You suddenly lose your job, and thus cant meet your monthly payments.
You get hit by a bus, your legs get amputated, and thus cant meet your paymentd.
You have a family member who is dieing and needs you at their side. You take another 16k out to support yourself while you look after them. Then you lose your job and cant meet payments.
There are a million unexpected things in life that can happen for you to not be able to meet your payments. And it has nothing to do with "herp herp i cant balance my outgoings against my income".