Debt Collectors

well i would say then bankruptcy is the only way out but however bankruptcy only works for unsecured debts not for the secured debts

Hi, I would suggest you to go ahead and file for bankruptcy if not then have a word with the debt collectors and work out a payment plan with them.

You can try and negotiate with them, see if they'll agree to a repayment plan or a settlement. If you don't make much money, that's the best way.

Either work out an outside court settlement with them or filing for bankruptcy would be your last option.

Hi,
If you think that you are not in a situation to pay off anything to your creditor,then bankruptcy is the only option open for you,because your creditor has already taken you to court.Or else you can have a word with your creditors & try to work out a payment plan with them in case if they are interested...

The information that you have provided is not sufficient, I mean you should mention the type of debt , amount of debt and for how long you were not paying them.
You have left very few options for yourself but you can always go for a OUT OF COURT SETTLEMENT.
Before you consider the drastic step of bankruptcy you should consider all options available to you. It may be possible to negotiate with your creditors for an out of court settlement of the debt. The most important thing to remember is that your creditors are mostly concerned with recovering as much of the debt as possible and bankruptcy settlements do not necessarily always favor creditors. Because of this, any creditable offer to settle the debt out of court will be considered. Usually a creditor will take an offer if you can settle at least 40% of the outstanding debt within a reasonable period of time.
Make sure that you register whatever you and your creditor is agreeing upon.