Taking out a loan (credit) is a contract between the lender and the borrower. If I take out a loan, the lender performed their part of the contract. It is up to me to perform my part of the deal.
I cannot speak to the ultimate legality of this.
Plenty of people default on loans. We all pay for that. Just like tax deadbeats; the costs are still incurred.
Personally, I sleep very well knowing I have zero debt.
Again, some people seem to say, "It's my right" while others say, "It's my responsibility."