4 ms·

well.. when individuals lose a court battle, they owe the winning party money from their future earnings, in case their current balance does not cover the sum o

well.. when individuals lose a court battle, they owe the winning party money from their future earnings, in case their current balance does not cover the sum owed. Why don't they make companies do that. It would only seem fair for the amount of damage they did :|

garmaine 7y ago
Because they would just go out of business and the debt would disappear.
- zonidjan 7y ago
  Debts don't simply "disappear" because a company goes out of business. And there already exist nondischargeable debts (like "criminal penalties, fines, and restitution", or "willful and malicious injury caused by debtor", both of which should apply here).
  - dragonwriter 7y ago
    > Debts don't simply "disappear" because a company goes out of business Yes, they basically do, if it's a limited liability entity (LLC, Corp, etc.) absent the special conditions being met for piercing the corporate veil. > And there already exist nondischargeable debts That effects bankruptcy, not termination of the entity with exhaustion of assets leaving unresolved debt. Just like death or individual whose estate is entirely consumed leaving unpaid debt, if no one else is legally liable for the specific debt, it dies with the debtor.
    - deleted 7y ago
      [deleted]
- mikecarlton 7y ago
  I would be quite fine with them going out of business -- I never chose to do business with them. Other businesses would pay a lot of more attention if this were to happen a few times.
  - garmaine 7y ago
    I agree with your sentiment. However if they declared bankruptcy then the class action filers would get nothing at all. That’s objectively only better if you’re spiteful.
dragonwriter 7y ago
They do; Experian didn't lose, they made a deal, and that deal limits their potential downside on this point quite sharply.
panny 7y ago
Equifax was hacked by Chinese state sponsored hackers. https://republicans-oversight.house.gov/wp-content/uploads/2018/12/Equifax-Report.pdf https://republicans-oversight.house.gov/wp-content/uploads/2... Why don't we send the bill to China and make them pay it?

garmaine 7y ago

Because they would just go out of business and the debt would disappear.

zonidjan 7y ago
Debts don't simply "disappear" because a company goes out of business. And there already exist nondischargeable debts (like "criminal penalties, fines, and restitution", or "willful and malicious injury caused by debtor", both of which should apply here).
- dragonwriter 7y ago
  > Debts don't simply "disappear" because a company goes out of business Yes, they basically do, if it's a limited liability entity (LLC, Corp, etc.) absent the special conditions being met for piercing the corporate veil. > And there already exist nondischargeable debts That effects bankruptcy, not termination of the entity with exhaustion of assets leaving unresolved debt. Just like death or individual whose estate is entirely consumed leaving unpaid debt, if no one else is legally liable for the specific debt, it dies with the debtor.
  - deleted 7y ago
    [deleted]
mikecarlton 7y ago
I would be quite fine with them going out of business -- I never chose to do business with them. Other businesses would pay a lot of more attention if this were to happen a few times.
- garmaine 7y ago
  I agree with your sentiment. However if they declared bankruptcy then the class action filers would get nothing at all. That’s objectively only better if you’re spiteful.

dragonwriter 7y ago

They do; Experian didn't lose, they made a deal, and that deal limits their potential downside on this point quite sharply.

panny 7y ago

Equifax was hacked by Chinese state sponsored hackers. https://republicans-oversight.house.gov/wp-content/uploads/2018/12/Equifax-Report.pdf https://republicans-oversight.house.gov/wp-content/uploads/2... Why don't we send the bill to China and make them pay it?