Poll: How much do you owe

7 points·helwr··9 comments

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.

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I'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).

thanks, updated

Few 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).

Ugh. "buy anything".

I'm 1.4M in the hole.

lol - someone downvoted you. The decorum here at HN is just ridiculous lately. I cannot begin to imagine why someone would downvote you but whatever...

They're in "downvote first, ask questions later" mode.

I'm guessing this is mostly a mortgage?

Many 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.

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