More than likely though, it won’t come to bankruptcy. After not paying your credit card for awhile, you can usually negotiate a lower rate.
There are all kind of ways to get around bad credit - co-signers, putting things in your spouses name, etc.
You can also buy a house three years after a foreclosure with a government backed low interest FHA loan with only 3 percent down payment.
I did a “strategic default” on two mortgages and had a short sale. I had an unofficial “pre-pre approval” for a mortgage 34 months afterwards and started the process of getting a house built. 36 months to the day, they started the loan process for an FHA mortgage.
It’s really easy to get a secured loan. I also got a great interest rate on a car loan during those three years. I couldn’t get unsecured credit to save my life though.