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. #31
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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?
    Yes....

  2. #32
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    Re: Are you morally obligated to repay a loan that you take?

    Quote Originally Posted by sangha View Post
    The fact that it's not a person lending the money.
    That's what I thought. I see this mentality frequently in liberals. It's a form of sociopathy to think it's OK to lie cheat or steal as long as it's a business instead of a real person that you are stealing from.
    You can't reason anyone out of a position they didn't reason themselves into in the first place.

  3. #33
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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?
    You have a moral obligation to honour any contract you sign. Your signature is your word and if your word is worthless, you have no morals. It's pretty simple. But the world is complex, so I'd like to reserve a wee bit of wiggle room to consider unique circumstances where I might waiver on that absolute.
    "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.

  4. #34
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    Re: Are you morally obligated to repay a loan that you take?

    Quote Originally Posted by foadi View Post
    Seems like that would be difficult to prove.
    It happens though from time to time, but certainly not common. The more common charges which amount to the same thing are check charges (uttering/larceny) or failure to return rented merchandise. The local police used false pretenses to go after panhandlers with their sob stories until the city code caught up with new laws allowing them just to arrest them for doing it on public property or on private property without the owner's consent. They would go after the "my car is out of gas and I need to get home" types and make them take them to their car with no gas or be arrested.

  5. #35
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    Re: Are you morally obligated to repay a loan that you take?

    Quote Originally Posted by iguanaman View Post
    Why do banks demand collateral if not to recoup losses from defaults? Why should borrowers pay for the banks mistakes?
    I thought they were being paid interest because they are "taking risks"?


    Interest is a fee that is paid for the use of the banks money.

  6. #36
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    Re: Are you morally obligated to repay a loan that you take?

    Quote Originally Posted by Papa bull View Post
    No. I'm talking about borrowing money (say for a house) and then if the house goes down in value, walking away in a "strategic default" and letting the bank get what they can for the house and taking the credit hit instead of paying for a house that has negative equity for you.
    There is a big difference between that and the original question. Yes, on principle it's moral to pay back someone what you owe them.
    What you're talking about is a very specific situation.
    “Capitalism is the astounding belief that the most wickedest of men will do the most wickedest of things for the greatest good of everyone.” John Maynard Keynes

  7. #37
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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.
    Morality isn't really anything. People however commonly agree that keeping your word is moral behavior.

  8. #38
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    Re: Are you morally obligated to repay a loan that you take?

    Quote Originally Posted by shrubnose View Post
    Interest is a fee that is paid for the use of the banks money.
    True but that fee varies because of risk doesn't it? The more risk the more interest. Right?

  9. #39
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    Re: Are you morally obligated to repay a loan that you take?

    Quote Originally Posted by iguanaman View Post
    True but that fee varies because of risk doesn't it?
    The more risk the more interest. Right?






    My experience is that if you're a better risk, you get a better interest rate.

    If you want to be rated as a better risk always pay your bills on time.
    Last edited by shrubnose; 01-23-15 at 04:13 PM.

  10. #40
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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?
    One is obliged to fulfill any just contracts one has entered into in accordance with the civil law, unless excused by the other party.

    It is not morally wrong to take advantage of stipulations in the contract, or in the civil law in force at the time of the contract.

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