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Question By
ogbud

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how bad will fileing bankruptcy mess up my credit

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VERY bad. Bankruptcy is the worst thing that can happen to your credit. It's not supposed to be painless. If it were painless then more people would do it. They'd run up a bunch of credit card debt, file bankruptcy, and voila--clean slate. 
Bankruptcy is meant to be a last resort. It can help stop foreclosure and save you from losing your home, and it can eliminate a civil judgment if you are sued for an amount so huge you could never pay it off. 

The money it takes to file for bankruptcy would usually be better spent paying debts. If your only problem is collection accounts, don't do it.

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