So what’s your solution? Someone borrows money and then doesn’t pay it back - do we shrug and say “oh well, I guess he doesn’t have to?” Without enforcement of collecting debts, the whole lending system breaks down. So what, you can only buy a house if you have the full cash price for it? That’s going to hurt everyone except the rich.
So what’s your solution? Someone borrows money and then doesn’t pay it back - do we shrug and say “oh well, I guess he doesn’t have to?” Without enforcement of collecting debts, the whole lending system breaks down. So what, you can only buy a house if you have the full cash price for it? That’s going to hurt everyone except the rich.
Stopping predatory lending and free healthcare will take care of most of it.
Those are important things to do, but we’ve had collections agencies way longer than either of those things have been a problem.