this post was submitted on 20 Jan 2024
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Work Reform

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[–] 314xel@lemmy.world 9 points 10 months ago* (last edited 10 months ago)

And I would add that if you are behind with your installments, creditors can only hunt you down for 50% of your income (subtracting any other credits you may have / owe), so you don't typically go bankrupt because of loans. Of course, for a mortgage, you do lose the house, but I'm talking about general loans so-called "for personal use".