There are a several signs that indicate bankruptcy is probably your best or only financial option. These include when you actually have income but not enough income to pay for your basic need so you start to use a credit card to pay for your basic needs. Since you cant pay your basic needs you will not be able to pay it back the credit cards. You might also be late on all of your household necessary expenses so it is difficult to imagine that your situation will improve within the next year. In some instances you have a judgment against you that allows a creditor to take up to 25% of your paycheck each pay period – this can spell financial disaster – especially if you were having a difficult time making ends meet prior to the wage garnishment. Sometime you have huge medical expenses for a child or other family member that are in excess of your annual income have occurred. Also there may be instances where a business partner took all the funds from the business and left your will all the debt. Another major factor can be divorce especially then the cause of the divorce was financial matters and now you are apart there is less income to make payments or you are not receiving alimony or child support. These are just some of the instances where bankruptcy is your only way out and your only way to start over financially. Certainly no one wants to file for bankruptcy but it is a major step in turning many peoples lives around finically and emotionally. Working with an experienced attorney is your best bet to turn things around. Most bankruptcy lawyers offer a free initial consultation. An attorney will be able to identify if bankruptcy is your only option and in your best interest.