It doesn't have the same stigma as it once did. I filed years ago & as pinkcuda said, received credit card offers in the mail just the same. (Some had ridiculous fees, so be careful - but there were some legit. ones & I now have 3.) I kept my car & all the other stuff magically went away - it was such a huge relief. Of course, until the 7 yrs. is up there will be a few times when it's an inconvenience & certain places won't grant you credit, but overall the peace of mind is so worth it.