I think we should recognize that power imbalances exist and that some private contracts are very exploitative, and are thus not entirely voluntary.
There should always be an option to declare bankruptcy and start over (unless you were guilty of a crime, which is a debt you shouldn't be able to dodge).
For example, if someone decided to enter a slavery contract, they could always later declare bankruptcy and default and start over. However, an employment contract of 1-10 years probably would be treated differently.
Therefore using government to correct them is somehow immoral? Not sure how that follows (or if not that, what you are attempting to say here).