There isn’t a single person who has not thought about their finances and how to better them. Many people believe the hard work and diligence they put into their school or trade and then transition that to their employment will open the gates to financial freedom. Sometimes there are bumps in the road. No one ever foresees that they’ll get sick and have mounting medical bills, or that their roommate moves out and you’re unable to handle both your part and their part of the rent, leaving you without the apartment and worse, an eviction on your credit report. Perhaps you’ve bought a used car that never ran as it should and died even before you could pay it off.
Declaring bankruptcy isn’t the end, but the beginning to a new future. A fresh start. Declaring bankruptcy helps you remove the debt load you’ve been carrying, so you can save for things that will help you in the future, such as savings account, retirement plan, or that trip you wanted to take with family, friends, or even just yourself.
https://www.businessinsider.com/personal-finance/declaring-bankruptcy-medical-debt-2020-5