Daily Self Reliance

Today I find myself wondering about the effects of having debt in a time of economic collapse. Though being out of debt is a good thing, what happens to that debt in economic collapse. So here is my question and the purpose for this thread. What would actually happen to some one who had debt and bad credit if the economy collapsed. Would they loose their home? Would something more than that happen. I'm thinking that they would loose their home and possibly their belongings, but would that be the end of it or would they be looking at jail time. So Im interested in your thoughts.