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If, after listening to numerous debt relief tips, you are considering bankruptcy as a debt relief option, remember that it will stay on your credit report for up to ten years and still may not solve all your financial problems. Certain debts cannot be erased by bankruptcy, including certain taxes, alimony and child support, student loans, and some property settlements. Recently passed laws regarding bankruptcy which go into effect in October 2005, prevents some people from filing for bankruptcy altogether and makes it harder for those who do qualify to come up with manageable repayment plans and provides fewer protections from collection efforts than the prior law. The only way to know for sure if you qualify for bankruptcy and if it is the right choice for you is to seek financial counseling from a qualified consumer credit counselor. To find a certified consumer credit counseling agency in your area, visit the National Consumer Credit Counseling Foundation's Web site.