Considering bankruptcy is a huge step for most people. It can be a real blow to your self esteem, it can make you feel like a failure, it can ruin your credit and your ability to borrow. For most people, filing for personal bankruptcy is a last resort, so by the time you realize that bankruptcy is your only option, it makes you feel that you've failed at everything else and are left with no other choice. The fact is though that you nearly always have alternatives to bankruptcy, but also that bankruptcy may be necessary for you to survive and move on financially. Read more »