Mary is a 30-year-old divorced woman. She got married at the age of 25, was married for approximately 4 years, and currently has a 3-year-old child. Mary is a financial analyst who earns approximately $60,000 per year. She has a combination of loans, credit card debt, and medical bills totaling $88,000. Her assets are worth $24,000.

• In general, what options are available to an individual in filing bankruptcy?
• What might affect the availability of these options for Mary?
• What other factors might Mary want to consider in making her decision to file bankruptcy?
• What recommendation would you make to Mary and why?