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warmetal1

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I am in debt with revolving credit apx 60,000. No one will give a consolidation loan
Please help my credit score is 673 and there is no way I can pay these down. Its either consolidate or file for bankruptcy. So far no one will give a consolidation loan?

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$60,000 in revolving credit debt is significant. There aren't too many banks that would even lend $30,000 for consolidating debt let alone $60,000 unless you use something major as collateral such as a house or a car.

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How old are these loans? If close to 7 years don't do anything, creditors cannot legally collect on debt after 7 yearsd (depends on state, but i have not seen anything over seven years). Check the law in your state:

http://www.bankrate.com/finance/credit-cards/state-statutes-of-limitations-for-old-debts-1.aspx

They can sue you, but if the 7 years have passed cannot legally collect (note you still need to tell the court if you receive a letter from the court saying you're being sued). Are the creditors chasing you on a regular basis (if it's close to 7 years, don't respond to phone calls / letters from creditor) But, DO respond to court notices. Have they sued you?

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Don't file bankruptcy, that will mess up your credit for years.  Instead, try to negotiate down the debts yourself or use a legitimate non-profit company like NFCC.org to get a negotiated settlement.  You may qualify for a hardship debt-management plan through them. 

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