What is the morality of debt repudiation?

[fakename]

That is, should it be okay to just not pay debts or perhaps should it be okay to negotiate debts down?

I think both scenarios are plainly stealing but sometimes you can forgo your rights voluntarily as long as they aren’t inalienable. I was wondering, what you think -do my conclusions seem probable or is there something I’m missing out on?

 

[ANNE_2]

CCC - " 2410 Promises must be kept and contracts strictly observed to the extent that the commitments made in them are morally just.
A significant part of economic and social life depends on the honoring of contracts between physical or moral persons - commercial contracts of purchase or sale, rental or labor contracts.
All contracts must be agreed to and executed in good faith."

That being said, provided both parties agree to change a contract, there is nothing wrong with that, and this is not considered “stealing”.

 

[valentino]

That is, should it be okay to just not pay debts or perhaps should it be okay to negotiate debts down?

I think both scenarios are plainly stealing but sometimes you can forgo your rights voluntarily as long as they aren’t inalienable. I was wondering, what you think -do my conclusions seem probable or is there something I’m missing out on?

One is obliged to pay debts.If one is unable to pay back for one reason or another he should make restitution in some way.If the lender allows you to renegotiate you may.

 

[Lainey63]

Negotiating debts is a fairly common practice and there’s nothing wrong with it. The down side could be a bad mark on one’s credit report. But if one needs help a good place to go is Consumer Credit Services, it’s free and sometimes they help to stop all the interest and penalty fees accruing. Usually it’s the late fees and over limit fees that really bury people and make it almost impossible to make a dent in the debt