Background:
Hello everyone!
I found the site through a Google search. I'm considering filing bankruptcy because I really can't see a way out of my situation. I'm sure I'm not alone in this. I'm 24 years old, and I just graduated from college with a Bachelor's degree in April. My last semester in school (Jan.-Apr.) I was unemployed and lived off my credit cards.
I have three cards: Capital One, Chase, & 1st Financial Bank.
Finishing up my degree I did not have time to work - I realize now that living off my cards wasn't the wisest decision but hindsight is 20/20. After graduation, I was unable to find a job. I had to move out of my apartment because I couldn't afford rent and move back with my parents.
My parents are also financially stressed and are unable to help me out above room & board.
I have not made a payment on my credit cards since April, as I've been unable to afford to.

My total debt is around 9,500. My minimum payments are more than I can afford. I have creditors calling non stop.

I do not know what to do. I just got a letter from a Collection agency saying they are in charge of my Capital One debt and will take me to court in 30 days.

I'm thinking of filing for bankruptcy. Anyone have any other thoughts?

Hi, kiviki!

In my opinion, considering filing for bankruptcy should be the last thing that as person should consider. I wouldn't do that until all else has failed.

Have you called the credit card companies to speak with them personally about your situation? Also, what was your major in college, please?

Thanks!

I know you are stressing now, but please avoid bankruptcy if all possible, It will ruin your credit for years and when you do get a good job and need to get a car
That bk will show on your credit report like a sore! And then your interest rates will be high
Try working out a payment plan. Maybe you can find a small job even part time to start paying off these debts I know $9500 is a lot but I know of people who have cc debt more than that and worked out payment plans and took even the littlest job to start paying them off. Its hard but it can be done.