We never had extra cash to purchase gold or silver. We had to use most of our retirement savings for a life-threatening medical situation for one of our children (after we retired) and haven't (and won't) be able to build it back better (or at all actually).
Sucks, but we can make it - not including debt payments.
My house is paid off and I have zero debt. On the flip side, I've always lived fairly meagerly and have never spent money on expensive cars, vacations, luxury items, etc.
Seeing people who are financially irresponsible get a free pass to start over would be an insult to those of us who spent a lifetime sacrificing so that we could live within our means.
I am the same. Debt free because my wife and I choose to live way below our means.
I think it would be fair to tell people with debt that they must pay back what they borrowed over a certain amount of time without interest. Or maybe everybody is given the same amount but those in debt much pay the debt first. I really don't like that idea but it is better than screwing over the people that were responsible with their funds.
That's what I'm saying... I feel the same way about families that are whippin a 15+ year old hoopty while paying full tuition...It wouldn't be right.