Just stop paying your bills, and then negotiate a '20 cents on the dollar' payoff with any creditors. 'The 2008 Fire Sale on Homes, Cars, Boats and Everything Else,' as blessed by Congress and even some of the companies holding the secured and unsecured notes, themselves. C'mon. Don't be that sucker that actually pays the agreed upon, contractual price. Everyone's doing the 80% off thing.