Jacob Lund Fisker: Debt Owned

Posted by admin on Friday, July 7, 2023

Meaning of Jacob Lund Fisker Money Quote: saying If in debt, you are owned by that debt and the creditor. Jacob Lund Fisker said:

 

 

“If you have debt, you’re not a free person. You’re explicitly owned by your debt and implicitly owned by the creditor” — Jacob Lund Fisker

 

 

Jacob Lund Fisker is suggesting that having debt, especially significant debt, can compromise one’s freedom and independence. By owing money to creditors, the debtor is “explicitly owned” by the debt in that they are obligated to repay it.

They are also “implicitly owned” by the creditor, in that the creditor has power and influence over the debtor through their owed debt. Fisker’s view is that being in debt means one is no longer fully in control of their own decisions and finances, since paying back creditors must now be a priority.

He sees debt as limiting one’s autonomy and ability to freely choose their own path without obligation to others.

Categories: debt Tagged:creditordebtJakob fiskerowned