If you're at the end of your rope with collection calls and dunning notices, bankruptcy may be a reasonable option for you.  It may not be the only option available to you, however.  In certain situations, creditors will settle for less than the face amount of the debt in order to settle the debt once and for all.  That kind of settlement often requires some cash to pay toward the debt.  Keep in mind that if you do settle a debt for less than the face value of the debt, the creditor may issue you a 1099 at the end of the year thus increasing your annual income for tax reporting purposes.

    The new Bankruptcy law which took effect in 2005, requires that I identify myself to you as a Debt Relief Agency.  I take that seriously and attempt in every way to relieve you of the stress your debt is causing.

    Nolo ( www.nolo.com )has included on its website a simple test that you can use to determine if you might be eligible to file a Chapter 7 Bankruptcy. The test is merely a starting place and other factors affect whether you would be eligible for a Chapter 7 discharge.