The fear that there is no way out and the lack of help from creditors and so-called "credit counseling" experts just makes the situation worse. Click here to talk to a lawyer and get the help you need.

New laws have been enacted  that make it substantially harder to take bankruptcy as a way out.The credit card industry paid congress billions of dollars over eight years to reform the bankruptcy laws which has had the result  of  denying bankruptcy to the average low and middle income person.

So how bad is bankruptcy on your credit report? Well, you are probably aware that bankruptcy will stay on your credit report for ten years. However, most people are not aware that bankruptcy will stay on your court records for 20 years and can follow you for the rest of your life, if you apply for a job, loan, or various insurance. If you apply for a loan, one of the first questions normally asked is "have you ever filed for bankruptcy?" The easy, quick fix that bankruptcy is made out to be is just not true. And the day you remove the bankruptcy stain from your credit report, 10 years later, that removal will create a new stain on your credit report. In Texas, a consumer does not need to resort to bankruptcy to avoid credit card debt!

If you do not feel like paying for a mistake for 20 YEARS click here to talk with a  group of professionals that are looking out for your interests.

You might have heard people say that there is not the stigma attached to bankruptcy that there used to be. In our experience this is not the case. Consider applying for a great job after you have filed bankruptcy. You know going into the interview that they might run a credit report, many employers do these days. This will probably effect the way you act during your interview. Even if you get the job and your employer later obtains a bad credit report on you, you will still have to explain the bankruptcy. Employers cannot fire you due to a bad credit report but it can determine future promotion decisions.

You also should not believe the stories about having an "A" credit rating after a year or so. Credit companies do not look kindly on people that took this method of solving their debt problem. Yes you will receive credit card offers after a few years but do you really want to be paying the "bad risk" 21% plus interest rates? You might be able to eliminate your debt, but the effects emotionally, the loss of self-esteem and the effect on your credit history will last many, many years into your future.