<prompt> Human: Ive been slowly falling behind on my debt, but I just lost my job and Im having a panic attack. Ive got over 50k in credit card debt, with the other 50k in student loans which I know I cant get out of. Thankfully I can make about 7500 over the next few months farming for my uncle, so I have a little time before things get dire. Is it time for bankruptcy? Edit 1: By slowly falling behind I havent yet missed a payment, but I havent been able to pay more than the minimum for a few months now. I have not finished college, went for 2.5 years, then dropped out when money got right. How did I amass 50k in credit card debt you may ask? I was really into churning and building my credit. I always paid in full, and every time I got a new card the limit kept getting higher and higher. Then I went on a downward spiral of depression, alcoholism, and the big one, gambling. Life sorta spiraled out of control for awhile.I joined AA and GA about a year ago, was starting to get my life back on track, and then this happened. Id go on a bender but thankfully all my cards are maxed out.  <response>: How much can you earn once you get back on your feet?I would be pretty hesitant to declare bankruptcy until you are very confident you are in a much better place with the depression, alcohol, and gambling that fueled your poor decisions.If you declare and the issues are not resolved you may put yourself back in debt within 2-4 years.Since only about 50k is dischargeable, I would heavily consider working 2-4 years to pay it off while living at home. 