Re:The Student Debt Problem Is Worse Than We Imagined
by chriswarbo on Monday August 27, 2018 @06:06AM
(#17850489)
You're describing the difference between unsecured and secured loans. The parent explicitly stated that they were talking about unsecured loans (where there's no tangible thing to repossess).
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Re:The Student Debt Problem Is Worse Than We Imagined
by mrep on Monday August 27, 2018 @10:16AM
(#17851595)
Oh wow, reading more into it, some credit cards are actually unsecured (but some aren't [0]). However, credit card companies can still sue you even if it is an unsecured loan and then repossess some of your stuff depending on the state [1].
[0]: https://www.nerdwallet.com/blog/credit-cards/credit-card-bil...