Educational Consumer Tips
Better Business Bureau
Declaring bankruptcy won't cure your credit woes.
Bankruptcy should only be used as a last resort in extreme circumstances. It remains on your record for up to ten years, and it may be difficult to obtain loans. It can also scare off potential employers or landlords.
Not all debts are forgiven when you declare bankruptcy. Your assets may be sold to satisfy some of the debts. You may still be responsible to pay back some things.
You can contact a credit counselor to help work out a payment schedule with your creditors, Many of these services are non-profit organizations. You may also contact the Consumer Credit Counseling Service located at Statler Towers, Buffalo, NY (716) 854-1710.