Carefully examine your financial targets before you pull the bankruptcy trigger.  While bankruptcy often takes care of immediate debts (and usually stops foreclosure), it has long-term consequences.  It may fix present problems, but create problems for your future in terms of your credit scoreBankruptcy tends to limit more severely your ability to get a loan for a house, a car, or an education.

Bankruptcy carries long-term consequences you need to know and understand before you file.  While it is a drastic measure, bankruptcy could be the deep beginning to financial recovery.

To learn more about the basics of bankruptcy, the US Courts has a collection of short films online for free to give you general information at http://www.uscourts.gov/multimedia/videos.aspxTalk to your attorney about the specifics of your situation to help you decide if bankruptcy is right for you.