bad deal either way .
will be treated as filling bankruptcy if u try fot loans.
visit dave ramsey.com to learn ur hard lessons from others mistakes.
cheaper easier faster less pain.

Just a few observations….

I am not impressed with all of the suggestions to check out Dave Ramsey or Suzy Orman’s sites….from what I could see they are more interested in selling their books and programs then in helping you out.

And even worse…most of the info they give is already readily available in the internet. All you have to do is spend some time researching it.

Credit Repair Services are a joke. They do the exact same thing that you can do yourself, and they charge you a very large amount of money. It also has a bad impact on your credit.

Debt consolidation is a good way to go, but you need to be aware of the traps.

What many people do is run up credit cards, then get a consolidation loan to combine the cards together and get their payments lower each month. The problem is they turn around and run up the now-empty credit cards again. The end result is they are twice the amount of debt, and end up filing for bankruptcy. I’ve seen this happen to dozens of people.

As long as you understand this trap and can control your credit, go for it.

If you need to find the easy way out, look for a non-profit credit counseling service that will help you out with all of these problems.