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To go bankrupt or not go bankrupt, tis the question...
I have a 501 score and about 40K in debt. Im 27 and completely overwhelmed with trying to fix my credit. I am in jeopardy of my car being repossessed. In 2009 I lost my job and it went downhill from there. Through my crdit union I had a personal loan, a credit card, and a car loan. I could not find a job to save my life (this is when unemployment was the highest ever) so I began making just the interest payments on the vehicle loan. After my unemployment ran out I could not pay anything so my bank advised a special secured loan which would lump everything together and I would make payments of $300.00 a month. Worst idea ever! My vehicle is worth maybe 7K and I still owe $19,625. The vehicle barley works and my bank has to approve selling the truck (they wont). In addition to the 19K loan I have several store credit cards, Dr's bills, utility bills etc. I dont want to get tied up with a debt consolidation company and I am over my head to do it on my own! Any advice would be greatly appreciated! To claim bankruptcy or not...that is the question.

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