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Well, where do i begin? I'll start by explain how this all happened. i was 22 and happy to be living on my own. I had a sales job that i performed well in and my paychecks matched my hard work. Along with those paychecks came credit cards, 3 in fact. I was spending outside of my limit and didnt realize it or rather, didnt want to realize it. I was immature and racked up $14,000 in debt. This past holiday season i lost my job and my income took a dive to $0 a month. I could no longer make payments on my credit cards and never reached out to my creditors to explain my situation. I was frozen in place and unable to think of a solution. My appartment was evicted out from under me and i am currently staying with a friend. While looking for another job i was borrowing cash from my friend to pay for credit cards and food. Now i have a new job but it only pays me $45000 a year which is fine while im searching for a new one. Right now im paying rent to a friend, paying my loan on my car, and also paying them back for the money i owe them while is about $700 a month. ill have them paid off by February of this year. My biggest concern is how to approach this debt machine ive created, i have no one to blame but myself and i know that. im unsure of what to do. i cant afford to pay all of these credit cards on a monthly bases. that would be nearly $1000 a month according to the debt collectors. Ive been reading online and some folks have been telling me to go bankrupt, some are saying to make an up front payment of a fraction of what i owe on each card but that takes time to come up with the money. I dont know what to do. I need some sort of advise

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Deep breath... you will be fine.  $45k is plenty to live on IF you keep your priorities in perspective. 

1. Buy Food/groceries

2. Pay for Housing/Utilities

3. Pay for Transportation to/from work

Already you can make plenty of money to be able to eat, live, and work.  =)

Don't stress about banks and credit card companies.  They will call and harass you, but dont' sweat it.  There is nothing they can/do besides call you.  When you have the extra money, you can start to work with them to pay it off.  Until then, all you need to worry about is steps 1, 2, and 3.  Best of luck!

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Education Motivation

Get on the net and listen to Dave Ramsey. Do the program. Good for you on the job.

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I suggest taking the time to read the articles on this site so you can get a good credit education. There is so much to learn and it will benefit you for the rest of your life. Do not even consider bankruptcy since it will hurt your credit for ten years.  Learn about the statute of limitations on collections and how to negotiate a 'pay for delete' agreement.  There is no sense in beating yourself up for mistakes made since that won't undo them and we all make mistakes.  Just  live and learn and resolve to not make the same mistake in the future. 

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