Bankruptcy should always be the last resort. Just get help from a trustworthy debt consolidation firm.

Hi, which one is beneficial – bankruptcy or debt consolidation? I was ill a few days back and was in the hospital for bed rest for over a month. Due to this, I've accrued over $20,000.00 in CC debt with a few credit cards. Now the creditors are calling me and sending letters. Should I file for bankruptcy or do a debt consolidation? Any advice would be appreciated!

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Bankruptcy should always be the last resort. If you've tried everything to get out of debt but failed, then you should bang the doors of bankruptcy court and file one. Otherwise, don't. Just get help from a trustworthy debt consolidation firm. I hope something will turn up for you.

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For such credit card debts, debt consolidation is usually the best way to get out. And a professional debt consolidation company could certainly help you do that. You could, however, also file for bankruptcy. But filing bankrupcty should always be avoided in the beginning and should be treated as the last resort. Bankruptcy is a very complex and heart-wrenching procedure and moreover just ruin your credit history.


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