text: bankruptcy is a legal filing where you declare you are unable to pay your creditors. there are different types of bankruptcy and if you go this route you need to do some SERIOUS HOMEWORK and be DAMNED CAREFUL. A bankruptcy can stay on your record from 7-11 years depending on what you file. there are a ton of websites, books and lawyers who can assist you. I'd also ask free legal clinics. One other better route for you is  consolidation where you can end up paying half or less of what you owe without screwing up your credit. PLEASE do your homework first and THINK before you do anything!!\n\nVin