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Originally Posted by GGG
I agree on rent.
But most debt default is the fault of bad lending decisions. Think about how easy it is to get a loan for anything, credit cards, washing machine, furniture, hot tubs, etc. These loans are made on having x amount default. And Visa makes interest money up until the point of default.
I think the current debt model relies on people making bad choices so we shouldn't heavily penalize them for doing what the system has designed for them to do. So in general the creditor shouldn't be lending out money to people who have a high likelihood of defaulting. Instead we have creditors pursuing high risk people to get them hooked taking as much out of them until they default.
Just look at the pay day loan industry
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The system does not make people make poor decisions. The only person at fault in the situation of a loan that will eventually be defaulted on is the person seeking it. If they used a bit of critical thinking, they wouldn't be applying for a loan they can't afford in the first place.
The biggest area that needs reform is the tenant laws regarding non-payment of rent. As it stands now, I can not pay my rent and once the landlord threatens to evict, I an just pay the rent and stay. I can keep doing this until the landlord spends time and money to go to court and maybe get a judgemebt that is hard to enforce.
It needs to be rewritten so that it allows an eviction notice to be issued after 7 days of non-payment and that notice can only be withdrawn by the landlord, otherwise the locks can be changed 14 days after the notice is posted. Then use the criminal court to deal with the people who destroy properties on their way out.