Well, if you think undertaking collection action to collect unpaid debts is immoral then take your cash somewhere else. Cos that’s the business (largely).
The thing is there’s quite a bit of this immoral action occurring. Banks do it. Trade creditors do it. The ATO is one of the largest collection agencies. Just look the the bankruptcy and liquidation list in all the Federal Court registries.
Personally, I think if you’ve borrowed money and spent it of goods or services then you ought to pay it back. The thing is that there’s loads and loads of people who borrow money and then don’t want to. And don’t want any consequences like credit file history missed payment record. Or collection action. The answer is don’t borrow money then. .
CCP Price at posting:
$24.27 Sentiment: None Disclosure: Held
A personalised tool to help users track selected stocks. Delivering real-time notifications on price updates, announcements, and performance stats on each to help make informed investment decisions.
(20min delay)