I know people in FL who have done this. File bankruptcy, keep house, keep car. The state wipes all debts, so what if your credit sucks for a few years? They got a credit card within 2 years or so.

Jonathan@MyMoneyBlog

Hey Michael,
I just have to say I love the site and enjoy reading your blog. I am working on getting myself away from the edge financially and the information here is a great resource. I read a very interesting article in the May issue of Money magazine that made me think of you when I read it. It was entitled "The Blowout." Basically, it was about a Texas couple with something like $120,000 in debt, NOT including their $210,000 mortgage who decided to finance their $30,000+ wedding on their credit cards. I nearly had a conniption reading it.
Perhaps I have no room to judge, having never been married and not planning a wedding anytime in the foreseeable future. But isn't this kind of insane? Can I see the article of their bitter divorce in 5 years and read the quotes from the groom about how "worth it" it was? I would love to hear your thoughts on this and I would give you the link to this article but you have to be a Money subscriber to view it online. Thanks for all your great insights.

Thanks, Becky!

I am a MONEY subscriber, but I haven't made my way through the May issue yet. The article you mention sounds like it's right down my alley, though.

Dark alley, at that.

I love reading about the trials and tribulations of idiots.