What should i do?

Don't consider bankruptcy. You can enroll into a debt settlement program. This program is for those who get stuck in between consolidation program and bankruptcy.

Your debt is a huge total. If you consider consolidation, it will take very long in becoming debt free. You have to pay the principal amount in the program and that also seems to be quite high.

Debt settlement will be a good option. The settlement company can reduce the debt into half after going through your account. If this is done, you won't have to consider the option of filing bankruptcy. You will be back in shape after figuring out that debt settlement is the right choice for you.

If this doesn't work, you have the last avenue in place.

While credit and finances are important in the game of life, and this matter must be dealt with, I think you should put things into perspective first. Money and credit is so not worth making yourself sick over. This too shall pass. Think about it, what's the worst that could happen? Bankrupt. Yeah it sucks, been there done that, but it's not the end. Besides, as stated above, you have other options to explore first. It's a hurdle, but not one you can't handle. And with the support of all these wonderful people here, who have been there too... it's a piece of cake! Take control! And just breathe. It's only life. Hang in there.

Also, with the new bankruptcy laws, it may mean coming up with a lot of money upfront before you can even file bankruptcy. Orake and Bobbie are right. Leave that as your very last option. I've been there, and it's no picnic. You'll be pleasantly surprised, too, what a good debt settlement company can do for you. Good luck, and keep us posted.