Settlement or Bankruptcy?

lisa...I'm afraid this is one of those situations were you have to go by what's best for you. 69K is a large amount of debt..and being on a strict budget for 3-5 years is a difficult thing to do also. You have to take into consideration your future earnings and what if something happens...medical issues, car problems, would you still be able to maintain your budget for the consolidation?? I don't know how old you are either...banruptcy will stay on your report for 10 years...do you plan on trying to buy a house in that time?? Only you can balance off all the things that have to go into your decision...do as much research as you can and then go with what feels best for you and your family.

We own a home now so we don't need to buy a home in the near future. But I don't think we can swing payments for three years of over $1000.00 per month. I am just wondering if it is true that stretching this to 5 years would land us in court. I really don't want to be there.

I would agree to that...and that is a large amount of money over the next three years. I know this is a hard decision for you to make and honestly it's hard for me to say what you should do.