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. #21
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    Re: Are you morally obligated to repay a loan that you take?

    Quote Originally Posted by TeleKat View Post
    Morality isn't that black & white.
    You agree to repay as a condition of getting the money and then when you get the money, you renege on your end of the deal. That's immoral. Morality is black and white enough for any honest person to understand THAT.
    You can't reason anyone out of a position they didn't reason themselves into in the first place.

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

    I think there is a moral component to getting a loan and making good on your debts.
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  3. #23
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    Re: Are you morally obligated to repay a loan that you take?

    Quote Originally Posted by sangha View Post
    In that case, why didn't you say so?

    The answer is, one has no moral obligation to repay a bank loan. It's business, all business. I expect the bank to do whatever is in its' own interests to do as long as it is legal, and they should expect the same from me.
    What's makes a bank loan different from a loan from an individual? Do you figure it's different if it's a bank you're screwing instead of a "real person"? Is that it?
    You can't reason anyone out of a position they didn't reason themselves into in the first place.

  4. #24
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    Re: Are you morally obligated to repay a loan that you take?

    Quote Originally Posted by Papa bull View Post
    The banks don't get all their money back from selling the house. It was YOUR choice to buy the house. Reneging on the deal later just because it doesn't suit you any more is about the same as stealing money. You take money with the condition that you pay it back and you decide not to live up to your end of the bargain because it's more profitable for you if you don't. That's basically stealing.
    It wasn't the BANKS CHOICE to give me a loan and they get the appraisal for the collateral they hold. If they overstated the appraisal it is the bank that stole money from me by inflating the price of the home. If a banker cannot take care of his money who can?

  5. #25
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    Re: Are you morally obligated to repay a loan that you take?

    Quote Originally Posted by sangha View Post
    The govt pays back all of the money it borrows. It does not default on its' debt (though the immoral republicans are doing everything they can to change that)

    Then it turns around and borrows again.
    I've never seen that to be the case...as far as republicans. They never wanted to default on the debt. They wanted for existing government programs to pay for the debt instead... they would go first, not defaulting.
    It's convenient to make that assumption for you though.

  6. #26
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    Re: Are you morally obligated to repay a loan that you take?

    Quote Originally Posted by TeleKat View Post
    Morality isn't that black & white.
    In this case it is. When you borrow money with no intent to repay it, not only is it a moral issue--it is a legal one: you are obtaining money under false pretenses.

  7. #27
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    Re: Are you morally obligated to repay a loan that you take?

    Quote Originally Posted by Papa bull View Post
    What's makes a bank loan different from a loan from an individual?
    The fact that it's not a person lending the money.

    Do you figure it's different if it's a bank you're screwing instead of a "real person"? Is that it?
    Yes, that is exactly it. I don't expect a bank to do what is moral; I expect the bank to do what is in its' best interests to do.

    The bank should expect the same from me
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    Re: Are you morally obligated to repay a loan that you take?

    Quote Originally Posted by Papa bull View Post
    The banks don't get all their money back from selling the house. It was YOUR choice to buy the house. Reneging on the deal later just because it doesn't suit you any more is about the same as stealing money. You take money with the condition that you pay it back and you decide not to live up to your end of the bargain because it's more profitable for you if you don't. That's basically stealing.
    [emphasis added by bubba]

    i hear you

    NO way did the lender have the CHOICE to deny the requested loan

    Are you morally obligated to repay a loan that you take?[W:461]-speak-fluent-sarcasm-jpg
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    Re: Are you morally obligated to repay a loan that you take?

    Quote Originally Posted by Declan View Post
    it is a legal one: you are obtaining money under false pretenses.
    Seems like that would be difficult to prove.
    I don't have proof for any of this, but you have to wonder.

  10. #30
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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?
    if from a person, yes

    if from a company, no

    From an individual, you can cause that individual harm in most situations as most individuals have only so many resources. If its a company, well that build a % loss into the business model, so its already accounted for. Given that, its best to try to repay any loan you can and only not to in cases where you become destitute.
    Last edited by tacomancer; 01-23-15 at 03:38 PM.

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