Comment: So I imagine you'll be giving back all that stuff

Stuff you bought on credit and tearing up your diploma, right?

If you buy something, pay for it. The only wiggle room I can see is maybe with medical bills, because usually medical procedures are not optional. However, the vast majority of credit purchases are on optional things designed to maintain a standard of living you feel entitled to. A new car rather than used, a bigger house than you need, an 80,000 dollar art history degree, etc. the road to prosperity is not endless consumption. It is production and savings.