Bankruptcy

It is important that you think carefully about the long term effects of a bankruptcy and also the timing of filing for bankruptcy.  This article from the National Consumer Law Center will help you think through these issues. 

Bankruptcy is a choice that may help if you are facing serious financial problems. You may be able to cancel your debts, stop collection calls, and get a fresh financial start. Bankruptcy can help with some financial problems, but does not guarantee you will avoid financial problems in the future. If you choose bankruptcy, you should take advantage of the fresh start it offers and then make careful decisions about future borrowing and credit, so you won’t ever need to file bankruptcy again!