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allister
Apprentice
Joined: 15 May 2007
Posts: 7
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 Posted: 03/09/11 - 08:57 Post subject: |
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| I have recently got a new credit. I have heard that not all debts are the same, and some people told me there are good and bad debts. However, I do not know much about it. What are exactly good and bad debts? If anyone could help me with some advice, that would be great. Thanks in advance. |
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kinsley
Apprentice
Joined: 15 Feb 2006
Posts: 6
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| Posted: 04/07/11 - 23:19 Post subject: |
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| Any business is always a big risk. You simply never know what can go wrong, and sometimes things go against all odds and you suddenly find yourself in big trouble. Bad debts, as a debts someone has toward you, but you cannot collect, can also be problematic. These effectively produce no income. On the other hand, good debts are those you have for some effective spending, investing, or getting any kind of revenue. If you go into a mortgage debt, or have a small debt on your credit card, you can count these as good ones. |
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