I have recently been given notice that one of my cc companies is garnishing my wages. My credit is ruined right now (probably in the low 500's) and I have several collection accounts on my credit report. Would it be better if I just filed Chapter 13 bankruptcy? It probably wouldn't hurt my credit rating any more than all the other derogatory things on my credit. I'm still going to have to suffer for the next 10 years. At least with Chapter 13 I can start repaying these people back without the threat of garnishment or judgements. What do you think?:confused:

Chapter 7 is better than 13 unless you are going to pay back at more than 70 percent ( determined by your income and budget to debts)

The way Chapter 13 is treated, if the payback is lower than 70 percent, it is actually treated under the new laws much like the chapter 7 as to the rules of refiling.

So if the majoriy of the debts are all credit cards, consider the 7, the 13 will not make you look any better unless you are paying a higher percentage