Re: legally required forgetting

On Sat, Apr 10, 2004 at 10:33:39AM -0700, Major Variola (ret) wrote:

Thanks for the distinction, however it still makes CC folks slaves of the State. Suppose Joe Badcredit finds a blank application and applies? The State then uses violence to coerce the CC into non-consensual transactions.

No. AIUI the CC company is not obligated by the state to offer joe any credit at all in response to his application. They may reject him based on his nonpayment twenty years later. They simply may not attempt to collect the old debt. Also, in practice, the people who aggregate such information from other creditors will have a hard time reporting on the old default. But you are not obligated to extend any credit that you do not wish to extend.