ankruptcy is a major step for most people. Bankruptcy law is intended to protect people from their creditors when they become unable to pay their bills. The roots of bankruptcy law probably go back to the Hebrew tradition of forgiving all debts every 7th year. In the U.S., people have often felt that bankruptcy was a “black mark” on their morals or credibility. However, in the recent economic recession, people are seeking bankruptcy protection all over the country. Bankruptcy is intended to give a person a fresh start, and generally eliminates all debts other than those that are non-dischargeable (student loans). Bankruptcy can be done on a DIY basis or by using an attorney. Attorneys in most states charge less than $1K for a basic personal bankruptcy, and they usually accept installments. Also, many states allow paralegals to do this by filling out forms for you and then they let you file the forms on your own.