how much debt does indians(h1, opt, cpt) owe to us financial institutions

[srdh21]

1 hour ago, kevinUsa said:

considering there are over 

H1&H4     300k

opt &CPT 100k 

HOUSING --------------   ON AVG  at debt  randing from 150-350k

CREDIT CARD  ------ 50-60k

 CAR  ---------------------10-25k

considering that over 100k people have purchased a house in various cities in USA  with avg debt at a median of  250k

250k*100k  

that around comes to a total of   $25bn 

 considering all the available options open  that there are 5bn in CC debts

 this is around 30Bn 

This is a considerable amount that we owe to us economy 

with my knowledge, this can create  ripples in the finance industry in the USA 

 

  I put all of them at the lowest level 

 I have come to a conclusion after reading a ton of articles in various media outlets 

etc

  any feedback is highly appreciated 

it will not be easy running away from debt in US

the world specially India is so integrated with US that its not worth to jump owing money to banks In US

India has many agreements in place for data sharing, mind you the India has Aadhar now, its not easy to get off radar in india too

the best thing one can do it to pay minimum payments and be in good standing until you get chance to come back

same kind of negative economic scenarios occured for people in 2000/2001, 2008.. those who ran away are yet to come back to their best, reason is simple, you cannot steal and make good career out of it simple, you will have guilt and inferiority complex for long time

ready about opportunity cost, its much more than CC limits

India lo jobs cheyalante US BG check fail avutadi, specially indian companies client is US compnay

the opportunity cost of being with good credit and financial standing in US is much more than your credit card limit

all the amount one has taken out of the system will be written off as chargeoff's, all the banks have insurance against this

$100B will not make any dent in the financial system, they will stop issuing new credit and also cut down credit balance to existing people on Visas

housing situation is entirely different, i dont think one who has bought home will think to run away scamming the system, they can easily lease out the property and move out until they get chance to come back

 

[Run]

7 minutes ago, MagaMaharaju said:

ee lekkana balance kuda ekkuve undi untadhi anukuna 

balance below 100k.. ..chepu entha kavali appu... 30% interest tho istha

[MagaMaharaju]

Just now, Run said:

balance below 100k.. ..chepu entha kavali appu... 30% interest tho istha

no thanks

[AndhraneedSCS]

27 minutes ago, kevinUsa said:

ok

 considering your numbers the numbers might go upto 100Bn  which very high 

You are not considering equity. 

 

for example, if the house loan is for 100K and the house is worth 200K, then I dont think there is any risk with it as banks can make profit in this situation of they dont get the loan back.

 

Same with Cars. Usually they will be for 60 month amortization. So, banks wont lose anything in this case also. 

only catch is credit cards 

[kevinUsa]

3 minutes ago, srdh21 said:

it will not be easy running away from debt in US

the world specially India is so integrated with US that its not worth to jump owing money to banks

India has many agreements in place for data sharing, mind you the India has Aadhar now, its not easy to get off radar in india too

the best thing one can do it to pay minimum payments and be in good standing until you get chance to come back

the opportunity cost of being with good credit and financial standing in US is much more than your credit card limit

all the amount one has taken out of the system will be written off as chargeoff's, all the banks have insurance against this

$100B will not make any dent in the financial system, they will stop issuing new credit and also cut down credit balance to existing people on Visas

housing situation is entirely different, i dont think one who has bought home will think to run away scamming the system, they can easily lease out the property and move out until they get chance to come back

 

yeah I agree with you bro 

the points you made are to considered  

I just made a calculation  on  paper   by readign articles from media outlets

  the issue u have raised is consequences after the defaulting the money to financial institutions 

[tacobell fan]

1 hour ago, kevinUsa said:

one of cousin has  150k in credit line 

 

what's the point? More debt is not a great achievement 

[Prince_Fan]

2 minutes ago, kevinUsa said:

yeah I agree with you bro 

the points you made are to considered  

I just made a calculation  on  paper   by readign articles from media outlets

  the issue u have raised is consequences after the defaulting the money to financial institutions 

kevin...office lo pani M leda

[tacobell fan]

Just now, Prince_Fan said:

kevin...office lo pani M leda

chinnu

[Maryadaramanna]

11 minutes ago, srdh21 said:

it will not be easy running away from debt in US

the world specially India is so integrated with US that its not worth to jump owing money to banks In US

India has many agreements in place for data sharing, mind you the India has Aadhar now, its not easy to get off radar in india too

the best thing one can do it to pay minimum payments and be in good standing until you get chance to come back

same kind of negative economic scenarios occured for people in 2000/2001, 2008.. those who ran away are yet to come back to their best, reason is simple, you cannot steal and make good career out of it simple, you will have guilt and inferiority complex for long time

ready about opportunity cost, its much more than CC limits

India lo jobs cheyalante US BG check fail avutadi, specially indian companies client is US compnay

the opportunity cost of being with good credit and financial standing in US is much more than your credit card limit

all the amount one has taken out of the system will be written off as chargeoff's, all the banks have insurance against this

$100B will not make any dent in the financial system, they will stop issuing new credit and also cut down credit balance to existing people on Visas

housing situation is entirely different, i dont think one who has bought home will think to run away scamming the system, they can easily lease out the property and move out until they get chance to come back

 

I doubt this bhayya...naa dosth gadu India poyeppudu masth paisal eggotti poyadu..India lo loan teeskuni Business bhi shuru cheskundu

evadu aathu bhi peekale...ilantivi inka major scale lo jarigithe emanna jaragochu....but nothing as of today and coming 6 months

[Prince_Fan]

4 minutes ago, tacobell fan said:

chinnu

[kevinUsa]

6 minutes ago, Prince_Fan said:

kevin...office lo pani M leda

yeah bro 

ninna vendor tho meeting ayindi 

full appreciation vachindi 

for my work 

we met over the luch 

anduke eroju no work happy ga dbing 

 

[kevinUsa]

3 minutes ago, Maryadaramanna said:

I doubt this bhayya...naa dosth gadu India poyeppudu masth paisal eggotti poyadu..India lo loan teeskuni Business bhi shuru cheskundu

evadu aathu bhi peekale...ilantivi inka major scale lo jarigithe emanna jaragochu....but nothing as of today and coming 6 months

i know few peole who ran away with 100k 

 

[MagaMaharaju]

but life lo tirigiralemu kada

[Prince_Fan]

Just now, kevinUsa said:

yeah bro 

ninna vendor tho meeting ayindi 

full appreciation vachindi 

for my work 

we met over the luch 

anduke eroju no work happy ga dbing 

 

[MagaMaharaju]

1 minute ago, kevinUsa said:

yeah bro 

ninna vendor tho meeting ayindi 

full appreciation vachindi 

for my work 

we met over the luch 

anduke eroju no work happy ga dbing