low debt consolidation
What are the pros and cons of Bankruptcy? Should I consider debt consolidation instead?
Im about 15K in debt w/ LOW income. Barely paying the minimums w/o impacting overall debt. What can i do!!!?
I think bankruptcy is the best option. It gives you a clean slate and your credit is not ruined forever. People may say it is harder to do a bankruptcy these days but it’s not true….I found it easier to do one now than it was 11 years ago. The best way to look at it, is your credit is ruined either way. You need good credit to do traditional debt consolidation say through your bank and those debt consolidation companies are a rip off…they don’t save your credit and it is just as bad as doing a bankruptcy. So I would say do a bankruptcy to give yourself a fresh start. Try not to get back in to the same rut down the road and you will be ok. The only reason I am doing a second bankruptcy is because of a divorce and I was left with a lot of his debt…otherwise, I wouldn’t be in this situation.
