$35,000 in credit-card debt: is bankruptcy or a hardship programme the better option?

A person carrying $35,000 in credit-card debt is weighing three options: filing for bankruptcy, working with a credit-counselling agency, or enrolling in a creditor hardship programme. Bankruptcy can eliminate debt quickly but damages credit scores for years. Credit-counselling agencies can negotiate lower interest rates and structured repayment plans as an alternative to insolvency.

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📈 Business Consumer bankruptcies hit record high, up 25% year on year Bankier.pl · 23h ago 📈 Business 67-year-old with $2.8M in homes and $19K credit-card debt asks: should I get a HELOC? MarketWatch · 13d ago 📈 Business How to Pick the Right Debt Repayment Method for Your Situation CNBC · 19d ago