indeed vectorul, many employers now pull credit histories as a gauge of how you manage your personal affairs, thus as the thinking goes, giving them an idea about how you discharge responsibility in the workplace. Your credit will suffer and the impact of that can’t be understated. Any item you want to buy but can’t pay for all in one lump sum will require special financing with high interest rates, if you get financing at all. Try renting a car with a debit card, for instance.
Also, about a year ago Congress, with the assistance of the President, passed some tough new bankruptcy laws. Whereas you used to be able to qualify, now only in extreme cases of hardship will bankruptcy even be an option. If you’re drowning in credit card debt that’s no excuse anymore.
Not a rosy answer but bankruptcy is not to be taken lightly. Many good bankruptcy lawyers will give you at least a half hour free to look at the paperwork and tell you what your options are. If you or someone else need an opinion then look here: http://www.martindale.com.