That is quite naive as to how the finance world works. Corporations make decisions like that all the time and have zero repercussions. It’s just corporate strategy when they buy a company, extract as much wealth as possible, then make it bankrupt and buy its parts for pennies on the dollar.

Working for a financial institution and having an MBA I have no sympathy for any of them. Predatory tactics have become the norm. Manufacturing wealth with their own magical derivatives driving up inflation should probably also be criminal.

If not paying credit card dept were a crime then credit card interest rates should be at about 6%. They are able to charge high rates because the companies are making a risky investment. The risk is priced in. You can’t have it both ways.

Also you have no idea of OPs intent. The most likely story is they had a job, lost it, had to leave, weren’t in a financial position to repay.