return2ozma@lemmy.world to News@lemmy.world · 8 days agoEven Top Earners Are Falling Behind on Credit Card and Car Paymentswww.bloomberg.comexternal-linkmessage-square36fedilinkarrow-up1188arrow-down16
arrow-up1182arrow-down1external-linkEven Top Earners Are Falling Behind on Credit Card and Car Paymentswww.bloomberg.comreturn2ozma@lemmy.world to News@lemmy.world · 8 days agomessage-square36fedilink
minus-squareBorgDrone@feddit.nllinkfedilinkarrow-up3·8 days ago I could default on all my debts that are beyond my means tomorrow But how did you manage to get debt that is above your means? If you take out a loan, for example, don’t they check if you can afford it?
minus-squareEq0@literature.cafelinkfedilinkarrow-up6·8 days agoThey check if you can afford it “right now”, but the situation could change: a kid, an emergency, inflation, loosing your job, inflation… have i talked about inflation? Or the loan rates could change too
minus-squareAlecSadler@lemmy.blahaj.zonelinkfedilinkarrow-up2·7 days agoYeah, but you can lie. Half the time places don’t even ask for proof for some reason. Or, yeah, but I could lose income tomorrow (especially with how fragile the job market is right now). I got a loan back in January and a month later lost my highest paying contract job. I’ve since replaced it, but - shit can happen for sure.
But how did you manage to get debt that is above your means? If you take out a loan, for example, don’t they check if you can afford it?
They check if you can afford it “right now”, but the situation could change: a kid, an emergency, inflation, loosing your job, inflation… have i talked about inflation? Or the loan rates could change too
Yeah, but you can lie. Half the time places don’t even ask for proof for some reason.
Or, yeah, but I could lose income tomorrow (especially with how fragile the job market is right now).
I got a loan back in January and a month later lost my highest paying contract job. I’ve since replaced it, but - shit can happen for sure.