How much debt is too much debt? Meaning, when is it time to basically throw in the towel? Many times when debt seems out of control, (not through irresponsibility) there is nothing left but to start over. Sometimes life brings situations that are out of our control. It could be Natural disasters, divorce, death of a loved one, layoffs, and even pay decreases. All of these are causes of financial hardships. I know that there are many debt relief programs out there such as debt consolidation, and credit repair but, if your laid off from work or if the bread winner is no longer a part of the picture, bankruptcy may be the only alternative to getting your life back.
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