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No. of Recommendations: 12
This doesn't mean you should default lightly. You should understand the negative consequences of your default, and weigh them against your ability to repay. And then you should make a contractual choice in your best interest which has already been modeled and accounted for by the lender.

Now, if you borrow from a friend, or from a family which does not build in a risk premium, you are in a different position, and I would see this as less of a contractual issue and becoming more of a moral issue. At this point, you are leveraging your relationship which carries with it moral connotation.

You missed helping the OP justify away the fact that she is defaulting in her original obligations that were in place prior to the obligation that she is choosing to not default on.

I still say she is committing fraud because of that.

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