You should consider bankruptcy as an option when you can't make minimum monthly payments on credit card debt or when you just know that you can't continue this way, you can't continue to roll some credit card debt into another credit card debt by doing balance transfers, when you're looking to pull equity out of your home to pay off credit card debts, when you're getting constant calls at home and work. There is a way out and it's a relatively painless way out. It allows you to rebuild your credit faster than you may think by filing bankruptcy.