I wish I was in the same financial situation as you. I have the loan on my prelude and suzuki, plus CC debt upwards of what you are in. I considered it also, but actually sat down, did a budget, called up my creditors and worked something out with them.

It's going to take 4 years to pay off those 3 things, and by that time ill be about 24. Im so glad I made my mistakes this young.

Don't do it dude, call your creditors up, talk to them. If they don't budge mention the possibility of bankruptcy. Some money is better than no money to them.

If you do file bankruptcy, good luck getting any type of credit from any of the companies you are in with now.

Call'm up, give it at least 3 more months so that you have time to thoroughly think through all your options.