> ...even though financial institutions are wanting to saddle the average consumer with more debt.
This isn't a rebuttal to your comment specifically, but it illustrates perfectly why bankruptcy ought to be easier and apply to more categories of debt. A lender operates on risk assessment. If provided lending categories where they can saddle debtors with obligation that follows them to their grave, the risk drops significantly. Thefore, in a poor lending market, lenders will gravitate toward lending categories with low risk.
This isn't a rebuttal to your comment specifically, but it illustrates perfectly why bankruptcy ought to be easier and apply to more categories of debt. A lender operates on risk assessment. If provided lending categories where they can saddle debtors with obligation that follows them to their grave, the risk drops significantly. Thefore, in a poor lending market, lenders will gravitate toward lending categories with low risk.