Thank you ladies!

I appreciate all of the help and advice. I'm going to work with the Dave Ramsey tool to get things paid down quicker and I AM going to continue looking for a second job.

i can only think of cons.

if you're not in 6 digit debt and have NO hope of consolidating or paying anything off... dont do it....

Quoting shes*almost*one!:" i can only think of cons. if you're not in 6 digit debt and have NO hope of consolidating or paying anything off... dont do it...."

We have about 25,000 of debt to pay off in one big credit card and three smaller ones.

helped my mum and dad get out of debt and stuff but our landord at the time found out about the bankruptcy and kicked us all out  
all 7 of us had to move into my uncles 2bed flat for 6months till mum and dad could find somewhere for us all to live.

Cons
It doesnt take away medical debt or student loans
You severally damage your credit
You will have a red flag on your credit for the rest of your life
Employers check credit history and many companies will not hire if you have filed bankruptcy
You basically have no credit for 7 years
When you do start getting credit again your interest rates will be ridiculously high
You have to a hire a lawyer to file bankruptcy for you

Pros
You don't have to pay your bills like everyone else.

Quoting I♡C is TTC#2.:" We have about 25,000 of debt to pay off in one big credit card and three smaller ones."

That isn't that much in the grand scheme of things.

And why are you TTC if you cannot afford your bills?

Is it worth it for us? Or should we just keep paying what we can until something comes our way? It's not been debt we blew on stupid stuff...I mean, it's stuff we needed but the paying it back is tough when their isn't much free flowing cash.

Don't do it for only $25,000. It's basically admitting that you are irresponsible with money and will do everything you can to not have to pay back debts. You can make payment plans and even if it takes a while for it to go away, it looks better to be making a conscious effort to pay off your debts than to just make them go away.

Quoting I♡C is TTC#2.:" Is it worth it for us? Or should we just keep paying what we can until something comes our way? It's ... [snip!] ... we blew on stupid stuff...I mean, it's stuff we needed but the paying it back is tough when their isn't much free flowing cash."

I would NOT ever file bankcruptcy especially for 25k.

I owe 15k on credit cards and if you want to count my house as debt I am $160k in debt.

Quoting Smartass *Preggo!*:" Cons It doesnt take away medical debt or student loans You severally damage your credit You will have ... [snip!] ... high You have to a hire a lawyer to file bankruptcy for you Pros You don't have to pay your bills like everyone else."

We pay our bills. Not sure if you were being sarcastic or not...my husband even works TWO jobs to be sure we pay our bills/debt. We don't live on state aid of ANY kind....I kinda took offense to that.

Quoting Smartass *Preggo!*:" I would NOT ever file bankcruptcy especially for 25k. I owe 15k on credit cards and if you want to count my house as debt I am $160k in debt."

Yep, that's about us too. Do you feel like you have a plan on paying back that 15k? I'm not so worried about the smaller cards as I am the bigger cards.

Quoting I♡C is TTC#2.:" We pay our bills. Not sure if you were being sarcastic or not...my husband even works TWO jobs to be sure we pay our bills/debt. We don't live on state aid of ANY kind....I kinda took offense to that."

What other PRO do you think there is?
The only PRO to filing bankruptcy is that you get out of paying the bills you accumulated. If you are paying your bills, then why the hell would you file for bankruptcy?

Quoting Smartass *Preggo!*:" That isn't that much in the grand scheme of things. And why are you TTC if you cannot afford your bills?"

 

Quoting I♡C is TTC#2.:" Is it worth it for us? Or should we just keep paying what we can until something comes our way? It's ... [snip!] ... we blew on stupid stuff...I mean, it's stuff we needed but the paying it back is tough when their isn't much free flowing cash."

It's not worth it, but let me ask this..how much of your debt is overdue? 30 days? 60 days? 90? 120 or more? Contact the companies and send them a 'goodwill' letter, hire a credit counselor, try to consolidate it, there are so many ways you can avoid bankruptcy. It's seriously not worth it, your head is still above ground.

Several of my family member have had bankruptcies. There really aren't any cons for them. My grandpa actually didn't not finish with the bankruptcy and just let the years pass by and just bought a new car because after the time passes all the debt is gone. My aunt did finish the bankruptcy with a lawyer and it's been about 3 years. She has moved into 2 apartments since then so there is no problem there. My mother didn't actually complete the bankruptcy either (so basically just stopped paying) and it's been about 3 years. She moved somewhere recently too and her credit wasn't an issue, she is no longer struggling paycheck to paycheck just to pay debt and she's just going to wait til the time passes.