For people who want to be more involved in the decision, a good place to start is by reading the actual U.S. Code that applies to bankruptcy. Bankruptcy is covered under Title 11 of the U.S. Code. Individual chapters of particular importance are those pertaining to the type of bankruptcy you will file under, namely chapters 7, 11 or 13. Be warned, this is not light reading and is written in language barely recognizable as English.
There are hundreds of independent websites that can provide you with tons of informative bankruptcy information. Some of these sites perform a public service and others are part of private law practices. Regardless of the source, there is a lot of information presented in plain English written for the lay person. This information will present the basics of bankruptcy and give you some idea on what to base your ultimate decision as well as help you understand important factors.
When considering bankruptcy, a sound plan based off good research will ease the process. Start by educating yourself online, and from there consult an attorney or financial planner. Bankruptcy is not always the best option. Research it carefully and if ultimately you decide it is right for you, you’ll be better prepared to begin the proceedings.