On Fri, 10 Oct 2008 15:26:17 GMT, John Anderton
wrote:
>On Fri, 10 Oct 2008 17:13:26 +0200, abelard
>wrote:
>
>>On Fri, 10 Oct 2008 14:51:42 GMT, John Anderton
>> wrote:
>>
>>
>>>As an aside, just how many people are there out there that think that
>>>an unsecured loan is one you don't have to pay back if you don't want
>>>to ? (which is what you seem, to me, to be implying an unsecured loan
>>>is) Why would *anyone* ever pay it back and why would anyone lend
>>>under those terms ?
>>
>>now now...i just feared someone would take that line.....
>>but i'm implying no such thing....
>
>But you seem, to me, to be implying that if someone doesn't keep up
>payments on an unsecured loan but has assets that could be sold to
>re-pay the loan, the lender shouldn't be able to take legal action to
>gain access to those assets. If that's not accurate, what are you
>saying should happen when somebody doesn't repay an unsecured loan but
>has assets ?
i've just been looking at a form subsequent to job's post....
it seems to me there are not 'unsecured' in any real meaning...
much worse...imv...they're not stating clearly just what the security
is....is it your earning power?...is it your stamp collection?
is it the pound of flesh nearest your heart?...is it your spare
kidney...or the equity in your house....or renting out 'your'
spare wife...or the baybee feed in your fridge...or your
fridge....
as you question me this looks more dubious......not less....
>>meanwhile i have in the back of my attic that homes have special
>> status in law...or did...
>
>Could be but I don't think so.
>
>
>>
>>if lawyers use words with highly non-standard meaning
>
>A secured loan is one which is secured on a specific asset (like a
>house). An unsecured loan is one which isn't secured on a specific
>asset. Is that really a highly non-standard meaning ?
imv yes...if you're dealing with the uneducated...
regards
--
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