How can I settle my debts? Things are out of hand, should I declare bankruptcy?

Can't speak to that without more details (e. g. what state are you in, how much debt are we talking about, 'cause laws may differ). So I'm bumping this topic for those who know more than I do.

Have you tried negotiating with your creditors, e. g. asking if they'd take, I dunno, $2,000 on a $15,000 debt? You'd be surprised at what they'd take. Often they just want to be paid something. But you won't know unless you ask.

thanks!

I had debt over several credit cards and found that it was a slow process but eventually succeeded. First I combined all my debts onto one credit card by using the benefit of balance transfer to a one year zero interest card. I cut up the card so I could no longer put any new purchases on it. Every month I paid for my expenses in cash, everything left over went toward the credit card debit. Once the zero % interest expired, I added the interest charges to the monthly payment I was making or searched around for another zero interest card which I could transfer to. The thing I had to be careful of was to make sure the money charged for the balance transfer was lower than the potential interest charges. The biggest thing was to make sure the monthly payment was far and above the 'minimum' payment specified on the bill.

Not sure if this will work in your state/country however, so definately talk with your creditors first and see what they can do. Tell them you are doing your best and ask that they work with you. It can't hurt to try.