Some people play the "Bankruptcy " game like professionals, I just couldn't see myself doing it though...
Nor could I, but for other reasons.
Not that I advocate irresponsibility - sometimes we just get backed into a corner. I was, 40 years ago, after a motorcycle accident. Happened in Michigan, a no-fault state. I was from elsewhere, just riding through.
When I bought the bike and insurance, I had a gold-plated medical policy from my State job. So I didn't buy Medical Coverage on the insurance policy.
The other driver was legal - probably. I never found out, because the other party was never liable, even though the cause was open-and-shut.
The hospital bills were about $50k in 1986 dollars. I filed a MVA lawsuit against the other driver - which later got discarded, for incredible case law. Michigan has screwed-up liability statutes and rulings - basically, blanket absolution for even criminal negligence and malicious acts.
Five years later it was still winding through...my attorney, fresh from law school when he took the case, and a full partner in his firm by the time it was resolved, hadn't given up. He should have. For hundreds of hours, he received a grand-total of $125 - his 40 percent. The rest went to the hospital in Michigan - where they took less than a tenth of a cent on the dollar, as a token payment.
I was prepared to file bankruptcy, but I had two cars, two credit cards (not maxed out) and some stock ownership, which would have covered about 50 percent of the money I owed. That stock was inherited from a family member, and to me, sale was not negotiable. (Later sold it at great profit - Big Pharma, which was turning ugly).
So, it all turned out, but I was close. I didn't want the various attorneys and/or auditors snooping around my affairs, maybe for years, looking for fraud.