Bankruptcy
     Believe it or not many middle class people qualify for bankruptcy.  You may think of that car you have as an asset but you may have an outstanding car loan for near its value.  A simple Chapter 7 bankruptcy may allow you to choose which of these kinds of debts you want to keep and allow you to walk away from most if not all of your other debts.  Under bankruptcy laws you are entitled to a number of exemptions - these are assets you can keep or interests in assets that can be kept.
    Bankruptcy may cost a lot less than the fees an attorney would require to defend you from some creditor's suit.

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