All debt, whether public or private that is not paid off by the same generation is a scam on the next generation and beyond, a very unfair one. For this reason, debts shouldn't be allowed to exist for more than thirty years, and should not be allowed to be paid off by a new debt. So what should happen if a debt is not paid off in this time? It should be subject to foreclosure and/or bankruptcy proceedings, irrespective of whether the borrowers want to continue with the debt.
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[ 3.1 ms ] story [ 16.1 ms ] threadHilarious.