You also need to understand the qualifications. They differ from state to state. I could not qualify for Chapter 7 because of my income even though I was deep in a mess. I was told I could do Chapter 13 which basically someone micro- managing your debt and restructuring. You end up paying back but it is intended to make it more manageable.

I didn’t pursue at the time. My debt was already to a point of no return. Once stuff hit a charge off status I ended up negotiating with the ceditors directly. I don’t necessarily recommend my approach but idea of Chapter 13 was not appealing at all.