Should I choose Bankruptcy or consolidation to solve my debt

You should consider filing bankruptcy only when you don’t have other options left. This is considered to be the last resort in solving your financial situation. Bankruptcy puts a negative impact on the file for 10 years. Also, there are attorney and other court costs as well as filing fees.

When a person has filed bankruptcy, you will be possibly losing all your hopes in acquiring new credit. You can choose a counseling program to steer out of the present problem.

Generally consolidation is widely viewed with a positive approach by most of the creditors. They find you making regular and timely payments through the consolidation program and a dedicated effort to resolve all the related debt problems. Once your accounts are complete, the creditors report your accounts to the credit bureaus with positive updates.

yeah, agree to what ben said.
it is always best, no matter how dire the situation, to try consolidation first.
Only if you have absolutely no where else to turn then, you should consider bankruptcy.

Becides, if you go with consolidation, it will have a positive effect on your mental health as well. You will be working with a consolidation agency to pay off your debt at a pace you are comfortable with.
You will also have the feeling of accomplishment when you do this.

I dont want to unnecessarily add more to what ben said, but just that consolidation really helps you get through your problems as far as debt goes.
The less people we have filing for bankruptcy, the better.

Bankrupcy is so long and expensive too! You have to pay legal fees and it doesn't discharge everything over night! Consolidation company retainers are much smaller and they get right on the ball!