As a former debt strapped college student who contemplated filing bankruptcy - I was doing it for all the wrong reasons, and had I been able to scrape up the money to do it I would have but the lessons I needed to learn about being financially responsbile would not have been learned or lasting. Many years later, I'm grateful that I didn't do it and I now understand how companies have to absorb bad and irresponsible debt which inevitably cause interest rate and price increases; in my case the new bankruptcy laws would have been fair.