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And today's question comes from Warren in Washington, D.C. I have a large amount of debt.

Wouldn't it be better to file for bankruptcy to have a fresh start and then build wealth instead of taking years to pay off debt and then start to build wealth?

When is bankruptcy a good option?

We would say in the very,

very, very rare case is bankruptcy an option? Because most of the time it is a U problem and bankruptcy doesn't solve a U problem. It may wipe debts away, not your student loans, and then it's on your

record for a while. But the problem is,

usually when it comes to money, it's us. It's the person handling it. And so while in one sense,

it could sound like an easy exchange, I'll take bankruptcy for the no debts, it doesn't change

the pattern of what caused you to get in there in the first place.

And most of the time we find people can get out of debt. I mean, rare, I don't, I mean, it's only

been a handful of times on this show that you've ever even entertained the idea of giving

someone advice for bankruptcy. Yeah. I don't tell people to file bankruptcy and I don't tell people

to file divorce, with the exception of a situation where the wife is a punching bag because her husband's scum.

In that case, file divorce. Get out of there. He's scum.

But other than that, I don't tell people to do the stuff like this.

I don't make decisions like that for you on this show.

I will tell you that you should file bankruptcy about as often as you should file for a divorce,

which is almost never.

If you have a big fight with your wife, you don't go file for divorce.

We've been through a rough patch this summer.

You don't go file for a divorce.

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