You're out of luck. That's why we are so reliant on the credit reporting agencies. There is some recourse if you already own assets. There are two types of loan

You're out of luck. That's why we are so reliant on the credit reporting agencies. There is some recourse if you already own assets. There are two types of loans. Secured and unsecured loans. Secured loans are backed by assets and those certainly can be forcibly removed. Unsecured loans (the vast majority of smaller credit card type loans), have no backing and the lost money is generally understood to be recovered through interest payments.