Many people want to know how they can avoid bankruptcy, it can be a difficult question to answer, especially when you have to consider the individuals unique circumstances. This article is going to try to give you the ten best ways to help you avoid filing for personal bankruptcy. This advice is just that, it's not legal advice and it certainly shouldn't be relied upon. You should seek qualified legal advice before making any decisions about your debt.

1. Ideally you need to increase the amount of money you have available to you every month. The best, and fastest way is to get a second job. You will only be able to take a second job if your full time job allows this. Even if the part time job only gives you two hundred dollars a week, that mounts up to 800 dollars a month, this will go a long way to reducing your debt. Write down all of the debts that you have, put the ones with the highest interest rate at the top as you will aim to pay these off first.

2. You must stop using your credit cards, they are the source of your trouble. If you can bear it then cut the cards up so that they can never be used again. Failing that you could give them to your wife. A credit card is however good for emergencies, you should keep one, just one mind!

3. Take a look at all of your assets and decide which ones are worth the most. Normally people don't realise just how much the things they own are worth.Houses are scarce goods and so appreciate in value, this appreciation may help in reducing your debt.If you cannot cover all of your debt by taking out a second mortgage then don't consider using this step, it's only worthwhile if you can pay everything off.

4. Unfortunately cars are not like houses, 99% of cars depreciate in value. If your car is still worth something then would you consider selling it? Of course you will need a car, so buy a cheaper car. Just remember that you do get what you pay for. Paying for something too cheep could be a really big mistake.