I’ve been trying to figure out my situation and whether bankruptcy is something I should seriously consider.
Right now I’m dealing with about $46k in debt, mostly credit cards and a personal loan. I’ve been staying current on payments, but the interest rates are high and it feels like I’m barely making progress.
I’ve been cutting expenses and trying to manage it, but it’s starting to feel like I might be stuck in this cycle for years if nothing changes.
At the same time, bankruptcy feels like a huge step and I don’t fully understand the long-term impact or when it actually makes more sense than trying other options.
For those who’ve researched this or gone through it, what made it clear that bankruptcy was the right move versus trying other debt solutions first?
submitted by /u/Papito24
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