Bankruptcy is Theft

In today's culture, when people get so insanely far into debt that they have no hope of ever repaying their loans, they are encouraged to file for bankruptcy. When one succeeds in doing so, all debts and contracts are destroying, producing a new credit score. That sounds pretty nice, but...

It is, essentially, theft. The process of bankruptcy causes the money that the creditors gave to be simply destroyed. Nobody will ever give that money again. The money that would eventually be passed around, or used as interest to pay for the user of money, is withheld from whoever economics would eventually give it to. So, bankruptcy is theft from not only the creditors, but from inventors who could have used it to better the world.