Should I declare bankruptcy?

I%26#039;ve been threatened to be sued by the same credit union several times. I%26#039;m in debt with them for a bit more than $3,000, and also have various other debts that aren%26#039;t nearly that much, but include hospital bills (ER visits; i have no insurance), credit card debt, and probably more that I can%26#039;t even remember right now. My credit score is very low, and I just can%26#039;t pay these bills! I am so poor and live paycheck to paycheck (when I have one, right now I have no job). What the debtors tell me scares me so much and I dont%26#039; know if I can do this.

I don%26#039;t intend on buying a house or new car very soon, but what are the other downfalls? Would it be worth it? And how much would declaring bankruptcy actually help me?

Should I declare bankruptcy?

Hi,

You can visit http://bankruptcy.grantsaccess.info to get your query on bankruptcy well clarified. Good luck!

Should I declare bankruptcy?

Take Tony%26#039;s advice first and see how you can settle your debts for less than you owe. Bankruptcy will not relieve you of your debts. The bankruptcy laws have changed, and it is no longer possible for a capable person who is able to earn income to avoid repaying credit card and other debts. The bankruptcy court may make it easier for you, by establishing repayment schedules, but if you think bankruptcy will eliminate your debts, you would be disappointed.

Bankruptcy is a serious step. If you have been irresponsible in your borrowing and spending, it is time you put your financial affairs in order and depend on your work and ability to earn money rather than using other people%26#039;s money to spend on yourself and then trying to avoid repaying the debts. Your situation might have been unavoidable (for example, a serious illness, loss of job, or accident), in which case creditors are more likely to cooperate than if you have been a spendthrift. You should not expect to have other people support you with their money without repaying it.