Debt Help Services

Question: Should you consider filing Bankruptcy if you have an overwhelming amount of debt in credit cards?

If you have debt including car loan, credit cards, and other misc debts more than the amount you make in a year or more is filing Bankruptcy the best option? I am young with a child and have accumulated so much debt making bad decisions and now I have to face the situation sooner or later. There really isnt any other option I can think of besides consolidationg or a debt management plan and if I were to consider a program like that I would be able to afford that. I am young and I figure if I was to file BK and get a fresh new start things will get better for me. but then I will have to face the penalties of filing BK and after that your credit score is ruined and alot of companies try to charge you an arm & leg with rates and everything. Eventually I want to buy a home dont want to have to rely on people for a co-signer everytime I will need credit. I sure can say this is a learning experience. Please respond if you fell you have good advice in this situation.

Answer: Bankruptcy isn't a good option. Go to your bank and ask to speak to someone in financial planning. They will set you up with a budget and show you how to survive without credit cards. You will have to work hard to get back on track, but the lessons you learn will make you a stronger person nin the end. And after you are debt free you will begin to build wealth for your old age. I suggest your bank because many debt consolidation places are scams and get you in deeper.

Plastic surgery (cutting up your credit cards) is a great place to start.

City weighs water rate increase to ease incinerator debt; rate increase could mean higher bills for Susquehanna ...

View full size Provided photo/2010 Joyce Davis, spokeswoman for Harrisburg Mayor Linda Thompson. As Harrisburg wrestles to get out from under the crushing $288 million debt from its incinerator, Harrisburg officials are considering raising water rates by 40 percent.

Debt Consolidation and Debt Management

Related posts

• Debt Management Credit Score
• Credit Score Debt Management
• Score Debt Management
• Reduce Debt
• Payoff Debt Or Save
• Pay Plan Debt Management
• Nonprofit Debt Management