As implied in another comment, the real solution is one people don't want to consider - forbid people from taking debt on in certain circumstances.

But this immediately appears as "unfair" even if predatory lending is a huge problem.

Meanwhile those who already have some money wouldn't be affected by it much, for example, a law requiring all credit cards that charge interest on balances to be secured ones (where if you have a $1k credit line you must have $1k cash/cash equivalent in the bank).

I don't think anyone is arguing that debt can't be another tool in the toolbox, but when you consider that the debt/equity ratio has risen considerably since the second half of the 20th century, you start to get the sense that this is somewhat "centrally" planned.