honestly think if it was that easy, a lot of people would cop a older car that has everything, than a newer expensive car.

And good luck buying a car cash and having it last in the south where you need to drive far everywhere.

Yeah that's the advice I was going on, that no matter how much I paid in repairs it wouldn't be as much as monthly car payments. But it's at the point where it's basically a money pit. I'm definitely leasing next time

 

[Balla]

so misinformed that is not true at all it goes away 7 years after the initial charge off date and the answer is STUDENT LOANS credit cards if you cant afford it oh well let it charge off and start over vs Fed student loans are at the current moment for life.



All these Hondas out here its just people HAVE to drive a new car its almost like the iphone your old one works just fine but what do we do as consumers we have to have the newest model.

I knew someone that had an older Honda and his shyt stayed in the shop; he said he paid more in repairs than he did for the car itself.

 

[Balla]

so misinformed that is not true at all it goes away 7 years after the initial charge off date and the answer is STUDENT LOANS credit cards if you cant afford it oh well let it charge off and start over vs Fed student loans are at the current moment for life.



All these Hondas out here its just people HAVE to drive a new car its almost like the iphone your old one works just fine but what do we do as consumers we have to have the newest model.

I knew someone that had an older Honda and his shyt stayed in the shop; he said he paid more in repairs than he did for the car itself.

 

[CreepyMcCreeperson]

The balance on your student loans don’t mess up your credit the same way the high balances on credit cards do.

Say you have a $700 credit card bill, and are only paying $30 a month, with 23% interest. It will take longer to pay that off than to drop 700 off your student loan.