I'm thinking about filing for bankruptcy I maybe have...

[Shorty]

...about a little over $6000 in personal credit card debt plus an auto loan I did for someone in 2002, my debt is more than my income. Does anyone know if it would make sense for me to file for such a small amount. I have already talk to a lawyer's office about it I just need a second educated opinion from someone who would know.I don't own anything I still live at home I live in Michigan so jobs are very hard to come by I just want to make a fresh start.

[ssweeps]

YOU ARE A SUCKER! NEVER CO-SIGN FOR ANY LOAN! 6000 in CC debt? Buy a house and re-finance your loan so you can add it to your loan balance...cut up the cards...

[RaceGirl 21]

I don't have an answer to your question but I just wanted to make a statement to a previous answerer... How is she supposed to buy a house when no one would finance one bc of her credit. How dumb. Answer the question!! duh! LOL

[conniebinkers]

Don't file for bankruptcy. Here's the thing...you can settle your debts for FAR less than you owe. It's kind of an unspoken truth. Also, you can dispute charges on your credit through the credit union websites. The kicker is that it's free for you to dispute it, but it costs the company $75 every time to keep it live. Chances are after the third time they will be in the hole for too much and it will come off your record. This works for most older debts and items that have gone into collections.Also, you can contact the collection agencies or creditors and ask to settle for a lesser amount to close your balance. If you do this, there is an IMPORTANT step to follow...write directly on the check: "THIS CHECK PAYS THE BALANCE IN FULL." When they cash your check they are legally accepting your payment to wipe out your debt for the account.These are things you can do on your own with a little patience and determination. Essentially this is what credit fixing companies do. $6000 in credit card debt is average actually. Most credit fixing companies don't usually take anyone with less than $10,000 in debt. Bankruptcy is NOT a good option. In fact it only guarantees that you won't be able to finance or open new decent credit accounts for 7 years.As for credit card debt. Call the card companies and explain your situation and see if you can get a reduced interest rate. Whatever you do, just make sure you pay AT LEAST the minimum payment. If you miss payments you'll get charged for the late fees and they will increase your interest to the maximum.Hope this helps. Good luck!

[conundrum]

Shorty, the Banks want their Money in any form.Ever since Congress passed the Bankruptcy laws its been harder to file. Either way you need to contact them and let them know what you able to pay. The days of filing and leaving the institution holding the bag are over. Make a deal and if you have to get another job to pay it off, then do it.The banks have also doubled the Minimum payments as you no doubt have found out, and that supposed to let you pay it off sooner.

[Tom C]

Don't file bankruptcy. After passage of the Bankruptcy Act last year you can no longer have your credit card debt wiped clean in a Chap. 7 liquidation. Instead you will have to continue to make payments. And the car loan will not be forgiven...and if you stop making the payments the lender will simply repossess the car. If you really hunker down...work a full time job and a part time job, live frugally and put every penny into paying off your debts you can probably work your way out of this debt within a year. Good luck.