Forgiven debt, even business' forgiven debt, is income.
Of course, there are bankruptcy laws (Written by both parties)
Then there are the commercials all the time about getting out of tax debts - pennies on the dollar.
So, don't pay your bills that you agreed to pay.
Then, when it's considered income and you have to pay tax on it, don't.
Then, pay pennies on the dollar on the tax you owe.
All people have the opportunity to try to get money, not pay it back, and get off of paying it.
It's the American way.