How to handle debt?

First, we do not serve as your legal counsel and have not reviewed your documents, so we would have no way to give you the specific legal advice you seek.

Remember, both ways cost money and both require some sort of negotiation with your creditors.  Bankruptcies stay on your record for 7 to 10 years.  In terms of debt settlement companies (there is no such thing as a credit protection company), you have to pay monies out every month or week, and you need to check to see if the entity is licensed with your state's dept of banking/dept of financial institutions.

Try www.attorneypages.com and check his or her record under attorney search at www.calbar.ca.gov if you wish to consult with a bankruptcy attorney.  For debt settlement companies, check with the California Dept of Financial Institutions to determine if licensed with them.