View Poll Results: Is there a moral obligation to repay money you borrow?

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  • If you borrow money, you are morally obligated to repay it.

    110 34.48%
  • I feel no moral obligation to repay loans I've taken out

    209 65.52%
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Thread: Are you morally obligated to repay a loan that you take?[W:461]

  1. #101
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    Re: Are you morally obligated to repay a loan that you take?

    yes, I feel there is a moral obligation to repay a loan
    if a situation arises where repayment becomes difficult, I also believe their is a moral obligation to attempt to re-visit the terms of the loans with the lender( and i feel the lender should have an obligation to entertain revisiting the terms)

    and I do not believe there is a substantial difference between borrowing from a bank or a single person in regards to a persons moral obligation to repay his loan.... either you find repaying your loans to be moral obligation, or you do not...who or what the lender is rather irrelevant to this determination.




    that all said... **** happens... sometimes a person is completely and utterly incapable of following through with their moral obligation through no fault of their own.
    these folks should have a mechanism to find remedy.

  2. #102
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    Re: Are you morally obligated to repay a loan that you take?

    Quote Originally Posted by CanadaJohn View Post
    Not paying back a mortgage, while you financially are capable of doing so, simply because you feel the home is no longer worth more than the debt you owe on it is immoral.
    NO it's not immoral. It is a business decision and business decisions are made on the basis of interest, not morality.

    If the right wingers were as sincere about business being ruled by morality as they're trying to pretend to believe in this thread, then they'd all support minimum wage and anti-discrimination laws.
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    Re: Are you morally obligated to repay a loan that you take?

    Quote Originally Posted by CanadaJohn View Post
    I'll be damned if I'd accept Donald Trump as either a conservative or moral. But you're absolutely right about big money people often having the cash and the expertise to game the system to their own financial benefit and that should be wrong in anyone's book.
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  4. #104
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    Re: Are you morally obligated to repay a loan that you take?

    Quote Originally Posted by sangha View Post
    NO it's not immoral. It is a business decision and business decisions are made on the basis of interest, not morality.

    If the right wingers were as sincere about business being ruled by morality as they're trying to pretend to believe in this thread, then they'd all support minimum wage and anti-discrimination laws.
    That's your view, and you're entitled to it. I'm speaking for myself, personally. Not for anyone else, and not for any business or entity. For me, personally, if I take out a mortgage to partially pay for a home that I freely chose to purchase at a price I freely negotiated and agreed to, then as long as I'm financially capable of paying that mortgage, I have a moral obligation to do so regardless of the housing market circumstances that follow.

    As I've said previously, my signature on a contract is my word - not keeping my word is immoral.
    "Liberals claim to want to give a hearing to other views, but then are shocked and offended to discover that there are other views." William F. Buckley Jr.

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    Re: Are you morally obligated to repay a loan that you take?

    Quote Originally Posted by Gaius46 View Post
    Those profit margins are what pay for lots of peoples' retirement. Like it or not corporate management has a legal and moral obligation to do right with the assets that the owners of those assets have entrusted in them.
    That's fine but it has nothing to do with the point of my argument.
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  6. #106
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    Re: Are you morally obligated to repay a loan that you take?

    Quote Originally Posted by Gaius46 View Post
    What if you borrow 10 grand from your brother in law?
    Oh you should never pay him back unless, of course, your sister is nailing his best friend, in which case you have to throw the guy some love.

  7. #107
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    Re: Are you morally obligated to repay a loan that you take?

    Quote Originally Posted by sangha View Post
    By "do right" are you referring to the way banks sold mortgages to people they knew could not afford them because they could avoid all the risk of default by selling the loan off to the govt?
    The situation was as I recall a tad more complex that that since the government was actively telling the industry to make more loans too marginal borrowers.

    Generally I see nothing wrong with companies or people doing whatever is legal to better themselves. Personally I won't do things that are legal that offend my sense of right but my sense of right is mine and mine alone.

    With a contract my word is my bond and I dishonor myself if I don't do my best to live up to the terms. Of course stuff happens and if my situation changes - say I lose my job - I'll look to make an arrangement that will still honor my word in the end.

    Doesn't matter if the contract is a handshake with my brother in law or a mortgage with a bank.
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    Re: Are you morally obligated to repay a loan that you take?

    Quote Originally Posted by sangha View Post
    NO it's not immoral. It is a business decision and business decisions are made on the basis of interest, not morality.

    If the right wingers were as sincere about business being ruled by morality as they're trying to pretend to believe in this thread, then they'd all support minimum wage and anti-discrimination laws.
    the question isn't one of whether business should be ruled by morality.... the question is about the whether there is a moral obligation for the borrower to repay what he has borrowed.

    nothing about the lender affects the borrower in regards to the question.

  9. #109
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    Re: Are you morally obligated to repay a loan that you take?

    Quote Originally Posted by Papa bull View Post
    If you borrow money, do you feel there is a moral obligation to repay the money you borrowed?


    Did you sign a document or make a verbal promise to repay it?

    Then yes....else you have no integrity.
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  10. #110
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    Re: Are you morally obligated to repay a loan that you take?

    Quote Originally Posted by sangha View Post
    NO it's not immoral. It is a business decision and business decisions are made on the basis of interest, not morality.

    If the right wingers were as sincere about business being ruled by morality as they're trying to pretend to believe in this thread, then they'd all support minimum wage and anti-discrimination laws.
    Minimum wage and anti-discrimation laws are immoral, so clearly if I was interested in morality I would oppose them.

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