As with most big decisions, there is no easy
answer to this question. If you owe more money than you can pay back, bankruptcy is one option,
but it should be a last resort. First, try to make arrangements with your
creditors, the people you owe money to. The bank, your dentist, the dry cleaner all want
to get paid, and want to keep you as a customer. Maybe they will accept a payment plan.
If you cannot work out arrangements, consider seeing an accredited, non-profit credit counselling
agency to help you negotiate with the creditors. If none of these steps work out, make an appointment
to see a Trustee in Bankruptcy. Most Trustees will provide a free consultation to help you
decide if bankruptcy is the right approach for you.