I’ve read a lot about how if you choose to not pay off your debt, it gets sold to a collection agency and then that there’s apparently no way for them to force you to pay it off. But I mean I doubt there’s no way that, that doesn’t impact you negatively. If it didn’t, everybody would not pay back mortgages, medical bills, etc. but if everyone did that, banks wouldn’t give out loans and hospitals would run to the ground if they got no money back, no? I’m kinda confused, how does this work?
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I forgot where I saw it, but there’s a convincing argument that Banks don’t want you to pay off the loans as it actually constitutes a withdrawal of money from the overall system to put things Back in Balance. While you’re in debt there is still theoretically twice as much money
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