Most debtors who have a large amount of debt that they are struggling to pay off, at one time or another have contemplated the option of going bankrupt. In this brief article I am going to give you a couple very serious reasons why you should avoid a bankruptcy proceeding at all costs, if you can. Many debtors don't realize the devastating negative shock a bankruptcy can have.

1. A bankruptcy proceeding has an severe negative impact on your credit score and becomes a permanent public record!

2. Brand New Bankruptcy laws in 2005!

3. The judge will control your income with a Chapter 13 Proceeding!

Steve Bis is a credit card debt analyst with the US Consumer Advocate, which practices in debt relief.