So if someone owes you money (a "debt" perhaps), but it's pretty clear that same someone won't be able to pay you and everyone else they owe --- what do you do?

So if someone owes you money (a "debt" perhaps), but it's pretty clear that same someone won't be able to pay you and everyone else they owe --- what do you do? I'm inclined to side with the other comment nearby: cutting payments to foreign creditors is easy, cutting payments to your own citizens is a disaster. Sure, there's this magic pixie dust of MMT, but with inflation already poking it's sharp edge into every day life, I doubt we can print our way back to prosperity.