On Wed, Oct 20, 2010 at 10:00 AM, Nick Arnett <nick.arn...@gmail.com> wrote: > It was not an easy decision to seek a loan modification. But the > ethics of it are not as black-and-white as you say.
It absolutely is that simple. A honest, responsible person does not make an agreement and then refuse to honor it. An honest person admits that they made the agreement of their own free will, a responsible person accepts the consequences of their actions, and an honorable person does everything in their power to keep their word. > The question would be black-and-white if the lenders had behaved ethically > and honestly, but I think it is obvious to everyone at this point that they > did not. In what way did the lender fail to honestly keep the agreement you made with them? Did they attempt to charge a higher interest rate than was agreed to? No. Did they say that you borrowed more than you actually did? No. Did they charge an illegal interest rate? No. Did they send someone to break your legs because you missed a payment? No. Your lender obviously does not fit the legal definition of a loan shark. And it sounds like they are only trying to get the money back that they lent you, and that you voluntarily agreed to pay back to them. > The idea that a person has a moral obligation to pay back a loan shark > on the loan shark's terms is ridiculous. Only if you consider honesty and keeping your word to be ridiculous. An honorable person would not agree to borrow money from anyone, even a loan shark, if they thought that there was any possibility that they would not be able to honor their agreement and pay back the money that they borrowed. _______________________________________________ http://box535.bluehost.com/mailman/listinfo/brin-l_mccmedia.com
