No one wants to go into bankruptcy. This is something that might be at the forefront of your worst nightmares. It will go on your record for a long time, and you might find that it will haunt you for long after you have gotten yourself back on track. So, if you are considering taking drastic action, you should first explore some of the bankruptcy alternatives that you might have.
The first of the bankruptcy alternatives that you want to think about is debt consolidation. Even if it seems like you have a lot of different debts, and even if you are drowning in your payments, you want to think about trying to consolidate your debts first. You can work with your credit card companies in order to do this, but the best thing to do is to find a company that you can trust that will help you with your debt consolidation. By doing this as one of your bankruptcy alternatives, you can put all of your debts into one debt. Yes, this might be a lot of money for you to owe, but you will find that owing only one debt is much easier on you because your interest rate will be much smaller, and therefore your monthly payments will be much lower as well.
There are several other...