From the perspective of credit report and score, which is better settlement or bankruptcy?

Actually, it depends on your situation. A settlement is better as you can solve your debt problems without the involvement of the court. However, when you're struggling with debts and not being able to pay it off, bankruptcy can help you give a fresh start to your financial life. So, analyze your financial situation and make a decision accordingly.

Tough to say. Usually, people doesn't recommend filing bankruptcy since it hurts credit score. But that isn't the case. Bankruptcy can help to uplift your FICO score. It can lower your credit utilization ratio and pull up your credit score. Once your debts are discharged, your credit utilization ratio could become zero. Your credit score will automatically go up.

It depends on your situation totally. But personally I would prefer debt settlement. It is because you can settle your debts into a lower amount and save. Your credit score might get a blow but you can build it again later.

It depends on the debt amount and your current financial situation. If the amount is big but not huge, you can go for settlement. But, if you don't have a income source ans you are in huge debt, the file bankruptcy to start a fresh.