Bankruptcy is a big and a very difficult decision to take. To some it might be way to run away and stay in peace from then on. But little do they know what can such a solution to problems do. Such solutions where you run away from the problem the problem is known to follow you in some or the other form. Similarly when you declare bankruptcy the problem follows.
Even though you stop getting calls day and night and you have bought your peace, but it is by paying a huge amount. Such a decision would affect your credit value in the market to great extent. The law would have it in their files for next 10-20 years. Anywhere you go and require someone to give anything on credit; they would drag out your bankruptcy report. For example you go for a job, you won