Has the era of "plastic money" about to come to an end?

Plastic money, alias credit cards, are ruining people’s lives. $500,000.00 dollars just in one bankruptcy day tells the story. What about a period of “forgive and forget”? To end the use of credit cards and writeoff everyone’s balance? The Federal Government could allow tax credits for merchant’s loses. Clear the slate and start over clean. This time, a person’s hand and fingerprints would be used at ATM’s, instead of a plastic card for bank transactions. This would be a win-win situation for everyone and a boost to America’s economy. Question: Has the era of “plastic money” about to come to an end?