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Knowledgebase Home | Favorites | Forum Welcome to our knowledge base. To find what you're after, use the search box below or choose a category to view listed articles. Search the Knowledgebase Browse by Category [Advanced Search] -- Select Category -- Credit MythbustersLoans    - Personal Loans    - Auto Loans    - Home Loans    - Student LoansCredit CardsCredit Reports and ScoresCredit Report CardIdentity TheftDebt HelpConsumer Law Guide    - College Cost Reduction and Access Act    - Credit Card Accountability Responsibility and Disclosure Act (CARD Act)     - Credit Repair Organizations Act (CROA)    - Equal Credit Opportunity Act (ECOA)    - Fair and Accurate Credit Transactions Act (FACTA)    - Fair Credit Reporting Act (FCRA)    - Fair Debt Collection Practices Act    - Overdraft Rules for Debit and ATM CardsCustomer Support The article has been updated successfully. Knowledgebase Home > Credit Reports and Scores Knowledgebase Home > Debt Help Is it better to file for bankruptcy or wait for seven years until the debt gets wiped out? Article Details Last Updated 8th of March, 2010 Would you like to... Discuss Print this page Email this page Post a comment Subscribe me Add to favorites Remove Highlighting Edit this Article Quick Edit Export to PDF User Opinions (2 votes) 50% 50% How would you rate this answer? Helpful Not helpful Help us improve. Why was this unhelpful? Thank you for rating this answer. With the new bankruptcy laws, you may or may not be able to file for bankruptcy protection. And even if you wait seven years, your debt doesn’t get wiped out. Your lenders just can’t report the debt to the credit bureaus any longer. But they can certainly still try to collect the debt or sue you. Not sure how to handle your debt? Find out more about debt help and services. Related Articles What is a bankruptcy score? What are the different types of bankruptcy? What is a credit risk score? Is a judgment or lien just as bad for my credit score as bankruptcy? How much does a judgment, lien, or bankruptcy affect my FICO score? Continue