I would work with the non profit credit counseling. Bankruptcy is a long ordeal and should only be used as a very last resort when even working with a ccc is not a reasonable idea. Usually when you have more than 4 creditors and owe thousands of dollars you know you will never be able to pay off. Bankruptcy effects you for 7 straight years and then still stays on your credit report after that. Buying a home, car or whatever will always be effected, most often in the negative, as will the credit score. We declared because of medical bills and our mortgage application was denied because it had only been 2 years since we declared. Sincere best wishes on getting back on track.

The rules on bankruptcy have changed. Your boyfriend may not even qualify to file. Or he may be required to go Chapter 13 which is the payment plan route.

Bankruptcy will stay on his credit report for 10 years. The credit counseling will only impact his score while going thru it.

It is possible to buy a house a few years after a bankruptcy but you don’t get the best rates and have to have a 2 year on time payment history.

It really depends on how much debt he has. Going thru the credit counseling and learning to budget and pay bills would certainly be better to learn good financial management..