If you think filing bankruptcy is an easy way to walk away from all of your bad debt problems, you are making a big mistake. It seriously impacts every aspect of your life; you should weigh your options carefully and avoid bankruptcy at all costs.

Although it may be the only alternative for a few, bankruptcy is going to damage a lot more than just your credit report. Check out this list of the top 6 ways bankruptcy is going to screw up your life and decide for yourself it is really worth it.

You wont qualify for any type of credit for at least 18 to 24 months, and when you do, you will most likely pay the highest amount of fees and interest rates possible because you are now in the high risk category. This is going to cost you thousands of dollars over the next 7 to 10 years. If you plan on making any large purchases such as a car or home in the near future you should choose to avoid bankruptcy.

Youre going to have a rough time buying and contracting services in the future too. If you need to switch phone companies, install a new cable line in your home, purchase a club shopping card or even get a new cell phone plan in the next few years, youre gonna run into problems. They will run a credit check and find your bankruptcy and make you pay a big deposit before theyll even consider providing services for you. Sure, you can put down a payment, but it may be easier in the long run to avoid bankruptcy.

If you are planning of filing chapter 7 bankruptcy, you will most certainly lose your house if you are behind on your payments. The mortgage lender can ask for permission from the bankruptcy courts to begin foreclosure proceedings. If youre filing chapter 13 bankruptcy, you cant lose your house if you stick to your payment agreement, but there are other ways to solve your debt problems and avoid bankruptcy.

Planning on moving in the next few years? You may have a tough time finding a landlord willing to rent to a person who has filed bankruptcy. And even worse, it is unlikely that you will qualify for a mortgage after bankruptcy if you dont work extremely hard at rebuilding your credit score. Believe me it is much easier to avoid bankruptcy all together and find an alternative.

Filing bankruptcy is going haunt you when applying for jobs too. It is common knowledge that employers do background and credit checks on their applicants, especially if youre applying for a position where money or valuables are concerned. Do you think they will think you are trustworthy and reliable when they see you have recently filed bankruptcy? Its much better for your career to avoid bankruptcy and investigate other solutions to your debts.

Just because youre filing bankruptcy, doesnt necessarily mean you will be starting with a clean slate. You may have to sell off your assets to repay creditors for debts that are not allowed to be discharged, such as student loans, child support and alimony. Its in your best interests to try to consolidate your debts or consider other ways to avoid bankruptcy if you want to keep all your assets you worked so hard to acquire.

The final reason to avoid bankruptcy is your health. Going through a bankruptcy is very time consuming and stressful. With all the lawyers, court dates and complicated paperwork, it really takes a serious toll on your well being by the time it over.

So there you have it, 6 aggravating and expensive ways bankruptcy will make your life miserable.

Now that you know how bad its going to be, ask yourself this one questionWhy would you go though all this pain when there is a much better solution to your debt problems just a click away?