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I am not sure whether filing bankruptcy is a good idea.
I really want to file bankruptcy to get rid of all this debt, but I am not sure it's such a great idea because I want to buy a house within the next couple of years. None of my bills are late, I just feel overwhelmed with all the debt. My credit score is poor because of recent account openings, credit cards maxed out, and some collections for medical bills. I have many credit cards, high interest loans, and a payday loan. I'm just not sure if I want to file bankruptcy or just continue to struggle to pay these debts.

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Just my opinion

If you are overwhelmed with debt and can only make the minumum payments you can either be poor and struggle for many years, or whipe all of that out with BK and start over. I'm sure it wasn't your intention to get so far behind and have all this debt accumulate. If your score is already poor, what would it hurt to either file BK or a Debt Relief program.

If you file BK now it will still be hard to get a house in a couple years. Obviously, if you keep paying all your bills on time (and dont charge more like most of us do) your credit will improve and it will look better for buying a house. Still dosen't mean you will be able to get one with high debt and I would imagine no down payment since your patying all your debts off.

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in a similar situation

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for one, if you aren't late on payments and have the ability to pay, you may not be able to file bankruptcy.  Especially if you've added to the debts recently (i.e. made credit card purchases).

i have a lot of debt as well and i am overwhelmed. i considered both bankrupty & debt relief, but my credit score is good, i pay my bills. and like you, although i own a home (rental property) i want to buy another home in the next three years.

i would say, the best thing to do is make a plan, three to five years, and be strict with your budget. pay it off yourself. if you can get your credit score up, take out a loan to consolidate your debts to one payment with low interest. pay your highest interest card first, then the next, etc. 

also. if your debt is beyond credit cards, i.e. auto loans, student loans. consider this. bankruptcy won't remove your student loans. and bankrupty WILL remove your vehicle. so you wont have a car any longer either.

good luck and breathe!

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Bankruptcy is not an option.

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Make sure you max all your cards, Purchase that 70" TV you've always wanted and load up on Gucci, Louie and prada before you file! I mean, That's what you want right? Free stuff?

I'm extremely overwhelmed with my debt and the thought of filing bankruptcy sickens me. It was my responsibility, I agreed to the debt when I used my cards, I will pay them. I hate you people thinking you can purchase stuff and then just let go of the debt... and in a couple of years they trust you guys again? Stupid country we live in. Once you file for government, You should only have your cash to pay for stuff. You don't have $200,000+? No house for you. Truely disgusting.

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your response is truly disgusting. why spew such hatred? you are a mean human being. he/she came here for non-judgmental advice and you sit here on your high horse. get over yourself. i'm sure you are perfect, right?

you better make sure YOUR hands are clean before you point fingers.

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