[lbo-talk] Debt

[Wojtek S]

Jordan: "That's not 'debt forgiveness' -- that's simple foreclosure.
Clearly if the equity - debt is less than zero, you'd be hard pressed
to justify why you should take it over; but the debt won't be
*forgiven*, i.e., you won't get the house anyway. "

[WS:] I will if I pay the outstanding debt.  I may be willing to do so
for a number of reasons even if equity - debt < 0 , e.g. sentimental
or in an anticipation that the house will appreciate in value, etc.
But I am generally with you, although I am not sure how unsecured debt
is treated in civil law countries in such situations (i.e. they may
still use it as a claim against the estate, but I am not sure.)

By my point was somewhat different - to question the notion of
parent's debt being dumped on children automatically, whether they
agree to it or not.

-- 
Wojtek

"Modern conservatism is just a neoliberal gloss on medieval domination."