text: i'm 30 years old, should i file for bankruptcy? i have about $30,000 in debts. mainly from credit cards dating before 2002. i used to pay my bills on time, however, in 2002 i was diagnosed with a disabling illness and fell way behind on my bills. i no longer am able to work and have been on social security disability insurance for 6 months now. would it be worth filing for bankruptcy? or should i just wait till the "7 year reporting period" from creditors have passed, and not file? i really want to improve my credit rating asap! also, i live in california and i'm planning on moving to texas very soon. if i should file for bk, should i do it in ca or tx? i would not reccommend the "ostrich approach" (sticking your head in the sand and doing nothing) .   the 7 year game doesn't work anymore. there are what we call "junk debt buyers" which are rouge debt collectors that buy debt long past the statute and illegally re-age the accounts and sue or try to collect them far after the statute has expired.   based on your situation, you may have no choice but to file, but your should still look at your alternatives because bankruptcy should be a last resort.    here is a good article on bankruptcy facts you should read:   http://www.expert-credit-advice.com/bankruptcy_facts.htm    here is a good artcle about options to deal with debt:   http://www.expert-credit-advice.com/options_to_eliminate_debt.htm    whatever you decide to do, it will affect your credit.   if you want it to affect your credit positively, pay off your debts without bankruptcy. settling your debts may allow you to afford paying them off rapidly and you can still salvage your credit but it will take some time.   read this: http://www.expert-credit-advice.com/debt_settlement_service.htm