Uhm, I don't think that outcome is a bad thing at all. There should be very few and ideally no reasons you have to go into debt, except for high-value long-term

Uhm, I don't think that outcome is a bad thing at all. There should be very few and ideally no reasons you have to go into debt, except for high-value long-term purchases. And these are typically things that can sever as collateral (think houses, cars). Heck even computers and phones nowadays have significant resell value. Come to think of it, except for medical bills, I really don't know what an uncollateralized loan would be for and which I'd consider a net-positive. And before you come back to me with medical bills: Fix your health insurance system and that problem goes away...