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creditamavena

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would filing bankruptcy improve my credit rating?
My debt is $45000+ and I haven't made any payments on those accounts (credit cards only) for 18 months so they are all delinquent.

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Bankruptcy?? Not a good idea.

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So, has the credit card delinquency been due to job loss, or over-spending?  Either way, your credit rating is hurting right now, but filing bankruptcy over credit card debt would be like shooting yourself in the foot.  Credit cards are an "unsecured" debt because there is nothing concrete that a creditor could lay claim to, unlike a mortgage or car purchase.  I would suggest checking with Consumer Credit Counseling Service.  They can help you develop a reasonable budget  to help repay these cards and could negotiate a balance reduction to make the repayment more productive.  

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