The long term consequences end in 7 years, when the bankruptcy falls off your credit report. That means that by 30 you'd be free and clear. Most people don't n

The long term consequences end in 7 years, when the bankruptcy falls off your credit report. That means that by 30 you'd be free and clear. Most people don't need much credit before then anyway: the median age of first time homebuyers is 33. You'd pay a lot more for a car loan or a credit card, but you don't really need either of those things either.