If you are getting overwhelmed by the mountain of debts that you have acquired, it is advised that you fist consider exhausting your resources before you go for the last resort. You need to remember that there is always the choice to file for bankruptcy. But you need to consider this as your final resort. If you can help it, you would prefer if you can avoid filing for it.
It is important to note that filing for bankruptcy is not always easy, the process is long and you will need to secure the necessary figures that you will need to pay for the proceeding. So, it helps a lot that you will be able to successfully use all the cards that you have left before you will decide to declare that you have gone bankrupt. Besides, this can affect your credit score immensely so you want to avoid it as much as you can.
Always make sure that you will verify the debts first. You need to make sure that all these debts are actually valid and that you did owe them. You need to know who you owe these debts to and how much it is that you need to pay you to want to find out how much you have paid so far and how much are the remaining numbers that you are expected to pay as well.
It might help to contact an agency for credit counseling, you will be able to get a better idea of how you are supposed to handle your debt and how you can pay them back with the help of these counselors. They should be able to help offer you advice on how to deal with the payment of the debt so you will be able to get it covered and paid off in terms that would be easier and more convenient for you.
Consolidating your debt is a good idea too. This is especially true if you happen to have way too many of them in the first place that you keep losing track of what you are supposed to pay, where, and when. In this case, consolidating them all into one single debt will make it easier for you to get them paid off.
You will need to make some changes in the manner that you are spending your money too if you want to avoid bankruptcy. It is always going to help that you will consider setting up a budget too. Minimizing your expenses allows you to have more on savings which you can then use to pay off what you owe.