For you, declaring bankruptcy might be the best way out of debt. However, it is important to remember that bankruptcy will have serious consequences on your credit. It will remain in your credit history for 10 years and will dramatically effect your credit score.
With all this in mind, let’s make sure that declaring bankruptcy is the right choice for you.
Before taking that step, consider seeking help from an Accredited Credit Counseling Service who can give you such advice. Many people have been able to change the way they spend and work hard to pay their way out of debt without having to file for bankruptcy.