Defaulting On Debt Is Not Theft Nor Immoral, It Is Simply A Business Decision

[Consent Withdrawn]

Originally Posted by texdav

Basically if you can ;'t file bankrupsy it is a leagl and moral problem. That si why bankrupsy was passed as law. More and more are seeing this depending on the sate they are in. Morally you are burdened in the least with basicallty a deadbeat status on your loan trust worthyness at the worse you receive a 1099 from the debtholder on them writing off you as a debtor.The government receives this and looks at it has income.

Do you differentiate between legal and moral or are they the same to you? This is not a rhetorical question.

Also, to default is less expensive and doesn't require one to contaminate oneself by contact with an attorney. The end result of defaulting and declaring bankruptcy are the same, but the means of getting there via default are much cheaper and less unpleasant. Hmmm, let me think.... default and have bad credit but a lot more money or declare bankruptcy, still have a stain on my credit report, spend lots of money in the process and have to endure the unpleasantness of dealing with an attorney. Seems like a no brainer to me. Just a simple business decision like, say, laying off ten workers if I was a CEO of a corporation and profits weren't quite where my stockholders thought they should be. Of course laying off ten employees seems a bit more forgivable to the self righteous posters here than defaulting on a debt.

[floridasandy]

i don't like the bailout deals and think the government did wrong by the citizens, so can i just stop paying? the biggest taxpayers don't get much bang for their buck so should they stop paying taxes as well? i think some people don't really care about the rules as long as they can find a way to personally benefit from ignoring them. we have a structured society for a reason and without it a society can devolve into anarchy.

if the taxpayers stop paying (because they don't feel that they should OWE IT) then how is the government expected to provide for the neediest citizens? this is a slippery slope you want to go down and it might not have a pretty ending, especially for people who don't think that their word is their bond.