Only file for bankruptcy if your credit card and other dischargeable debt exceeds the value of your nonexempt assets (e.g., cash, bank accounts, tax refunds, etc.) by at least two thousand dollars, because with a bit of attorney help, a settlement could be worked out with the credit card companies. Chapter 7 is the best option if you want to discharge debt whereas Chapter 13 is to be considered if you are considering working out payment plans. The Chapter 7 filing fee is
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