Personal bankruptcy can be the right choice if you're struggling with debt and don't see a way out. Personal bankruptcies help eliminate unsecured debts, giving you the opportunity to start fresh.
Things like student loans and taxes can't be discharged through bankruptcy in most cases. If those are the debts that are weighing you down most, you should look into other options that would allow you to pay them down.
Personal bankruptcies aren't as scary as they seem. You may be trying to avoid bankruptcy because you believe it will leave you with nothing, but that's not the case. Bankruptcies are designed to help you reduce what you owe but not to make you start from nothing. Instead, there are many exemptions in place that help you keep property, like a home or personal vehicle, so that you have the basics that you need as you move forward.
Bankruptcy courts know that forcing people to start with nothing would be a good way to get them back into debt very quickly. That's why the goal is to discharge unsecured debts after liquidating a fair number of assets. In some cases, you may lose little or nothing at all due to your income level and the number possessions that you own.
If you believe that bankruptcy might be a good choice for you, reach out to an experienced bankruptcy attorney. They can help you determine which type of bankruptcy you can qualify for and walk you through the application process. They can also help you with the steps needed to complete the bankruptcy in the shortest amount of time.