/biz/ - Business & Finance

[Anonymous No.1718898]

how come some people reach million dollars in debt? i mean ordinary people.

200$ credit debt and i get phone calls none stop

[Anonymous No.1718899]

>>1718898

Women

[Anonymous No.1718911]

>>1718899
this

[Anonymous No.1718914]

>>1718911

[Anonymous No.1718923]

>>1718914
let me rephrase

how does the bank/providers let a person owe them a million? i thought that usually you get legal proceedings once you reach like 10k debt

[Anonymous No.1718929]

>>1718923
Imagine this
The legal proceedings are the debt
Legal debt goes crazy high crazy fast and if you lose, boom

[Anonymous No.1718937]

>>1718923

Might want to do research on Trump to find your answer.

[Anonymous No.1718939]

>>1718937
i was aiming more towards students and buisness owners that owe huge sums of money. not buisness guys that roll a million every day

[Anonymous No.1718943]

>>1718898
all depends on how much you're worth.

someone that isn't worth much, like you, will get harassed over 200 in debt. But say for someone like Kanye West who apparently owes like 200 million; he has a lot more potential to get that money because his bank records show he pulls in millions.

tag on your soul, everybody got a price.

[Anonymous No.1718952]

Corrupt middlemen selling loans to those that can't afford it and using other people's money to do it.

[Anonymous No.1718959]

>>1718939

Business owners are protected by an LLC.

Student loans are backed by the government, thus will become child support sooner-or-later.

[Anonymous No.1719446]

I have almost a mill in debt. It's all against rental properties, easy to do actually.

[Anonymous No.1719485]

I know people with over 200k in student debt alone

[Anonymous No.1720654]

>>1719446
Yeah but you got 1 mill in assets and rent income to compensate

I think op meant net worth