Totally fair, I was also thinking of this kind of claim in "An-capistan" without a state enforcing bankruptcy as an option. The imagined regulatory environment

Totally fair, I was also thinking of this kind of claim in "An-capistan" without a state enforcing bankruptcy as an option. The imagined regulatory environment is critical to how we think about his kind of thing. I do think you underestimate how accessible bankruptcy is for most people who are served by payday lenders.The folks I know who are forced into that market aren't well educated, and may not even know where to begin. I find that they view bankruptcy as a way "fat cats like Trump get out of the debts while working stiffs have to pay" As a tool it's really only available to middle and upper-middle class Americans.