Your regular reminder that debt bondage is a form of slavery, and is illegal in most countries.

https://en.wikipedia.org/wiki/Debt_bondage

There are only two options with debt: bad debt are written off, lender takes a hit and the lender must be careful who they lend money to.

Or bad debt lingers forever and accrues lucrative interest, in which case giving out bad debt is the whole point for the lender’s operation. The only risk is that the debtor might die. If the debt also passes to the next of kin, you have full-on, real slavery.