If you read much online about debt and bankruptcy, you notice that often they point out the obvious. Don't collect too much debt or get health insurance. For many people in Tennessee, some of those options may not be very realistic. If jobs are hard to come by, and your employer does not offer health insurance, finding and affording insurance may be a problem.
They also warn against filing bankruptcy, and that it will damage your credit score. Well, if you are contemplating the need to file bankruptcy, chances are your credit score is not looking very healthy in the first place.
A more important consideration is not how it will affect your credit score, but whether it is the best option at the time. If you are suffering from overwhelming debt, you are unlikely to take out more credit, but the timing of a bankruptcy is important, as you want to be certain that your bankruptcy will eliminate your dischargeable debt, and that you are not accumulating additional debt.
Because once you file and obtain a discharge, you may not be able to file another bankruptcy for years. If you are still out of work or receiving medical treatment that generates additional debts, you may need to discuss the issue with your bankruptcy attorney.
A Chapter 7 or Chapter 13 can help you begin again with a financial fresh start, but you want to ensure that it solves your issue so that you do not need to refile in the future.
Nerdwallet.com, "3 Negative Credit Events You Should Avoid," Ben Luthi, April 21, 2015