Should I Try Debt Relief Before Considering Bankruptcy?

[liz02may]

Hi everyone,

I’m fairly new to all this and still learning, so I’d love some advice from those who’ve been through it. I’ve been feeling overwhelmed by credit card debt and late payments, and I’m not sure if bankruptcy is my only option.

I’ve been looking into debt relief programs that help negotiate or settle accounts before things get that far. One company I came across is Float Debt Solutions, which offers customized plans for people trying to avoid bankruptcy.

Has anyone here tried something similar before filing? Did it help improve your situation or just delay the process? I’d really appreciate any insight or personal experiences.

Thanks so much for your time and support — this forum has already been a huge help to me.

— Liz

[Carmella]

Someone correct me if I am wrong, but don't these debt relief programs have a high failure rate and many who try it end up in bankruptcy?

And if balances are negotiated you need to have cash to pay it off. And the amount they forgive is added to your income meaning you pay more taxes.

Again if I am not correct on my understanding someone, please correct me.