@Anonymous wrote:
At your age, work more. Much more. Uber, Instacart, barback, etc.
$24,000 isn't enough at your age to file BK over in my opinion.
Work 2-3 jobs up to 70 hours a week for a year and they're paid in full.
That's good advice ^^^^^.
And something else to think about is that a bankruptcy stays on you credit report for 10 years, so until you're 31 or 32 - that's a long time for someone who is 21.
What are your credit scores? It sounds like the credit card interest is so high that most of your monthly payments go toward the interest, that's why you're not making any headway. If your scores are good enough you could apply for another credit card with a 0% interest for at least 12 months and do a balance transfer to pay off the high interest credit cards, that way your payments will go toward reducing your debt instead of just paying interest. Or you could try for a personal loan from the likes of Lending Club or Prosper, even at 12-15% that should be a lot less than your credit cards.
The key is to reduce your high interest debt, either through increasing your income from higher pay or second jobs, combined with reducing your interest expense with a 0% CC or lower interest personal loan. Bankruptcy is always the very last resort, especially for someone just starting out in life. Congrats on getting your college degree, that will be an asset all your life, and one that no one can ever take away from you.
