Posted on February 11, 2009 at 3:35 pm I found a website that says that bankruptcy is the wrong was to go and you should always try settlement first unless you cannot afford it.  Thanks for all the help in advance!

Posted on February 11, 2009 at 5:08 pm Bankruptcy can have a very long shadow over your life. I would do all I could to avoid it. I haven't looked at the website, but I think settlement seems a better choice. Businesses want their money, and if they get their money eventually through coming to an agreement with the debtor, they'll be better off than what they'd get if you declared yourself bankrupt.So coming to an agreement is the best for them and the best for you.

Posted on February 12, 2009 at 5:14 am Filing for bankruptcy should be seen as a last resort.  Always.  Please believe me, because I am speaking from experience.  At the time, I felt like I didn't have any other choices.  I was barely keeping my head above water, and my husband at the time wasn't much help.  I can't tell you how many times he pawned his wedding ring to support his alcohol habit.  The bankruptcy is still on my credit report and most likely will remain their for two more years.  It doesn't help your credit at all, so why do it?

Posted on February 16, 2009 at 1:02 am Bankruptcies can stay on your credit report for 7-10 years. Settlement is definitely a better way to go if you can afford to do that. Otherwise, work out debt consolidation or other pay-off options with your creditors. Just as others have said, bankruptcy is a last resort; however, you need to make the decision that is right for you.

Posted on February 18, 2009 at 9:50 am Everything said here is all great, but what if the debt management programs won't even accept you because you don't show enough funds to cover it? Then what? I have no maney to settle either. If I did then making payments would be a little easier. In my situation I think bankruptcy is the only option. Or, I guess I can just continue to not pay my bills and see what happens.  

Posted on March 11, 2009 at 9:11 pm I would suggest doing the debt counseling at www.credit.org to help you decide on whether you need to go the debt management route or file for Chapter 7.  If you decide to file I would suggest www.filebankruptcyonlinenow.com because it is only $199.  It was a do it yourself but had tons of tips and examples and the Chapter 7 Bankruptcy book from Nolo.

Posted on March 13, 2009 at 6:27 am Bankruptcy should be your last option. Your first option would be to try and negotiate with your current lenders and see if you can make some payment plans. You took out your credit cards and loans knowing you'd have to pay them back. You signed a contract for the money promising to pay it back. It's your responsibility to do everything in your power to pay back the money you already took. If your finances don't stretch far enough to cover the repayments, then ask yourself if you might be doing everything you can to work out your budget properly. If you still can't afford to make payments, then it might be time to find extra work, start a part-time online business, grab a part time job, sell some things on eBay. Whatever you do - be sure you DO make an effort. Giving up and filing bankruptcy after you've already bought items and enjoyed them and then decided not to pay that money back is essentially a form of THEFT.

Posted on March 27, 2009 at 12:12 pm Bankruptsy can be a scary option for those who don't understand it's purpose or who choose to misuse the process simply to get out of credit card debt. There are many more realistic options for reducing debt and paying off student loans, including debt consolidation. Pleae consider carefully before taking this big step.

Posted on March 27, 2009 at 11:28 pm You really have two options Bankruptcy is your last resort! If you do Debt Consolidation my company can lower your monthly payments about 50%.If your behind on your credit card payments than i suggest debt Settlement.If you would like more information visit my website at Randolph Debt Solutions.com I was once 65,000 in debt would love to talk to you.

Posted on March 30, 2009 at 1:14 pm I really think that Bankruptcy is  the worst thing that a man can ever experience .and for any person this has to be avoided if you have any other option to come out of this it is the best option .you will have to try and come up and stay as far as you can from bankruptcy .i am not very experienced but and certainly give this much advice