Is bankruptcy my only option? 22 Answers as of July 07, 2013

I'm 25 and have a lot of debt. Nothing seems to be working as far as payment plans to reduce it. It seems like the only option is to file bankruptcy. I can't afford the monthly payments. I need to get the creditors off my back. Please help!

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Law Office of Ben Echols | Ben Echols
Talk with a good bankruptcy layer about a chapter 7 bankruptcy.
Answer Applies to: California
Replied: 7/7/2013
Indianapolis Bankruptcy Law Office of Eric C. Lewis
Indianapolis Bankruptcy Law Office of Eric C. Lewis | Eric Lewis
Bankruptcy may or may not be your best solution.
Answer Applies to: Indiana
Replied: 6/27/2013
The Law Office of Marvin Wolf
The Law Office of Marvin Wolf | Marvin Wolf
Although bankruptcy is an option under the circumstances you describe, you may also have other options, but it would take a consultation and look at your credit report to help you decide your best option.
Answer Applies to: New Jersey
Replied: 6/27/2013
The Wooten Legal Consulting, PC | Antoinette M. Wooten
Have you asked that your interest on the accounts be reduced? This may help. Are you paying only the minimum per month?
Answer Applies to: New York
Replied: 6/27/2013
Law Office of D.L. Drain, P.A.
Law Office of D.L. Drain, P.A. | Diane L. Drain
Please understand that bankruptcy is a very complicated process. It is wise to talk to an experienced bankruptcy attorney before deciding to take this important step.
Answer Applies to: Arizona
Replied: 6/27/2013
    Janet A. Lawson Bankruptcy Attorney
    Janet A. Lawson Bankruptcy Attorney | Janet Lawson
    See a lawyer about your case. I don't have enough facts here to answer this fully. Consultations are free.
    Answer Applies to: California
    Replied: 6/27/2013
    Davis Law SC | D. Nathan Davis
    Bankruptcy may be your best option, but, I am concerned that you are considering filing because the creditors are "on your back". It is impossible to stand on someone's back unless the person is lying down. Stand up and make sure the decisions you make are based on what is best for you and your future. Creditors do not cut off fingers etc, if they call you simply hang up and if they send you letters etc., you can use the paper to start the barbecue grill. You need to contact an attorney to determine how to achieve your goals. Remember that a creditor is going to do what is best for itself and you need to make sure that you do what is best for YOU.
    Answer Applies to: South Carolina
    Replied: 6/26/2013
    Portland Bankruptcy Law Group
    Portland Bankruptcy Law Group | Christopher J. Kane
    There are many factors that go into making a decision whether bankruptcy is your best option.
    Answer Applies to: Oregon
    Replied: 6/26/2013
    A Fresh Start
    A Fresh Start | Dorothy G Bunce
    Bankruptcy is not the only option, but every choice comes with a price. There is no free lunch, and to advise you would require a full evaluation of the details.
    Answer Applies to: Nevada
    Replied: 6/26/2013
    Stephens Gourley & Bywater | David A. Stephens
    It may not be the only option, but it is an option.
    Answer Applies to: Nevada
    Replied: 6/26/2013
    Law Offices of Joseph A. Mannis
    Law Offices of Joseph A. Mannis | Todd Mannis
    Sounds like a bankruptcy to me. You've tried everything else, as you should, and you're not getting anywhere. You're unable to pay your debts as they become due. That's what bankruptcy is for. Fresh start.
    Answer Applies to: California
    Replied: 6/26/2013
    Michael B. McFarland, P.A. | Michael B. McFarland
    Bankruptcy may not be your only option, but you should consult with an experienced bankruptcy attorney to find out what forms of relief are available.
    Answer Applies to: Idaho
    Replied: 6/26/2013
    Law Office of Robert Sisson | Robert Sisson
    Bankruptcy seems appropriate.
    Answer Applies to: Wisconsin
    Replied: 6/26/2013
    Danville Law Group | Scott Jordan
    It is hard to say if bankruptcy is your best option without additional information.
    Answer Applies to: California
    Replied: 6/26/2013
    Deborah F Bowinski, Attorney & Counselor at Law | Debby Bowinski
    Set up a consultation with an experienced bankruptcy attorney to review your options. Most bankruptcy attorneys will offer a no cost initial meeting. Without a whole lot more information it is impossible for anyone to know whether you have other realistic options.
    Answer Applies to: Colorado
    Replied: 6/26/2013
    Law Office of Thomas C. Phipps | Thomas C Phipps
    If you want to get rid of your debt and get a fresh start, a chapter 7 is your best option. If you want to try to pay a portion of the debt, you can do a chapter 13 repayment plan.
    Answer Applies to: Missouri
    Replied: 6/26/2013
    The Law Office of Darren Aronow, PC
    The Law Office of Darren Aronow, PC | Darren Aronow
    That is often the easiest, fastest, cheapest way and you will recover very quickly from a bankruptcy.
    Answer Applies to: New York
    Replied: 6/26/2013
    SmithMarco, P.C.
    SmithMarco, P.C. | Larry P. Smith
    Give us a chance to review your situation and see if bankruptcy is the only option. It might not be.
    Answer Applies to: Illinois
    Replied: 6/26/2013
    Law Office of Barry R. Levine | Barry R. Levine, Esq.
    The best advice would be to contact an attorney who does bankruptcy work for an analysis of your financial situation and a recommended course of action.
    Answer Applies to: Massachusetts
    Replied: 6/26/2013
    Law Offices of A. J. Mitchell, LLC
    Law Offices of A. J. Mitchell, LLC | A. J. Mitchell
    Strongly recommend that you schedule a consultation with a bankruptcy attorney to thoroughly discuss your situation. Most bankruptcy attorneys offer free consults in this regard.
    Answer Applies to: Georgia
    Replied: 6/26/2013
    Stuart P Gelberg
    Stuart P Gelberg | Stuart P Gelberg
    If you have tried a reputable credit counseling/debt management company and failed, they likely will suggest you consider bankruptcy. The test is whether you can pay your debts as they come due. If you can't bankruptcy is a good option for you.
    Answer Applies to: New York
    Replied: 6/26/2013
    Law Office of J. Thomas Black, P.C.
    Law Office of J. Thomas Black, P.C. | J. Thomas Black
    You need to make an appointment with an experienced bankruptcy lawyer, to review your circumstances in detail. 25 is an awfully young age to have to consider filing bankruptcy, but an experienced and competent attorney will review all of your options with you.
    Answer Applies to: Texas
    Replied: 6/26/2013
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