You have to be careful when considering filing bankrupcy. Basically you have two options:

1. Attorneys: Now this sometimes could be considered a conflict of interest. How does a legal counsel make their money? Fees!!!! so with all things being equal which way do you think they will want to send you.

2. Credit Counselors: On the other side of the coin are debt consolidation counselors. This is probably a better option for people who truely want to pay their debts. Debt Consolidation Companies also get their fees, but being able to negotiate a lower interest on your debts will probably offset your fees. Although this type of action can also have an effect on your credit report it should not be as critical as a bankruptcy entry.