Bankruptcy is nothing more than a fresh financial start. It is designed to help those who are in debt beyond a reasonable means to repay.
The law states that a person is entitled to start over financially so long as they have not been dishonest in getting into debt. Bankruptcy will wipe out all of your unsecured debts and let you keep most, if not all, of your property.
People get in over their head financially for many reasons: loss of employment, cut in hours or pay, business failure. Most people would avoid bankruptcy if they could, but like many things in life, sometimes bankruptcy just cannot be avoided.
While it is not easy to make the decision to file bankruptcy, you will survive. Over one million Americans survive bankruptcy every year.