I was reading one of my regular money boards. Lots people post asking for advice-not being able to make end meet, too much credit card debt etc etc. One poster who who is having trouble ends meet, using their credit cards to survive. Myself and several other regular posters gave some advice. Create a budget, get a second temporary job-heck even flipping burgers is good option. The original poster response was that sounds too hard. "I'll just declare bankruptcy"
I am no where near an expert in bankrupty nor do I ever want to be. But personally when someone thinks that bankruptcy is the easy way out pisses me off. My husband and I paid off $20,000 in credit card debt and struggled through some hard times. But we made it through. Hubby's income goes up and down. Luckily, my business is being pretty consistent in income lately so I feel better.
Remember bankruptcy shouldn't be the easy way out. It should be a last resort.
Enjoy your savings!