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. #291
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    Re: Are you morally obligated to repay a loan that you take?

    Quote Originally Posted by SheWolf View Post
    How can anybody argue you should pay back a loan from a moral stand point???

    I don't consider it moral or immoral, but one should repay debt for the sake of their financial wellbeing and credit score. If your house goes into foreclosure, I don't consider you immoral. I would consider your financial stability and credit score to be unfavorable.
    Because it is keeping your word. Do you think it is moral to say you will pay someone back and never do so?

    Obviously situations can make you break your word, but if you never intended to pay the loan back then you deceived the lender into believing you would.
    Last edited by Henrin; 01-24-15 at 12:35 AM.

  2. #292
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    Re: Are you morally obligated to repay a loan that you take?

    Quote Originally Posted by sangha View Post
    I also have some problems with the process, but my objections are based on national interest not morality.
    I'm not even sure how national interest comes into play concerning foreclosures...

  3. #293
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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. Not paying back a mortgage when your life situation changes through no fault of your own and you are no longer financially capable of doing so is not immoral.
    It was the banks that set the value of the mortgage with their own appraisals and when they closed on the mortgage they agreed to the use of that home for collateral for the value they appraised. This is how mortgages have always been written. That is the reason for "qualifying" buyers and doing their own appraisals, there is a risk if someone defaults. It is not against any law to default on collateralized loan and returning the collateral satisfies the debt. The idea that banks are somehow being "victimized" because of their failure to qualify mortgages and writing "balloon" interest loans in the midst of a housing bubble is preposterous and wrong. The immorality lies totally with the bankers and the billions in fines were just a slap on the wrist. They'd try the whole damn thing again if they could

  4. #294
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    Re: Are you morally obligated to repay a loan that you take?

    Quote Originally Posted by SheWolf View Post
    How can anybody argue you should pay back a loan from a moral stand point???

    I don't consider it moral or immoral, but one should repay debt for the sake of their financial wellbeing and credit score. If your house goes into foreclosure, I don't consider you immoral. I would consider your financial stability and credit score to be unfavorable.
    well, i wouldn't automatically consider a person immoral for defaulting on a loan....but those whom fraudulently take the loan out, or purposefully default even though they have the ability to pay... yeah.. i'd say those were bad people with bad characters... immoral.

    I am actually surprised that it's the more left leaning among us who are arguing their is no moral component in this type of business.
    which is kinda making me wonder what other types of business are bereft of a moral component... or it is simply "business" as a whole that is amoral.
    meh... maybe there's a limit... maybe there's not...... but this has all been an interesting conversation.

  5. #295
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    Re: Are you morally obligated to repay a loan that you take?

    Quote Originally Posted by Thrilla View Post
    well, i wouldn't automatically consider a person immoral for defaulting on a loan....but those whom fraudulently take the loan out, or purposefully default even though they have the ability to pay... yeah.. i'd say those were bad people with bad characters... immoral.

    I am actually surprised that it's the more left leaning among us who are arguing their is no moral component in this type of business.
    which is kinda making me wonder what other types of business are bereft of a moral component... or it is simply "business" as a whole that is amoral.
    meh... maybe there's a limit... maybe there's not...... but this has all been an interesting conversation.
    Actually, I'm not. Surprised, that is. People on the left are less likely to have respect for business. I'm not sure if it's conscious or subconscious, but I suspect it's something of a "they'll screw me if I don't screw them first" mindset.
    If you claim sexual harassment to be wrong, yet you defend anyone on your side for any reason,
    then you are a hypocrite and everything you say on the matter is just babble.

  6. #296
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    Re: Are you morally obligated to repay a loan that you take?

    Quote Originally Posted by Thrilla View Post
    well, i wouldn't automatically consider a person immoral for defaulting on a loan....but those whom fraudulently take the loan out, or purposefully default even though they have the ability to pay... yeah.. i'd say those were bad people with bad characters... immoral.

    I am actually surprised that it's the more left leaning among us who are arguing their is no moral component in this type of business.
    Liberals have long argued that business men are immoral and at the same time that business is amoral. The human part of the equation somehow affects business and at the same time doesn't affect business. Liberals are not well known for coherent logic and this thread is a good example of it.

  7. #297
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    Re: Are you morally obligated to repay a loan that you take?

    Quote Originally Posted by Lursa View Post
    Alot more justification IMO.

    I wasnt that interested to begin with. I took your statements at (mostly) face value. As I presume you meant them.

    In general I find your posts mostly well-balanced.
    You finding that to be justification amazes and confuses me.. Oh well I guess we will never bridge the gap of your suspicion. Good bye.

  8. #298
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    Re: Are you morally obligated to repay a loan that you take?

    Quote Originally Posted by Henrin View Post
    Liberals have long argued that business men are immoral and at the same time that business is amoral. The human part of the equation somehow affects business and at the same time doesn't affect business. Liberals are not well known for coherent logic and this thread is a good example of it.
    Speaking of a lack of coherent logic ...

    It's simply false that "business is immoral" is a mainstream liberal claim.
    Freedom of speech is not freedom from criticism.

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

    Quote Originally Posted by Kobie View Post
    Speaking of a lack of coherent logic ...

    It's simply false that "business is immoral" is a mainstream liberal claim.
    It is on this forum and all over the internet.

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

    Quote Originally Posted by Henrin View Post
    It is on this forum and all over the internet.
    I'm sure.

    You're definitely more likely to find distrust of business on the left, but the idea that "the left" finds business itself or businessmen as a whole to be immoral is patently untrue.
    Freedom of speech is not freedom from criticism.

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