Swimmingly. It apparently works swimmingly.[0]
Another idea that's worth investigating are coordinated payment strikes on leveraged companies that offer monthly services like telco companies. A bunch of their customers going "Oops, guess I can't afford to pay this month, gonna have to eat that 2% late fee next month, or maybe the month after that, or maybe the month after that" on a service that won't be disconnected in the first month could absolutely crush a company that requires that monthly income to pay their debt.
[0] https://jacobin.com/2022/05/mass-arbitration-mandatory-agree...