Others may be telling you how easy and painless bankruptcy is. Here is a more realistic picture. Think about these point before taking that step. People who file bankruptcy may have a tougher time finding housing. Landlords view them as bad risks because of the bankruptcy on their record.
Employers can pull credit reports before hiring a new employee.
Insurance companies sometimes raise rates for people who have gone bankrupt, viewing them as bigger risks for filing claims. Getting a future loan may be difficult or require paying much higher interest rates. Unfortunately, some credit card issuers are all too eager to reissue cards because they know bankrupts can't file for bankruptcy again for six years. So you might get a credit card, but unless your credit usage habits change, you'll end up back in deep debt trouble. Those who declare bankruptcy often face consequences when applying for future credit union services.