Opting Out Of Debt

December 13th, 2012
debt, occupy_boston
A quaker friend invited me to a strike debt event:
This event is for everyone with debt, who hates debt, who understands enslavement by debt and wants to end it. To prepare for this meeting, background and study materials are at: strikedebt.org.
Which got me thinking: you can opt out of debt. Even if you already have lots. If you feel enslaved by it and want to remove yourself from the debt system, you can go through bankruptcy and have your debts forgiven. [1] The downside is that people won't lend to you in the future, but that's not a problem if you're opting out.


[1] A few categories of debt survive bankruptcy: child support, student loans, some taxes. People with them can't fully opt out of the debt system. This seems bad: in as much as bankruptcy is important for helping people get back on their feet I don't see why these categories should be special.

Comment via: google plus, facebook, substack

Recent posts on blogs I like:

How to Make a Christmas Wreath

Yesterday, I made a Christmas wreath. Here's how to make one. First, find an evergreen tree near your house. Clip off a few branches from the tree. Try to have as many leaves or needles on the branches as possible. Next, bring them home. What I usu…

via Anna Wise's Blog Posts December 6, 2025

Live with Linch

A recording from Ozy Brennan and Linch's live video

via Thing of Things December 5, 2025

Against the Teapot Hold in Contra Dancing

The teapot hold is the most dangerous common contra dancing figure, so I’ve been avoiding it. The teapot hold, sometimes called a "courtesy turn hold,” requires one dancer to connect with their hand behind their back. When I realized I could avoid put…

via Emma Azelborn August 25, 2025

more     (via openring)