This article has some good points on dealing with debt. However there are some statements that are not accurate. Bankruptcy does not sink your credit score for years to come. In most cases, your credit score may actually increase after filing a bankruptcy since you will be removing most of the bad stuff off of your credit. What will be more important is what you do after you file bankruptcy. Most of my clients credit scores actually increase within two years after they file for bankruptcy.
If you have more questions about whether you should file for bankruptcy, check out my article on 3 Signs It is Time to File Bankruptcy.