Challenges to these debts cannot be based on appeals to the letter of the law alone when the laws are biased in favor of creditors. There is, however, a legal principle for challenging otherwise legal debts: the principle of “odious debt.” Originally signifying debt incurred on behalf of a nation by its leaders that does not actually benefit the nation, the concept can be extended into a powerful tool for systemic change.
The post “Don’t Owe. Won’t Pay.” Everything You’ve Been Told About Debt Is Wrong appeared first on BSNEWS.
Related posts:
Source