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In many countries, particularly European ones, knowingly giving loans to people you know will be unable to pay you back or are unable to handle money responsibl
by chmod775 9y ago
In many countries, particularly European ones, knowingly giving loans to people you know will be unable to pay you back or are unable to handle money responsibly due to a medical condition, is basically handing out free money.
The moment a court hears of it ALL your claims against that person will be forfeit and the blame will lie squarely with you. I'd be surprised if Canada/US doesn't have similar provisions.
- pavel_lishin 9y agoIt might, but I would wager that making it to court isn't a cheap proposition - you'd likely need to retain an attorney, pay all sorts of fees, and even with a judgement against you, you now have to track down all of the places your debt has been sold off to, repair your credit history, etc. Not easy even if you're in full control of your mental faculties.
- geodel 9y agoWould courts cover Euro loans to Greece? I somehow thinks banks/lenders know It would difficult to get back but they went ahead anyway.