Comment: If you feel bankruptcy is

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If you feel bankruptcy is

If you feel bankruptcy is okay then how about loaning me 20 grand and I won't have to pay you back?

A loan or contract should spell out all terms as well as how default is handled.... Maybe you wouldn't want to go as far as prison but, you may want me to back up the loan with say my house? Bottom line both parties agree upfront.

I imagine in a world of sound money we would not have so many loans. How did we get along before credit cards, school loans, and all the rest? Can you imagine actually having to work and save being denied instant gratification? Today that would mean getting out of high school and working 2 jobs for 5 years then going back to school. That would be far better than it works today. Out of high school right into a life long debt!