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Unplanned loans, fall in income etc contribute to the problem of payment of debts.
There are many options left before a person files bankruptcy .A few alternatives to filing bankruptcy are as follows:-

• Selling out old car

• Renting out rooms in our guest house and earn some money for payment of dues

• Selling share equities which we own

• Finding work which can be done after our office hours are over and get paid for it.

• Surrendering insurance policies to get cash for payment of dues

• Selling out our home and staying in a rented place

• Take loan from our family friend or relative on a condition of payment on a future date

• Cash out refinance is also a good option, here the homeowner mortgages his house at a higher value than previous mortgage and uses the extra money to pay out his debt

Finally, the last option which remains is selling the jewelry of the house