Is it a good idea to file for bankruptcy really depends on your own personal situation. I would say yes if you have a lot of medical bills or things like that that there is just no possible way to get out of debt. But if you just have some credit cards that you have let pile up then I don't really think that bankruptcy is the best idea for you. Not to mention that if you don't have the ability to actually pay your bills then you will probably just find yourself in debt again. I would have to say that it is actually harder now to file for bankruptcy than it was in the past. But if you find yourself in a situation where you just can't handle the debt load it may be worth a try but I would do my best to pay all my bills. Good luck to you.

Bankruptcy should be an absolute last resort. At times it may feel like the easiest option but that doesn't mean it is the best option. I highly recommend reading Dave Ramsey's book The Total Money Makeover to help solve debt.