I would argue that you are missing another option...Settlement. Bankruptcy is like decorating a house with a sledge hammer. It will solve the problem but leave no house to decorate.
You have choices for debt settlement. You can attempt to settle with them yourself. Begin to accumulate a nest egg and begin to chop at the highest rate or most aggressive of CC companies and find a number they will settle the account for. This comes with some issues. Most often, these companies will begin to put you through legal hurdles that scare even the most courageous debtor.
You can engage an independent debt settlement company (non attorney). It is no different that the strategy of doing it yourself, however, they will have greater experience, but will often disappear from you if the creditor begins legal action.
Lastly you can utilize a Debt Settlement Law Firm, like ours, a strategy is put in place to not only deal with paying off and settling your debt (for much less than what you owe) but avoiding Bankruptcy.
