> holds mortgages or student debt where their asset value & income isn't increasing
This is generally uncommon, at least for mortgage debt. If you take care of your house, it usually is an appreciating asset, and makes the debt financing worth doing.
> or someone who has credit card debt
... or a car loan. Very common. Almost nothing that people pay for with consumer credit is an appreciating asset. Though of the two, perhaps a car loan is justifiable if it enables you to get a (better) job and earn more money, even if the asset itself depreciates rapidly.
This is generally uncommon, at least for mortgage debt. If you take care of your house, it usually is an appreciating asset, and makes the debt financing worth doing.
> or someone who has credit card debt
... or a car loan. Very common. Almost nothing that people pay for with consumer credit is an appreciating asset. Though of the two, perhaps a car loan is justifiable if it enables you to get a (better) job and earn more money, even if the asset itself depreciates rapidly.