<prompt> Human: So I have approximately 25k in credit card debt and Im weighing my options as far as possibly filing for Chapter 7 bankruptcy. I have accrued the debt over the course of the last ten years or so since turning 18. I feel like I am suffocating under the weight of this debt. I am paying approximately 600mo and that is only the minimum payments so Id assume it will take me years to pay that back at that rate. I have other debt too including student loans totaling around 15k but I know I am stuck with those. I also have my car loan for around 10k but I would like to keep that since my mom cosigned for me and I dont want to mess with her credit.My main question is should I file for bankruptcy? I feel like I am wasting 600 per month since I will never pay it all back anyway. I cannot move out of my mothers house either because such a large portion of my income has been going towards credit cards. I actually lost my job about a month ago so that makes things worse. I think my best bet would be to file for bankruptcy since I am only 28 and it will only affect my credit until I am 35 so I will still be young at that point and might be ready to buy a house by then. On the other hand, if I do file for bankruptcy, I dont want that to affect me getting a job or being able to get my own apartment. If I dont file though, I wont be able to afford my own place anyway unless I am making 3,000 per month or more to offset the 600 to 700 per month on the credit cards.Would it be better option to just stop paying the bills and let them go to collections and eventually be charged off? I dont want to keep paying them and wasting 600 per month but at the same time dont want to hurt my chances of getting a good job or moving out by filing bankruptcy or having my accounts go to collections. The struggle is real... any advice?  <response>: If youre going to declare bankruptcy, dont let the bills go to collection first. If thats your only option, you are bankrupt. File the paperwork right away and put the problem behind you as soon as possible.Smart people declare bankruptcy before they ruin their credit. That makes the only scar on your credit the bankruptcy, which means that in about 2 years with good care you can have a good credit score again. If you let things go to collections, you are looking at 7 years.If and when you try to negotiate your debts down, do not allow that negotiation to harm your credit. If thats going to happen, bankruptcy is the better long term option for you.Regarding the car, I would sell the car for what you owe - not a penny less - and pay that off to save your mom. I understand you lost your job and things look pretty bleak right now. Look around for on-demand work. It will take a few weeks, but it will carry you through a month or two of minimum payments while you learn your options, learn about bankruptcy, and figure out a way through. By on-demand work, Im talking about things like postmates, etc. - the ride-sharing economy.Chapter 7 isnt always available. If you have any money saved up, it will be carved out. The judge wont just look at your current finances, he will look at what you should be able to make. If he thinks you can pay for things, he will push you to Chapter 13 and do some sort of payment plan.Once you file bankruptcy, you get a small reprieve. There are some debts you still continue to pay, some debts you cannot pay, some debts you cannot pay temporarily but will still be obligated to pay after the discharge is over. Read and learn.Also look into getting your bk filing sealed. Not having it in the public record may not seem important now, but one day it might be.All that being said, 25k in debt with no rent... that doesnt sound like an impossible problem to resolve. At 1k month, thats gone in 3 years at 24. At 900 month its 3 12 years.You can do that with a retail job and no rent. It would be best if you started looking at where your money is actually going. 