– Should there be a limit on how much debt a young person takes on?
Hi Jerry,I don’t think lenders are faultless! But a lot of people believe that if a lender gets a person to agree, this relieves the lender of any responsibility. After all–the borrower themself is in…
– Should there be a limit on how much debt a young person takes on?
Agreed that it is a self-inflicted wound. Part of what I want to convince people of is that the law should be unconcerned with self-inflicted wounds!
– Should there be a limit on how much debt a young person takes on?
Hi Wal,On the car: In some ways, a loan for a luxury automobile is much worse than a university degree. A fancy car that you run into the ground now will not open up opportunities to you in the future…
– Should there be a limit on how much debt a young person takes on?
Hi Diane,On starting a business: Generally, the individual isn’t responsible for the debt associated with their LLC (there are some exceptions to this, but this is roughly right). So it’s the business…
– Should there be a limit on how much debt a young person takes on?
Young people might take on a lot of debt without considering its consequences for their older years. A philosopher makes a case for laws to limit that debt as a duty toward self.
