Because everything is "up in the air worldwide" so being debt free will put you more in a position to financially survive the next few years here on earth. This is one of the worst times to be really in debt because one could be easily forced into Chapter 8 or Chapter 11 bankruptcy. If you think you need to you should study the laws around both types of Chapters of personal Bankruptcy. For companies there is also Chapter 11 reorganization bankruptcies.
This is a time you want to be completely out of debt so you don't go under financially through crazy times like this. The Early 1980s were like this too. However, if you are an economist you likely understand all this better than I do.
So, if you can somehow it might be a good time to pay off your debts so they don't come back and "Bite You" in these times the next few years.
No comments:
Post a Comment