don't know what to do

[melwil25]

What is the name of your state? Arkansas
I have a lot of credit card debt that I have not paid for in over a year. I am currently going to school and do not want to loose my loans. But I really want to get rid of my debt some how. I am not sure if I should contact my creditors and start to pay them back what I can or if I should file bankruptcy. If I file for bankruptcy will I still be able to get my student loans? I need my student loans to get through school. I don't know what to do. Please help.
Mel.

 

[Ladynred]

If your loans are federally-backed, you will not lose them and bad credit will not prevent you from getting other loans. You cannot discharge student loans in bankruptcy, and they KNOW they can collect from you until you're in your grave.

If you haven't paid any of your cc's for over a year, you won't be able to deal with the original creditors. All of the accounts will have been charged-off (written off as bad debts) and they likely have been sold to collection agencies and junk debt buyers. Negotiating with a collection agency will NOT be pleasant. If you don't have enough money to pay off your debts in 2-3 payments, you might as well hang it up. You could offer settlements of reduced amounts, but, again, you'll have to have the lump sum to pay them.

There's no reason you can't file for bankruptcy. If you don't have a full-time job that pays enough for you to pay the debts, and won't have one for a while, then bankruptcy may be what you need.

Most BK lawyers give free initial consultations, talk to 2 or 3 !