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Post being replied to

If we go this direction, then we need to change how loans... by EricCartman

are issued.

These are unsecured loans, issued to people with zero collateral. The way that we make the loans work is to force repayment, and charge high rates of interest to cover non-performing loans.

If we insert default via BK into the mix, then we need to change the origination process. Or, people will need to post collateral to obtain a loan. Something would need to change to prevent people from taking out loans, then filing for BK. Sure, the judge can deny their petition, but what happens when borrowers find a sympathetic judge that pushes through discharge? Is this the best course of action?