People will be evicted, threatened by debtors, start violating stay-at-home orders, kill themselves. Where I come from, 2 years without income is no joke.
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I agree that it should be possible; try to freeze the whole entangled web of debts, ultimately the buck stops at the gov't, which can also choose to pause collection, and subsidize necessary things, like water/elec. And make it up in taxes later
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