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I filed for bankruptcy about ten years ago. Everything you've heard about bankruptcy is bullshit. Yeah, it stays on your record for seven years. So what.
In 1994 I had gotten to the point where I was physically paying more in monthly bills than I was making every month. I had to live off of my credit card to eat, which meant my credit card bills were going up every month. I went through the bankruptcy process, which was quick and painless.
After you go through the bankruptcy you have good credit other than the bankruptcy itself on your record. Think about it - you suddenly have no debts, and you can't file for bankruptcy again for the next seven years. You'll be instantly flooded with credit card applications.
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