Originally Posted By: Pop_Rivit
Not worse than murder, but it's theft and it speaks volumes to a person's moral character. If you do decide to go into debt and choose not to pay it off then you've stolen something from someone else.
It's a matter of personal values-some people stand behind their word and pay their debts. Others don't.
It's all about business. In the ideal world people will all pay back their debt and get the same interest rate, but that's not reality. That's why we have a credit rating system and businesses that will take chances in junk debts and bonds too.
Look at the debt at national level, many nations devalue their currency to avoid paying back the same amount of debt too. Junk bond traders do the same as do businesses that have junk rated credit.
Not worse than murder, but it's theft and it speaks volumes to a person's moral character. If you do decide to go into debt and choose not to pay it off then you've stolen something from someone else.
It's a matter of personal values-some people stand behind their word and pay their debts. Others don't.
It's all about business. In the ideal world people will all pay back their debt and get the same interest rate, but that's not reality. That's why we have a credit rating system and businesses that will take chances in junk debts and bonds too.
Look at the debt at national level, many nations devalue their currency to avoid paying back the same amount of debt too. Junk bond traders do the same as do businesses that have junk rated credit.