Did Tim assume Debt Forgiveness?

 

Another possibility in uncovering Tim's unreturned 2001-2 Tokyo deposit is that he assumed his three former roommates had formally proclaimed Debt Forgiveness of this deposit. Let's explore this point in more detail.

First, what is "Debt Forgiveness?" According to WiseGeek, it "is the process of writing off all or a portion of a debtor’s outstanding debt. Forgiving debt may take place in order to minimize the amount of loss incurred by a lender due to defaults. The process has also been used to help bolster the economy of a nation by other countries choosing to write off debt associated with resources borrowed in years past." This is also known as "Debt Relief,"or "the partial or total forgiveness of debt, or the slowing or stopping of debt growth, owed by individuals, corporations, or nations. From antiquity through the 19th century, it refers to domestic debts, in particular agricultural debts and freeing of debt slaves. In the late 20th century, it came to refer primarily to Third World debt, which started exploding with the Latin American debt crisis (Mexico 1982, etc.). In the early 21st century, it is of increased applicability to individuals in developed countries, due to credit bubbles and housing bubbles."

However, Tim's three former roommates at no time even suggested  the idea of Debt Forgiveness (or Debt Relief), let alone to formally issue such a protocol stipulating this was in effect. Indeed, on the last meeting with Tim in 2010 at a Japanese public bath, Tim actively reminded the three about the owed money and diligently collected their postal addresses so as to send it. Such a conversation would in no way suggest a policy of Debt Forgiveness had been either granted or assumed.

Secondly, there is no reason one can find for mandating Debt Forgiveness (or Debt Relief). The rooming situation in southern Tokyo has no relation to past slavery, abuse, genocide, housing (or credit) bubbles, or economic disparity between richer and poor nations, where the term is more commonly used. Tim had no more pressing needs to the roughly US $3000 (see here) than his other three contemporaries, so it does not make any sense that he would assume or seek Debt Forgiveness (or Debt Relief).