Although bankruptcy is one of the most powerful tools for resolving serious debt problems and getting a clean slate, filing for bankruptcy is not without its downsides. Chief among these is the substantial negative impact that bankruptcy can have on your credit score and ability to obtain credit, which can last for several years after you have filed for bankruptcy. You may have other less drastic options that can also allow you to resolve your debts, such as credit counseling or debt consolidation. A New Jersey bankruptcy attorney from Camili & Capo PA can walk you through your options for addressing your financial issues and advise you when bankruptcy represents the best option for you.