You have never been poor have you? I can guarantee you that it is not that easy.

Having assets and credit are too very different things. And forcing some one in to poor credit can affect them for decades. Making it difficult or impossible to do simple things like have a bank or finding a place to rent. That is why it is called a cycle of poverty. Once you get the label of poor. It can be very hard to remove that label even if you are hardworking and have a stable job. Live become more expensive making it even harder to get out of poverty.

Plus if you think bankruptcy is an easy or quick process. I hope you never have to go through it.