Paul on Nostr: sorry, I could use some help understanding this: They’re still loans with interest, ...
sorry, I could use some help understanding this:
They’re still loans with interest, that he’s on the hook for paying, right? The worst case scenario is he declares bankruptcy, but isn’t the second worst case scenario is he just pays off the loans to the banks that loaned him the money? Or is everything much more awful and rigged than that? I’m sure it is, but my only frame of reference in borrowing large* amounts of money is trying to get a bank to buy a house in my name.
They’re still loans with interest, that he’s on the hook for paying, right? The worst case scenario is he declares bankruptcy, but isn’t the second worst case scenario is he just pays off the loans to the banks that loaned him the money? Or is everything much more awful and rigged than that? I’m sure it is, but my only frame of reference in borrowing large* amounts of money is trying to get a bank to buy a house in my name.