MasConcepts Incorporated

I’m at a breaking point and need some outside perspective from people who’ve actually been through this. I’m in my early 30s, self-employed, running a small service business. Income is inconsistent, especially lately — weather slowed work way down, my truck just broke, and cash flow is basically dead right now. Here’s the situation: I owe about ~$30k in credit card debt I’m currently (or was) in a debt management program with ~$700/month payments I simply don’t have the money anymore I’m behind, stressed nonstop, and honestly exhausted trying to “do the right thing” Right now I’ve got about $350 to my name. I literally can’t pay the program, can’t pay the cards, and don’t see a short-term way to magically fix it. Every month feels like survival mode. I’m seriously considering just stopping payments completely — not just this month, but altogether — and letting things fall where they fall. Part of me feels relief at the idea of not constantly panicking over due dates. Another part of me is terrified I’m making a long-term mistake. I keep going back and forth between: Just stop paying and deal with collections later Or start seriously looking at bankruptcy (Chapter 7?) What I don’t want is endless vague advice or moral lectures about “honoring debt.” I want to understand the real consequences, from people who’ve actually defaulted or filed bankruptcy: What actually happens when you stop paying? Did it ruin your life, or was it survivable? Did bankruptcy give you relief, or regrets? Is it better to stop paying now and decide later, or start planning bankruptcy immediately? I’m not trying to dodge responsibility — I’m just burned out and trying to choose the least damaging path forward. If you’ve been here, I’d really appreciate hearing how it played out for you.