Bankruptcy alternatives

What is the name of your state? NM

Can you tell me 'all' the alternatives to Bankruptcy ?

I was reading on the internet the other night, that if you can't afford to pay your debts any longer, and you don't have any assets (or almost none), and your debts are mostly credit card related (and/or store credit card), that you could just stop paying them (or certain ones that are extremely high, with high interest), and that there's not much anyone can do to you because you're not worth them taking to court if you have no assets, and they don't put people in jail for not paying their debts. I also read that if you continue to pay on some of the lower interest credit cards and pay them off, that it will help to re-establish your credit in a few years. I hope someone can give me good legal advice with this one, as I'm seriously considering Chap 7 soon.
Thanks !

[Ladynred]

Do you work and earn wages ??? You may not have any assets in the form of property that they can take, but the can garnish wages, sieze bank accounts and get judgments against you for not paying those debts. Those judgments tend to be renewable and will last a LOT more than 7 years on your credit report, poisoning it in the process. If you live in a state where garnishment is not allowed, then the judgments will sit there and they will periodically call you into asset hearings to find out if you've gained any assets they can take.

As you can see, it can get VERY ugly and stay that way. What little you may gain with the cards you pay will be overshadowed by the charge-offs, collections and judgments on your report.

Ch 7 may be a better option. Sadly enough, you can recover quicker credit-wise after a BK than you can the other way.