In some situations, it is difficult to decide whether you should file for bankruptcy or not. Basically for this, you need to understand what bankruptcy can and cannot do for you. You first need to note down the options available to you - like pay for other debts or selling the home or any other options that can help you pay off the debt. After all these, you need to talk to the creditors.
It is always advisable to pay the debts than to go for filing bankruptcy since you will be in a more comfortable situations, when you are free from debts. Moreover for expelling debts, bankruptcy is not the best solution whatsoever. An instance of non-expelling debt is student loans. Here even the government would help to change the plan of the payment. Also it is to be considered what will be your credit score and you have to spend considerable amount of effort and time to rebuild that score.
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