View Poll Results: Do you think it's immoral to settle your debt for a smaller amount?

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  • Yes, always.

    5 10.87%
  • No, never.

    18 39.13%
  • It depends on if you can afford to pay it or not.

    16 34.78%
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    7 15.22%
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Thread: Is settling your debt for a smaller amount immoral?

  1. #1
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    Is settling your debt for a smaller amount immoral?

    I heard a commercial on the radio the other day about a debt settlement company. One of the scenarios was a guy who owed $30,000 in credit card debt and settled with $12,000. Do you think it's immoral to do this and not pay the entire amount?


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    Re: Is settling your debt for a smaller amount immoral?

    The IMF lets the developing world do it a lot lol.
    Don't tread on me= Don't tread on my corporate masters

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    Re: Is settling your debt for a smaller amount immoral?

    It depends. If the person is paying the actual debt and not ridicules interest rates, I don't see it as being out of line.
    Quote Originally Posted by Moot View Post
    Benjii likes the protests...he'd be largely irrelevant without them. So he needs to speak where he knows there will be protests against him and that makes him responsible for the protests.
    Quote Originally Posted by Absentglare View Post
    You can successfully wipe your ass with toilet paper, that doesn't mean that you should.

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    Re: Is settling your debt for a smaller amount immoral?

    .... since when did capitalists care about morality?
    I refuse to accept the view that mankind is so tragically bound to the starless midnight of racism and war that the bright daybreak of peace and brotherhood can never become a reality. - MLK

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    Re: Is settling your debt for a smaller amount immoral?

    There are many ways to look at it. I mean, the ideal is that everyone pays back what they owe. But if you're really swamped and can't make it out of the debt, the lenders tend to be willing to work with you to either come up with a payment plan or do knock some money off of what you owe. For them, something will be better than nothing. But if you are well able to pay it, then you should pay it back. If you try to haggle around because you don't want to pay back your loans (but have the means to do so), I would say that's probably immoral, equivalent almost to theft at that point.
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    Re: Is settling your debt for a smaller amount immoral?

    Quote Originally Posted by Hatuey View Post
    .... since when did capitalists care about morality?
    Bogus generalizing will get us no place.
    Quote Originally Posted by Moot View Post
    Benjii likes the protests...he'd be largely irrelevant without them. So he needs to speak where he knows there will be protests against him and that makes him responsible for the protests.
    Quote Originally Posted by Absentglare View Post
    You can successfully wipe your ass with toilet paper, that doesn't mean that you should.

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    Re: Is settling your debt for a smaller amount immoral?

    "Settling" your debts is fine because both parties agreed to change the terms of the agreement. Just not paying is not fine.
    Wow. Am I awesome or what?

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    Re: Is settling your debt for a smaller amount immoral?

    Quote Originally Posted by Hatuey View Post
    .... since when did capitalists care about morality?
    Since when did socialists?
    "He who does not think himself worth saving from poverty and ignorance by his own efforts, will hardly be thought worth the efforts of anybody else." -- Frederick Douglass, Self-Made Men (1872)
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    Re: Is settling your debt for a smaller amount immoral?

    Quote Originally Posted by American View Post
    Since when did socialists?
    Again bogus generalizing from EITHER side will get us no place.
    Quote Originally Posted by Moot View Post
    Benjii likes the protests...he'd be largely irrelevant without them. So he needs to speak where he knows there will be protests against him and that makes him responsible for the protests.
    Quote Originally Posted by Absentglare View Post
    You can successfully wipe your ass with toilet paper, that doesn't mean that you should.

  10. #10
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    Re: Is settling your debt for a smaller amount immoral?

    It depends on many things. Credit companies bear a responsibility for their relentless marketing too.

    I do find those type of ads offensive to my moral sensibilities, but the credit companies are predatory in my opinion, and lure people into irresponsible spending, so are partially to blame.

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