Debts resulting from lawsuits for intentional injury to persons or property. Money you owe for illegal debts such as bounced checks. Debts resulting from fraud or misrepresentation such as false information on a credit application. Legal fees and related costs. You must pay these fees up front and in cash.
Bankruptcy often causes lingering feelings of guilt and failure even years afterwards.
Some bankrupt individuals even reaffirm and repay debts that have already been discharged. If you have nothing to lose, you probably do not need bankruptcy protection. You won't need to file since your creditors will not be able to recoup losses regardless of what they do. Or freeze your credit cards in an ice cube tray in your freezer. Promise yourself to leave them there until you are debt free.