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

Is there a moral obligation to repay money you borrow?


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Papa bull

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If you borrow money, do you feel there is a moral obligation to repay the money you borrowed?
 
Re: Are you morally obligated to repay a loan that you take?

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

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

If you borrow money, do you feel there is a moral obligation to repay the money you borrowed?

Only if you have not given the borrower collateral that you return in lieu of payment. A borrower should never be responsible for the loss a lender may sustain because they took insufficient collateral or the collateral has lost value. That is on them.
 
Re: Are you morally obligated to repay a loan that you take?

If you borrow money, do you feel there is a moral obligation to repay the money you borrowed?

Yes for so long as my situation allows me to repay it.
 
Re: Are you morally obligated to repay a loan that you take?

Only if you have not given the borrower collateral that you return in lieu of payment.

LOL. That's what I figure most lefties would say. "screw 'em, let them keep the house (or car or TV or furniture) since it isn't worth what I paid for it".
 
Re: Are you morally obligated to repay a loan that you take?

Yes for so long as my situation allows me to repay it.

Agreed. If it's truly impossible to repay, bankruptcy seems like a necessary evil.
 
Re: Are you morally obligated to repay a loan that you take?

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

If you borrow money, do you feel there is a moral obligation to repay the money you borrowed?

I would rephrase it that I am morally obligated to make the payments I agreed to when I took out the loan. Not quite the same thing, but close.
 
Re: Are you morally obligated to repay a loan that you take?

I'd say it's economically efficient and fiscally smart to repay loans, because of credit ratings and such, but I'm not so sure I'd call it a "moral obligation."
 
Re: Are you morally obligated to repay a loan that you take?

If you borrow money, do you feel there is a moral obligation to repay the money you borrowed?

Only if you respect yourself. Otherwise, lie, cheat and steal your way through- not like anyone will be surprised.
 
Re: Are you morally obligated to repay a loan that you take?

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.

Is that what he is trying to get at, government debt? Why can't people actually ask what they want to ask and instead try and ask about something else as if it was the same thing...
 
Re: Are you morally obligated to repay a loan that you take?

I'd say it's economically efficient and fiscally smart to repay loans, because of credit ratings and such, but I'm not so sure I'd call it a "moral obligation."

Do you not consider truthfulness a moral issue?
 
Re: Are you morally obligated to repay a loan that you take?

LOL. That's what I figure most lefties would say. "screw 'em, let them keep the house (or car or TV or furniture) since it isn't worth what I paid for it".

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

Is that what he is trying to get at, government debt? Why can't people actually ask what they want to ask and instead try and ask about something else as if it was the same thing...

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

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"?

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

Yes for so long as my situation allows me to repay it.

That is a good answer. You are morally obligated to try, but circumstances may arise that cause you to fail.
 
Re: Are you morally obligated to repay a loan that you take?

Only if you respect yourself. Otherwise, lie, cheat and steal your way through- not like anyone will be surprised.

Couldn't have said it better, myself. :) It's not surprising that people who lie, cheat and steal their way through life would see no problem with welshing on a loan.
 
Re: Are you morally obligated to repay a loan that you take?

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.

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

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

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

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

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.
 
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