What's described in the article isn't the same. You shouldn't let financial institutions using this kind of coercion at will. You also shouldn't ostracize those people from society. If they committed a crime, enforce the punishment. Is it a fine? Jail time? Withholding a portion future wages? Do so. Shaming has no place in modern society.
The article also mentions they're not allowed to buy train tickets. How are they going to earn money and repay their debts if they are denied transportation (amongst "many" other things)? And finally, shouldn't we be shaming the financial institution for loaning money to individuals without any legal guarantees and no collateral? Aren't they the ones that should manage this risk? Aren't they the ones reaping benefits for this?
This is a very dangerous game to play. And I certainly don't like bunching up those who owe millions and can afford to pay back, and those who owe hundreds and are probably living in poverty. Keep the shaming for public figures, not private individuals.