How to file Bankruptcy with NO income

I have a challenging financial life situation. I am 56 year old, unemployed for the last year and a half. I filed tax returned regularly. I have visa credit debt for 12000, and almost paid student loan. I have a family of three, me my wife and a teenage son.The second child is a part time university student who lives separately. My wife earns net 4200 monthly. We rent an apartment, no car. We do not have any joined loans or credits. But my wife has loaned her visa debt, 13000 to pay monthly for three years.
I do not have resources to pay visa; recently the bank has increased visa interest dramatically up to 24.99%.
Is the personal bankruptcy would be the best choice for me?

This entry was posted on Wednesday, July 13th, 2011 at 8:22 pm by Questions and is filed under bankruptcy. You can leave a response, or trackback from your own site.