Opting Out Of Debt

December 13th, 2012
debt, occupy_boston
A quaker friend invited me to a strike debt event:
This event is for everyone with debt, who hates debt, who understands enslavement by debt and wants to end it. To prepare for this meeting, background and study materials are at: strikedebt.org.
Which got me thinking: you can opt out of debt. Even if you already have lots. If you feel enslaved by it and want to remove yourself from the debt system, you can go through bankruptcy and have your debts forgiven. [1] The downside is that people won't lend to you in the future, but that's not a problem if you're opting out.


[1] A few categories of debt survive bankruptcy: child support, student loans, some taxes. People with them can't fully opt out of the debt system. This seems bad: in as much as bankruptcy is important for helping people get back on their feet I don't see why these categories should be special.

Comment via: google plus, facebook

Recent posts on blogs I like:

Facts I Learned From A City On Mars

Space bastardry!

via Thing of Things April 14, 2025

Which Came First, the Chicken or the Egg?

When I thought about this question it was really hard to figure out because the way it's phrased it's essentially either a chicken just pops into existence, or an egg just pops into existence, without any parent animals involved. I thought about t…

via Lily Wise's Blog Posts April 13, 2025

Advice for time management as a manager

have accurate expectations of yourself • prioritize ruthlessly • unemploy your future self • a five-step “help, I’m overwhelmed” checklist • carve out focused time

via benkuhn.net April 1, 2025

more     (via openring)