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  1. #1
    Join Date
    Aug 2005
    Location
    Georgia
    Posts
    1

    Default Debt Settlement or Bankruptcy

    I need some advice I have two accounts turned over to collections. I have around 30,000 in unsecured credit card debt. I am in over my head and need to get out. I need to know which would be better filling bankruptcy or debt settlement. All of my other bills are paid on time. Just the credit cards are killing me.

  2. #2
    Join Date
    Mar 2005
    Location
    Michigan
    Posts
    28,906

    Default Choosing How To Resolve Debt

    It really depends upon your income and other resources. For example, if you could pay off the credit card debt by refinancing your home, that might be the best approach to minimize damage to your credit history. Your income is another factor.

    You may wish to consider consulting an area bankruptcy lawyer, to see what they recommend.

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