The Basics: Bankruptcy as a Moral Choice
You usually DO have a moral obligation to pay your debts. But sometime you a have a higher moral obligation NOT to.
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What is a Debt Charge Off?
A charge off is an accounting entry used by creditors or lenders in their books to account for overdue, uncollected debts. Most debtors, when they see “charged off” on their credit report, assume the debt has been disregarded by the creditor and that they are no longer obliged to repay the debt. This is not…