Its already tipping as defaults are at an all time high but thanks to the changes Bush passed in 06 you can't even get out of debt with bankruptcy and that REALLY needs to change
This is always something that has really bugged me. Why exactly is it someone's right to borrow money and then not pay it back? If you borrowed it, you should have to pay it back. It doesn't make any sense to allow people out from under their debts that they made the conscious decision to borrow. If you don't understand the total costs, how the lending and repayment processes work, or if you don't have any solid plans for living with that debt, you shouldn't be borrowing it. Period. I don't care if it's a mortgage, a car loan, a school loan, or even your neighbor's tools. Your borrowing choices and the repayments from those choices should always be your own responsibility.