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Home > Money & Services > Banking   »   Depression

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Old Feb 5, 2008, 06:02 PM
joshua1215
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if theres a recession or depression ?
if the world developes a recession or depression , what would happen to the belongings people owe money on?

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Old Feb 5, 2008, 06:03 PM   #2  
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If the people lose their jobs, they won't have the money to pay the bill.
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Old Feb 5, 2008, 06:03 PM   #3  
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Welcome to the Desk....
You should move your question to the appropriate forum to get some other responses.
You are currently posting a question in introductions....
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Old Feb 5, 2008, 06:13 PM   #4  
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If the person owes money and can't pay, the bank would take it back and resell it for what they could get out of it. This happened to my great grand parents during the depression in the early 1930's and the lost a large farm.
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Old Feb 5, 2008, 06:15 PM   #5  
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Welcome To You

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"People will forget what you said, people will forget what you did,
but people will never forget how you made them feel."
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Old Feb 5, 2008, 06:44 PM   #6  
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I have moved your post from the introduction area. You can go back and introduce yourself latter.

Banks take it back, foreclose on houses, repo cars and so on.
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