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Unfortunately this is something that most people around the world fail to be experts in, bad consolidation credit debt loan xxasdf Good debt is something that helps improve your financial position or net worth, bad consolidation credit debt loan xxasdf That is, in simpler terms, a good debt increases cash flow. That is, mortgage debt, for example, is good debt. You are borrowing money from someone, but you're getting a tax advantage so that you are able to cancel interest on an asset that's gaining in value over time. Also you can live there. On the other hand bad debt can occur when you buy something that goes down in value immediately. That is, when the thing that has been brought on credit does not have the potential to increase its value. Purchase of disposable goods or durable items or, as commonly found, the use of higher interest credit cards can lead one into bad debts. Ideally, debt-to-income ratio of a person shouldn't go above 20 percent. That is - while adding up all of your non-mortgage loans, credit cards and outstanding charges - it should not exceed 20% of the annual income. If it goes beyond the 20% mark, that is bad debt and it doesn't go down well in his/her credit reports even if payments are made in time. To conclude, debts can be productive if properly and rationally exploited. It is financially draining to incur bad debts but if you could gain more by investing the borrowed money than the interest associated with the credit, then it is good debt which is useful. Managing one's debt and hence the finances might need a bit of brain scratching. But it is not that enigmatic for a common man to comprehend. After all it is no rocket technology. It is all about learning to manage your finances!

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