Dealing with large amounts of debt is a difficult situation. While declaring bankruptcy can be an option to help people move on, many are reluctant to do so.
Being in debt is a horrible situation for anyone. Deciding whether to file bankruptcy is not any easier. Bankruptcy does offer a chance to move forward though. Some people considering bankruptcy are not aware that there are two types available: chapter 7 and chapter 13. Both types have pros and cons to weigh.