The number of bankruptcies that have been filed in recent years has far exceeded those numbers that existed in prior generations. This should come as no surprise considering the unusually difficult financial situation most people currently find themselves. Sadly, there comes a certain stigma associated with filing bankruptcy but should there be? The answer to this is no. When you file for bankruptcy, you are taking a legal and ethical approach to dealing with your difficult debt situation. Often, filing for bankruptcy opens the door to being able to deal with a serious debt issue in the most effective manner possible.