Debt Consolidation or Bankruptcy

[jenbear09]

I have about 5 credits cards that I am in debt to. I am making good money but most of it after I pay rent and utilities goes to my debt. I am looking into trying to consolidate my debt but would it be easier to claim chapter 13?

[pranith]

I think tis not going to be cheap. Its bewtter if you reduce unwanted charges and save the money so that htat could help you.

[elitesystem]

Somewhere, something goes wrong with the American psyche—the average American is $25,000 in debt—and soon this “entitlement” becomes a handicap bringing about credit card abuse. Knee deep in debt, unable to maintain even minimum monthly payments, the philosophy continues with, “Oh, well! They can’t get blood from a stone.”

“They” are the credit lenders who have graciously empowered you with a product (department stores) or service (school tuition, rent, utilities etc.) and extended these to you immediately in return for your promise to pay them back in the near future (usually in 30 days).