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Failing to repay a loan is not theft. Generally the loan contract will provide for what will happen if the money is repaid and what will happen if the money is
by anonymoushn 14y ago
Failing to repay a loan is not theft. Generally the loan contract will provide for what will happen if the money is repaid and what will happen if the money is not repaid, and it is entirely up to the borrower to determine which happens.
- sveiss 14y agoNot theft, but entering into a loan contract with no intention of paying it back may be fraud.
- mikeash 14y agoHowever, assuming he didn't reveal his plan to avoid repayment, it is fraud.
- monochromatic 14y agoHe may well have committed fraud in what he told the banks though.