bankruptcy a good idea?

[jerry G]

the last thing i want to do is file for bankruptcy, but at this point it seems like having one on my credit would be better than what's already on there. I owe more than 20 grand in credit card debt, have several collections and a few bad checks. on top of that i have a repossession that left me with no truck but a nice balance of over 5 grand. what can i say its been a hard couple of years.

for a while i was going to try to get on top of everything and start taking care of it one paycheck at a time. but within a few months i realized that i was in way over my head. budgeting my money and putting every available penny toward paying off credit card debt was no problem, but i started to realize it wasn't going to get me anywhere. i could make every sacrifice in the world but wouldnt make a dent in what i owe for years to come.

so ive been thinking about bankruptcy as a solution, even though its bad for your credit (can mine really get any worse?)

any thoughts on this?

[mycreditgroup]

Jerry,

I know that must feel like an overwhelming amout of debt, but it may not be nearly as bad as you think. You did mention you were putting money away which means there is hope.

For some, bankruptcy is a very viable solution. But for many, a solid credit repair, debt settlement and credit re-estblishment program is a much better solution.

It's impossible to tell without looking at your credit report and budgets. If you'd like to fax or email your credit reports and set aside about 1/2 hour for a free consultation - we'd be more than happy to give you our best advice.