Is Bankruptsy Better

It all depends on the circumstances. I would suggest using bankruptcy as a last resort if at all possible. Have you tried credit counseling or consolidataion or even talking to the people you owe money to to see if they would do a settlement? Understand if you file bankruptcy, depending on which one you file, it will stay on your credit report for 7 to 10 years. If you are considering bankruptcy, see if you can get a consultation with an attorney and let them look at your finances and they can suggest which one you should file. Be completely honest about everything though and don't try to hide something beause you don't want to look bad. Believe me, they have seen it all. Hope your situation gets better.

I would have to agree, I myself filed bankruptcy last year. But I used it as my last resort after trying two different consolidation agency's. Trying to fight and pay my creditors for years while trying to keep my head above water. I discussed everything with an attorney to make sure it was something I really should be doing. In my situation I really had no choice, I had two creditors that filed lawsuits against me and more that was threatening to do it. I was required to meet with a credit counselor prior to filing to also make sure it was my only option.

What do you do if you don't make enough money to do consolidation? That's the situation I'm in now....I don't want to file for bankruptcy...but it might be my only option...I'm 25...I feel like I've lost control of my life....all I want to do is sit in a corner and cry :( :( :(

It is still going to cost to file bankruptcy. What I would suggest is talk to a consolidation company, (if you registered, one will give you a call) and then check to see if you can find an attorney that can give you a consultation and then see how they will work with you on payments. Don't ever give up hope!!! I know that is hard to do and we all get there at times, I know I have been there lots of times and even recently. Take a deep breath, hold your head up and lets start here. Talk to both and see what they suggest and what they can offer. And hey, if you want to cry, go ahead and do it. It is ok. Believe me, I have done it several times. Have some faith that things will work out. Hang in there, we are here for you.

2nd band offers great advice to you, and most of all there are people here to support you. have you compared consolidation companies? in regards to their terms and conditions? monthly fees etc.? sometimes an organization is pricey and others, non profits, can be a little less expensive. comparing companies does help.

I've contacted a few, the only problem is, I make approximately $800 a month, car = 289, rent = 315 (with utl)...insurance = 65...I have a little over 12,000 (I thought it was 9,000...found out differently). ugh :(

Does anyone have any idea if there is a minimum payment I can make to each credit collector?