Consolidation Loan

If you own a home, there is an option of borrowing against the equity in your home to pay off various credit cards. This option assumes there is equity in your home and can actually create an even worse situation if you are unable to eventually pay the home equity loan.

If none of these alternatives are workable for you, explore the possibility of filing for personal bankruptcy.

You begin by filing a petition along with a declaration of your assets and liabilities and a listing of creditors. You can find these forms on-line at http://www.uscourts.gov/bkforms/bankruptcy_forms.html

You can file Chapter 7 bankruptcy or Chapter 13 bankruptcy.