text: I would not reccommend the "Ostrich Approach" (sticking your head in the sand and doing nothing) . \n\nThe 7 year game doesn't work anymore. There are what we call "junk debt buyers" which are rouge debt collectors that buy debt long past the statute and illegally re-age the accounts and sue or try to collect them far after the statute has expired. \n\nBased on your situation, you may have no choice but to file, but your should still look at your alternatives because bankruptcy should be a last resort. \n\n\nHere is a good article on bankruptcy facts you should read: \n\nhttp://www.expert-credit-advice.com/bankruptcy_facts.htm\n\n\n\nHere is a good artcle about options to deal with debt: \n\nhttp://www.expert-credit-advice.com/options_to_eliminate_debt.htm \n\n\nWhatever you decide to do, it will affect your credit. \n\nIf you want it to affect your credit positively, pay off your debts without bankruptcy. Settling your debts may allow you to afford paying them off rapidly and you can still salvage your credit but it will take some time. \n\nRead this: http://www.expert-credit-advice.com/debt_settlement_service.htm