> The US has relatively generous bankruptcy laws. Many people go through bankruptcy and rebuild their credit over several years. It’s like saying that you don’

> The US has relatively generous bankruptcy laws. Many people go through bankruptcy and rebuild their credit over several years. It’s like saying that you don’t need seatbelts in the car, because you have good medical insurance. USA obsession with credit is the root cause of the issue, and relatively generous bankruptcy laws are a smoke gun to keep the show going and make people comfortable with a system rigged against them. Credit makes a lot of money for a lot of companies, and risk of customers bankruptcy is just a cost of business for them, designed carefully to ensure they still end up making money.