When debt is overwhelming, the situation might make you feel like you don't have anywhere to turn. Most people who are drowning in debt do have the option to file for bankruptcy.
While bankruptcy is something that some people see as the easy way out, this isn't the case. Bankruptcy isn't defeat. It is simply realizing that you simply can't overcome your current financial situation and taking action to start anew. If you are thinking about filing for bankruptcy, make sure you remember these benefits.