Military family: Bankruptcy or debt settlement

I'm sorry, I don't know how this might affect a military career, but I have to believe that your family is not the only military family in a similar situation. Is there a trusted military colleague that your husband could pose this to, so see if they might know, or could direct him to someone that would know?

Bankruptcy is usually a last resort, and people have mixed results with debt settlement, though there are some legitimate debt settlement companies out there, you just have to do your homework and research them to see if they have complaints against them, dissatisfied customers, etc.

I am sorry you are going through such a rough patch and can understand that it is not doing your mental health any favors. I think most of the people on here have experienced the mental anguish that debt can bring, to some degree or another. There are a lot of knowledgeable people on this forum, so please keep posting and I'm sure you get the help/support you need.

Bankruptcy should be your last resort. It will stay on your credit report for 10 years. In my opinion you should think about contacting a debt settlement firm. However before settling down anything check the reliability of the firm.