People consider filing for bankruptcy for a number of reasons. But whatever the reason, this option is often seen as a last resort—a solution to be considered only after all other potential remedies have been exhausted. Unfortunately, the stigma associated with bankruptcy may make those drowning in debt hesitant to seek relief. Some have ethical objections, and others may view bankruptcy as an admission of personal defeat. As a result, a petition for bankruptcy relief is often made far later than objectively advisable.