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Originally Posted by spunky
Avoid it if possible..it will be a black mark on your history forever..try to get a debt consolidation loan if possible..usually you can make deals with the creditors..like offer 5k instead of 10 to clear up the debt..practically all will accept some sort of payment plan..something is better than nothing
good luck with it
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That's not entirely true, as I know it. I'm told bankruptcies purge from all credit reports 7 years after date of closure.
You may have to specifically call around to all the credit companies and say "It's been 7 years, take that bankruptcy line item off my report", but it doesn't last *forever* IIRC.