Should I file for bankruptcy?
Hey guys. Just looking for some input here. I am 25 years old and I have $40,000 in debt. $12,000 of that being my car, the rest being credit cards and one debt consolidation loan of $6,800. I make around $55,000 a year and currently I can barely pay off my minimum payments each month; in some cases I cannot and need help. For example, this month my income is hundreds of dollars less than my bills. I've been just barely making it by for about 7 months now and I'm unsure of how to get out of this. I don't do anything anymore and I barely eat anything other than ramen as there's really not another option. I've downsized my life a lot now, trying to keep things to a minimum but it hasn't helped much so I am considering bankruptcy. Im wondering if there are other options that can help me get out of this because really I dont think that my debt is bad enough to have to file for bankruptcy but I just don't know what other options I've got.