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What's my best option, CCS or BK?

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Posted by Kendall ( on September 19, 2002 at 09:19:44:

I've been in the computer industry for the last 7 years and with the downturn in the economy all the jobs have dried up. I've been unable to find consistant work over the last 2 years and have taken on considerable amount of CC debt. With the market not looking like it's going to change I've decided to go to college full time to change to a different profession. Because of that the only income I will have is from a part time job, which will account for very little income.

I live in Kentucky and currently have around $26,000 in CC debt. I own my home but just refinanced it from a 15 to 30 year mortgage to reduce my payments. I will be receiving about $8,000 cash back on the refinance which I plan on using to pay off loans to family members and make a few of my house payments so I will have a little room to breathe.

I look to be in school for the next 6-7 years, including summers, going for a dual masters, and am wondering if my best option would be a debt consolidation service or just to file bankruptcy.

Thank you,

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