In today community, we are seeing more and more young people walk into the bankruptcy.  If possible, majority of people would not prefer to meet a bankruptcy judge. If have, just too bad and too late for you to set the thing right when deep in debt.
People are walking into a very wrong path, especially for young people and many of them are professional!! Some of the people who being call for bankruptcy, with debt of more than their annual income by hundred of percent!!

Imagine the number of debt is not controlled by all in a country; a potential economy crisis is waiting
Some of these cases may be explainable (safe to say ‘unavoidable’), such as job loss, medical condition (without insurance coverage) and so on.  The other majorities of bankruptcy case are avoidable with high percentage due to Credit Card debt, and should take note of
          Always set a spending budget and allocate a percentage for saving / investment. You may observe you’re spending pattern and cutting down by months where possible.
          Spend within your limit
          Do not own too many credit or charge cards, as usually comes with fees and changes. Imagine a card with $100 service charge p.a., and you holding 5 compared to 2?
          Finish off your credit card bills every month to avoid interest charges
          Find a certified financial planner to help you with the planning if needed
          Contact your banks to discuss on the re-payment schedule and readjust the interest charges, if you having problem in paying your bills. These to avoid a very bad credit score
Lastly, responsible person is coming from home; parents’ too educate their child about Financial planning.  What your view?