And without collateral you clearly can't loan to everyone because this is what happens: Borrow money at 1000% interest Don't make any payments. What are they

And without collateral you clearly can't loan to everyone because this is what happens: Borrow money at 1000% interest Don't make any payments. What are they going to do? Sue me? I can't pay, I'm in debt. Hookers and blow for everyone. Borrow more money at 1000% interest. They can't say no!!! Debt for everyone!! Make Payments? Lol. Borrow more money. Don't make payments. Borrow more money. Don't make payments. Continue on forever. It's a money spigot. Nobody would be willing to lend to anyone in this situation without serious collateral and only at very high rates and limited to low risk loans. Reinstituting debtors prison would be the only fix for this problem. And that's 10000 times more oppressive than credit scores. Don't lend to people in debt? Congratulations, now you're back to credit scores!