When is the right time to consider filing bankruptcy?

That's a question board certified attorney Donald Golden gets all the time. His reply is always the same. "If you stopped using your credit cards right now, could you pay them off in a reasonable period of time without using them anymore"? The answer he typically gets is no, they need the credit cards to cover monthly bills. He says that cycle that must be broken and advises people who find themselves in that situation to seriously consider filing for bankruptcy.