There’s no money to keep current with bills or get back a foreclosed home or repossessed car. Your financial situation has deteriorated so much that you’re just falling further and further behind. "A lot of people who have filed for bankruptcy did not understand how bad their financial situation was until the red-level emergencies occurred,” says Ms. Feeney, who is also a bankruptcy judge in Massachusetts.
If this describes you, get informed on the the bankruptcy process. The US Courts have an informative website. Also, find an attorney who can help. (One source for lawyers is through TotalBankruptcy.com.) There’s just one solution for your situation: bankruptcy.