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. #381
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    Re: Are you morally obligated to repay a loan that you take?

    Quote Originally Posted by sangha View Post
    There's nothing immoral about the borrower choosing an option that the lender agreed would satisfy the loan
    Flat out nonsense. A lender never agrees that relinquishing of the property under lien in the loan transaction "satisfies the loan". That's stupidity. The lender protects itself primarily by placing a lien on the property number one to ensure that immoral people such as you present don't sell the property to another and then abscond with the cash leaving the lender with nothing. They secondly are entitled to sue you for the balance of any outstanding principal not recaptured by sale of the collateral property. If you default on a mortgage, the lender can sell the home, realize the proceeds of that sale, and then sue you for any balance owing that remains. They don't just accept your transactional loss just because they loaned you funds to engage in that transaction.

    The idiocy of the posts from those with limited or no morals is quite enlightening.
    "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.

  2. #382
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    Re: Are you morally obligated to repay a loan that you take?

    Quote Originally Posted by tacomancer View Post
    If you find truth to be such, that's your issue, not mine. I would treat a one person business differently as then I am dealing with a living being and it would take on that additional meaning.

    If I make a promise to a living being, then yes I am obligated morally to keep it. Your question is otherwise too broad to have any meaning.
    Because corporations aren't run by people.

  3. #383
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    Re: Are you morally obligated to repay a loan that you take?

    Quote Originally Posted by Henrin View Post
    Because corporations aren't run by people.
    Corporations may have employees but those employees are just employees and not the corporation itself. The actual corporation is just a legal fiction.

  4. #384
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    Re: Are you morally obligated to repay a loan that you take?

    Quote Originally Posted by tacomancer View Post
    If you find truth to be such, that's your issue, not mine. I would treat a one person business differently as then I am dealing with a living being and it would take on that additional meaning.

    If I make a promise to a living being, then yes I am obligated morally to keep it.
    Okay, what about a two person business...same question? What if you promise both of them?

    What about a privately owned franchise - run by only one person?

    What if the owner of a small, family run business asks you to promise him personally that you will pay back the loan?

    What if a bank manager - who is a family friend - asks you to personally promise (above and beyond the loan agreement) that you will pay the bank back?
    Last edited by DA60; 01-24-15 at 11:41 AM.

  5. #385
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    Re: Are you morally obligated to repay a loan that you take?

    Quote Originally Posted by whysoserious View Post
    So when it happens in the free market, your thoughts are???

    Also, if we're getting into the practice of talking about morality in financial decisions, is now a good time to bring up worker rights and worker pay?
    If you want to deflect and hijack the thread for your particular agenda, it's not for me to stop you.
    "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 DA60 View Post
    Okay, what about a two person business...same question? What if you promise both of them?

    What about a privately owned franchise - run by only one person?

    What if the owner of a small, family run business asks you to promise him personally that you will pay back the loan?

    What if a bank manager - who is afamily friend - asks you to personally promise (above and beyond the loan agreement) that you will pay the bank back?
    1. I would feel morally obligated if I promised the owner
    2. I would feel morally obligated
    3. I would feel morally obligated
    4. I would feel morally obligated so long as that manager remained employed there and could be harmed by my actions.
    Last edited by tacomancer; 01-24-15 at 11:44 AM.

  7. #387
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    Re: Are you morally obligated to repay a loan that you take?

    Quote Originally Posted by Papa bull View Post
    In afraid you are the one lying here. The lender must go to court and exercise legal options against you because you failed to meet YOUR obligations.

    Foreclosure does not require the lender to go to court.

    The lies are beginning to pile up
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    Justice Thomas' opinions consistently contain precise, detailed constitutional analyses.
    Quote Originally Posted by jaeger19 View Post
    the vast majority of folks that need healthcare are on Medicare.. both rich and poor..

  8. #388
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    Re: Are you morally obligated to repay a loan that you take?

    Quote Originally Posted by CanadaJohn View Post
    Flat out nonsense. A lender never agrees that relinquishing of the property under lien in the loan transaction "satisfies the loan".
    That is a flat out lie

    In most loans, the lender agrees that the collateral will satisfy the loan.
    Quote Originally Posted by matchlight View Post
    Justice Thomas' opinions consistently contain precise, detailed constitutional analyses.
    Quote Originally Posted by jaeger19 View Post
    the vast majority of folks that need healthcare are on Medicare.. both rich and poor..

  9. #389
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    Re: Are you morally obligated to repay a loan that you take?

    Quote Originally Posted by sangha View Post
    defaulting on a loan is not, in and of itself, fraudulent in any way.
    If you go into the transaction with the view, as espoused by you, that walking away is "satisfying" your obligations, then you are indeed entering into fraud. It is no different from those who sign a lease to rent a house or apartment, pay the first and last month rent, and then become squatters until evicted.

    I'd love to see you apply for a loan of any sort and suggest to the lender your view on your obligations. You'd be escorted to the door fast and asked not to come back.
    "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 tacomancer View Post
    Corporations may have employees but those employees are just employees and not the corporation itself. The actual corporation is just a legal fiction.
    A corporation is a legal entity by defination, but it is also a business and like all businesses it is run by people.

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