Do you feel the walls caving in and fear bankruptcy is your only option?

Contact the NFCC and get honest help in assessing your options. If you aren’t eligible for a DMP, the counselor will try to find a workable alternative to bankruptcy. Only about 10 % of their clients have ended up in bankruptcy.

That said, if in fact you owe more than what you make; if you have tried every which way to pay your bills, including working a second or even a third job; if your debt keeps growing and you are being charged 32 % interest and you can’t se any way out, then bankruptcy may, sadly, be an option for you. Just remember that bankruptcy will destroy your FICO credit score, but then again, if you have been behind in payments your FICO score is probably already prey low. Bankruptcy is really a last resort when you have tried everything else. This drastic step requires the most careful consideration. You will want to find a reputable attorney who can explain the current law, the pros and cons of filing, and the different kinds of bankruptcy.

You are being harassed at work by calls from collection agencies.

The Fair Debt Collection Practices Act (FDCPA) restricts tactics that debt collection agencies may use. They cannot call you at work if they know your employer prohibits such calls. Once you tell them this, they have to stop the calls; it’s wise to follow up with a letter. Show you know your rights by informing them that under provision 15 of the U.S. Code, section 1692b-c, the letter constitutes formal notice to stop all future communications with you except for the reasons specifically set forth in the federal law.

Collectors also cannot phone your home so often as to constitute harassment and they cannot call before 8 A.M. or after 9 P.M.