When questioned by someone whether "Should I ever file bankruptcy," the experts and pundits offer different advice. Bankruptcy is the legal process through which individuals try to obtain relief from debt. To be bankrupt is to admit you can no longer support the debt load you now carry. It means you can no longer pay your bills. If I am insolvent and can not see any chance of recovery no matter how much I work or make, should I file bankruptcy? The answer in many cases is "YES." If I have no other options, I should file for bankruptcy. If, however, I can find another legal way out of my financial situation should I file for bankruptcy anyway? The answer is no. Bankruptcy is a last resort for those heavily in debt with no chance of escape. In the United States, many are forced to consider this question after unforseen medical expenses, combine with such things as unemployment, excessive credit card debt and even divorce.