1. If someone has catastrophic medical needs that result in huge bills then I completely understand that such person would potentially need to declare bankruptcy. This is not a failing of the person, but a failing of the U.S. health insurance and social welfare system.
2. For credit card debt, I can understand settling for a reduced payment IF the balance has ballooned because of compound interest and repeated late fees. The person should at least pay back the amount of goods and services that were charged plus a reasonable interest rate.
3. The West does not have a moral obligation to cancel third world debt. If by 'the West' you are referring largely to the U.S., we need to work on our own national debt situation first.
4. What makes repaying debts moral? Not doing otherwise, is the same as STEALING.
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