Mountains of debt may seem insurmountable, but they can also fall quickly. Whether from medical bills, job loss, divorce or other circumstances, suddenly you're facing more debt than you can handle. Declaring bankruptcy could be what you need to get back on your feet and start over.
Getting in over your head with debt doesn't take much. An unexpected illness, death in the family or loss of a job could leave you a few weeks behind in income. That can easily snowball into a situation where you're facing creditor calls and unable to make payments on all of your obligations due to increased payment amounts, penalties, fees, fines and interest.
You were always good with money, but after a serious medical situation, you found yourself falling behind in debt. Now, you think there's no way out.
The decision to file bankruptcy is a big one, but it isn't going to be the last decision you have to make about the situation. Once you know that you need to do something about your finances and determine that bankruptcy is the answer, you will have to decide what type of bankruptcy to seek.