Debt and an Economic Collapse...

[SavageEagle]

Ok I have some questions that I can't seem to find any answers to.

Say you buy a new home, a new vehicle, have student loans, credit card debt, medical bills, etc. and the economy collapses. Total collapse. Dollar is worth ZERO and unemployment skyrockets. Some have predicted anywhere from 40-70% because, well, nobody knows what would happen job's wise if this happened.

What would happen to your debt? Surely it would still be there, but how would they collect? Could they kick you off your land, out of your home, repossess your vehicle, or take any other assets you may own?

What about all those stupid people that lease cars or people who are forced to rent? Renters obviously aren't all stupid. Some are forced to rent for whatever reason, but some people rent when they could afford to buy a home... I don't care about that, I just want to know if they'll be kicked out?

I hear a lot of this and that but wanted to get people's take on it on here. I don't think it would be right for them to repossess or try to collect on anything if your dollar is no longer worth anything. Maybe freeze all debt until the economy bounces back?

The way we're going that will only happen by selling Federal Assets to our debt owners but that's not my point. Yet.

I'm just curious and think this is something that should be discussed.