Many people do not realize they are too far in debt until it is too late. Generally speaking, if you are only able to make minimum monthly payments on your credit cards while continuing to use them to buy things, you likely have too much debt. Additional indicators are not being able to keep money in the bank for emergencies, making late payments to creditors, and bouncing checks. If you are experiencing any of these then you likely have more debt than you can afford and bankruptcy will likely provide you with a great deal of relief.