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People do not take responsibility for their debt. They run up large CC debt & miss payments; then negotiate a discount on their balance (or worse yet, PAY "credit counselor" to negotiate with the CC company). I know of one person, who had large balances on two different credit cards. After several months of missed payments, he called the bank to negotiate. The company reduced the debt by thousands of dollars. This person then called the other bank to reduce his balance on his second card. The bank said no, because he hadn't missed any payments yet. So what did the guy do? He started to skip payments in the hopes of the bank eventually reduce his balance. Any debt NOT paid by the purchaser is ultimately the responsibility of everyone else. Businesses are not going to "eat it".