519-646-2222Good debt, bad debt
I’d rather have good debt than bad debt, how about you? Good debt, bad debt, it’s all debt – how on earth can one form of debt be called and another bad?
O.K. so, some folks might think bad debt is delinquent debt, others may differentiate along the lines of the type of debt, cash store debt is obviously not good but mortgage debt may be considered as such.
It is hard to see any debt as being good although we might agree that some debt is more necessary than other debt. For example, it is hard to buy a house or a new car without having debt in some measure.
The best kind of debt is forgivable debt, perhaps debt owed to close family members might fall into that category, the worst kind of debt is surely debt that must be repaid, especially at high interest rates.
Regardless of whether you have good debt or bad debt we can help you develop a strategy to get out of debt and stay out of debt.