Collapse is a harsh concept.
More likely, the .gov, bankers, businesses and such will all come to a general consensus.

Suspend all payments/bills for a fixed period. (Credit Card, power/gas, phone, etc)
No power cutoffs, no job losses, etc.
Everything continues, just with a pause in payments.
Food stamp cards for those who don’t have the cash to buy groceries. Basically just exchange the card balance/purchases against yearly taxes to keep it simple for the stores.

What good would this do?
While the power companies would lose out temporarily, they get to keep their customers and eventually get paid again. Banks? No foreclosures, means the money keeps coming in, they get a much needed PR victory and get to keep the doors open. Mortgages just get extended, no real loss to the banks. Rental properties, again no kicking people out and everything continues when “life” resumes.
And so on.

It could be that simple.
And may have to be, if it comes to pass.