<prompt> Human: I need some serious advise about bankruptcy. Due to some unfortunate health events and job changes, my partner and I are in more debt than I think we may ever recover from. We currently have 40K in credit card debt, owe 20K in back taxes and our current annual income is only 45K. We are currently running at a 3K deficit each month. Though we are doing what we can to look for additional jobs andor income streams, I feel that we have no way of even starting to pay off this debt. So bankruptcy may be our only option. I truly dont know what to expect with a BK. Is it worth it? If anyone has any advise, I most certainly would appreciate it.  <response>: I went through bankruptcy when I was younger. If you dont really own anything and you are fairly young bankruptcy can be awesome. Of course that depends on you changing your life. You have to immediately begin living within your means. You have to build savings as quickly as possible because you arent using credit for car repairs or anything else. It is definitely the answer when there is no way out, but it isnt for when times get tough and you want to punk out. 