For many people, the problem is they are owed by some huge corporations, it's not like when it comes to debts your friend is exactly more credible than some huge corporations. Also, if the debts can only be exchanged between friends, why not just go buying bitcoins from them with cash/bank transfer?(especially the assumption here is you already trust them)


Does that mean I have to have some bitcoins before I can trade? That doesn't sound really ideal.


Exchanges are designed to facilitate trades between strangers, especially when it comes to large amount trading. Also there are other alternatives, but nobody pays attention.