Bankruptcy is a serious choice with long term consequences. We recommend consulting with one or two attorneys and financial advisors before starting down this path.  The impact is 7-10 years on your credit as well as a public record. You may not qualify depending upon your income and county of residence. You may only qualify for Chapter 13 which requires you to pay the debts over a long period of time. Make sure this is your only and best option before proceeding. Review all options with several professionals.

Click on Debt Education for detailed information.