I don't know about the rest of the world, but bankruptcy in the USA is not really the catastrophe you might think it is. You can keep a lot of your assets, gen

I don't know about the rest of the world, but bankruptcy in the USA is not really the catastrophe you might think it is. You can keep a lot of your assets, generally including your retirement accounts, at least some equity in your home, your car, your personal property. Your credit is badly dinged and you'll have trouble borrowing money for a while, but even that is only a temporary setback. I know people who have gone through it, in once case more than once, and at least from appearances they have a pretty normal lifestyle. The recovery from a bankruptcy is probably a walk in the park compared to recovery from cancer (not speaking from experience). Ultimately it's just money.