Perhaps it is questionably moral and risky, but why should it be any more so than a corporation filing for bankruptcy? The difference is that bankruptcies are, to some extent, priced into the system. If they weren't and if personal bankruptcies, for example, weren't allowed, we'd see problems with personal and housing loan underwriting standards dropping to the level of students loans. It's no coincidence that there has been a strong push towards making all personal loans exempt from bankruptcy. Being setup to fail is profitable.

So how do you change things? You can change the rules of the game, but the rulemakers are tight with the gamemakers. You can refuse to play, but playing the game is seen as the only way out for many. Or you can refuse to pay and break the game permanently. I don't advocate any particular approach, but I understand those who do.