One more thing: any credit not repayed is reflected in the price of the products and services you pay for. So never feel indebted due to money. Love is the harder currency.

If you won't lose your house or anything, but it only affects your credit score, I wouldn't worry too much (though I wouldn't know if life is easy without cheap credit in the US).

You might even want to go to a more decent country. Just kidding.

If only there were more bankruptcies, any debt would just disappear. So actually you help people in need by bankruptcy: you're like Robin Hood!