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Is this fact? Because my intuition is making me believe you're wrong. If you're successfully paying off your CC, then what are you paying off if it's not debt?
by dgzl 7y ago
Is this fact? Because my intuition is making me believe you're wrong.
If you're successfully paying off your CC, then what are you paying off if it's not debt?
IMO, to be in someone's debt means you have to pay them back, which is regardless of what cash you have.
Are you trying to say that if I borrow money from someone and I actually have the cash to pay them back, then I'm not actually in their debt?
- izzydata 7y agoI don't know, but one of these two things is not a useful metric for what this article is trying to claim.
- kazinator 7y ago"in someone's debt" is not the same as "in debt". "In debt" is a loaded term which actually refers to a deficit situation, rather than the mere existence of loans. If we say, "OMG, X% of Americans are in debt", the reasonable interpretation is that are under financial strain due to actually running a deficit, not that some of them owe their friend ten bucks for yesterday's lunch because they forgot their wallet at the office.
- deleted 7y ago[deleted]