When a person cannot pay the debts, he/she can use bankruptcy as an option, as per which the court makes certain arrangements in order to protect the interests of both the debtor as well as the creditors. Where debtors get an opportunity to get rid of the mounting debt problems, creditors get their money back. However, this is not an easy option at all. It should be better considered as a last option rather than an easy option. When nothing else works, you can use this method to get out of the debt trap.