What should I do?

I'm in about 40k worth of debt, however 17k is a car loan (which has been accelerated, though I still have the car, I'm sure it'll get repoed soon) and about 13k in student loans (which are in deferment because I'm in school) and I have about 10k in credit cards, installment loans, and payday loans... about 10 different accounts. Its all my own fault I know, and shockingly it only took me about 3 years to get into this hot mess (I'm 22), I've learned my lesson. But now I just need to know how to fix this. Should I just declare chapter 7 as I have no assets or income? or should I try a credit counsiling service? and what can I do with the car if I don't file bankruptcy? Thanks

Personally I would like to advice you to go for a credit counseling service as your debt is really too much to plan and handle. I think that you are too young at the age of 22. So better get out of debt. Sell your car, pay some debt. Earn as you have a long life to live and then after 5 years you can again buy yourself a new car.

I was 24 and did experience being in debt even more than that. Because i did loan in my businesses before and somethings goes wrong. Our only difference is that i did have another business to make money, and did develop skills and l;earn from previous mistakes. I payed my debt using online sources and you could do that too. I know it is hard to start by little by little internet delivers everything you need even money problems. But as of now try to dispose what you got and do some councelling.

Because you have no assets or income, bankruptcy may be your only option.  I would suggest you go to a non-profit credit counseling service first, however, as they may be able to come up with another alternative.  Still, unless you have some income, there is not much to be done in terms of repayment.

I agree I would look at working with a credit counseling company. I had the same problem with 17k in credit card debt and used this website (which really helped me suprisingly). I went to www.endthisdebt.com and filled out their form for credit card debt. I got a free consultation and 2 companies then gave me advice and told me what it would entail. I should be out of credit card debt now in 6 months.