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.

 

btw, i was in a situation similar to you. as soon as i went to college, i signed up for a credit and they accidentally sent me 2 cards, and i maxed them out within a month, but couldn't pay them off. so i'd avoid the calls, throw away the bills, and eventually the amounts would double and triple, making it even harder to pay off. i've had so many collectors call me, it's not funny.

but eventually i decided i needed to fix it and actually talked with the people that called me and set up payment plans. it took awhile (about 5 years) but i eventually paid everything off, and got back into good standing creditwise.

it was so worth it. i was able to actually buy my own car on my own credit, with no co-signer, and it felt good.

i still have problems here and there with credit cards, but it's not nearly as bad. i would it's much better than doing it any other way because now i know i don't have black marks on my credit report, and won't have to worry as much when i go to buy a house or a new car or something.

 

sell ur car, get a bus pass

 

Buses barely run here in Orlando... and I just bought my beater car after my other one died for $850.

kthx.

 

my roommate was a deadbeat and got calls from creditors all the time. had to take the phone off the hook. :rofl:. on a side note, i have no credit issues

 

Your indebtedness isn't really an amount that's worth filing bankruptcy for. The filing/attorney fees amount to 1800.00 and they get paid first, then the creditor will get paid a percentage, your attorney figures out what your percentage of payback will be.

 

dog gone it, i thought you had some money dude? How bout a loan from a friend called Jon and you pay him cash slowly?

 

car = insurance + maintainence + $3.00+ gasoline

they add up :dunno:

 

:ibthisthreadturnsintohelpingfriend>buyingporsche: lawlz:

h:

 

clean slate? No. Try dirty pile of rubbish slate for 8-10 years.

Find a legit debt adviser and go from there.