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I’m Deep in Debt and Previously Filed a Chapter 7 Bankruptcy. What Should I Do? – Juan

“Dear Steve,

I am in deep in debt with installment loan companies locally and 3 payday loan places. I owe a total of about $15,000 when combined. I am looking for a way out. I have previously filed for bankruptcy ch.7 and was thinking ch. 13 but the lawyer is charging $3500.00 to do this.

Is debt settlement a good way to go? Or is it better just to file for bankruptcy? What companies would you recommend and why for debt relief help?


Dear Juan,

The first issue is what happened that you found yourself back in debt again and needing to borrow after your previous bankruptcy? Was it something out of your control? Had you rebuilt your credit after your previous bankruptcy?

Before you start hunting for the right company I think you need to investigate what solution makes the most sense for you in your situation.

I’d suggest you first read How to Get Out of Debt. The Honest and Unvarnished Truth and The Truth About The Success Rates, Failure Rates and Completion Rates of Credit Counseling, Debt Settlement, and Bankruptcy. They will give you a great overview of what we need to deal with to get you moving in the right direction.

Then use the free How to Get Out of Debt Calculator to review your options.

Once you’ve identified a company you want to work with, then follow my step-by-step guide on how to check out a debt relief company.

Please post your responses and follow-up messages to me on this in the comments section below.


You are not alone. I'm here to help. There is no need to suffer in silence. We can get through this. Tomorrow can be better than today. Don't give up.

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About the author

Steve Rhode

Steve Rhode is the Get Out of Debt Guy and has been helping good people with bad debt problems since 1994. You can learn more about Steve, here.

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