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PinkBeach

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I have substantial debit. I would say close to 15,000. I just lost my job and am worried.
I have several loans and credit card debt totaling close to 15,000. I lost my job 10 days ago. Not sure when I will find another job. In the meantime, I am making my payments on time, however . . . what if I do not find work for a while??? Should I file bankruptcy?

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First thing to do is to notify all creditors of your situation.  They are much more cooperative when you do and may have some payment options that will help you even more.  Focus making payments on the survival necessities--housing, utilities, food, transportation--and the rest of the bills will have to take whatever fraction (if any) you can swing.  No sense in paying on credit cards if you may end up on the street.  Cut out credit card spending as much as possible and keep looking for any and all work you might be able to get.  The credit cards and loans will, if unpaid, cause derogatory remarks on your credit for 7 years, but a bankruptcy will cost money to file and will total your credit for 10 years.  If you don't have something that is "secured" (car or house payments) bankruptcy is not the option, and a good bankruptcy attorney will tell you so.

You may also want to search online for Dave Ramsey and follow his advice on handling the debt because he has some good, sensible ideas.

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