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Poll: How much do you owe
Someone has recently posted an income poll for 2009 which was quite interesting,but i think it is more important how much debt do you have and how much freedom you loose by being indebted to someone, be it an institution or an individual.
- nl 17y agoI'm not sure if Angel or VC money can be counted as debt, but its [sic] open to discussion No it's not (open to discussion). It's not debt, it's an investment (ok, yes I know about convertible notes, but it's still not personal debt).
- helwr 17y agothanks, updated
- pontifier 17y agoI'm 1.4M in the hole.
- ScottWhigham 17y agolol - someone downvoted you. The decorum here at HN is just ridiculous lately. I cannot begin to imagine why someone would downvote you but whatever...
- pinksoda 17y agoThey're in "downvote first, ask questions later" mode.
- simon_ 17y agoI'm guessing this is mostly a mortgage?
- pontifier 17y agoMany of them, and over 100k in unsecured credit cards, and just people that I owe money to. It's all related to a housing rental business that I inherited, and it's about to fail. Much of the unsecured debt is in default now, and next month I will see the first missed mortgage payments. I hate real estate. I am considering just taking all the rent and letting foreclosure happen in order to fund my real startup.
- JacobAldridge 17y agoFew hundred k - all mortgage. But if I liquidated, I'd be up, because my assets outstrip my liabilities. I guess that's the difference between good debt (supports asset growth) and bad debt (used to by anything that depreciates).
- JacobAldridge 17y agoUgh. "buy anything".