Credit card debt is frustrating. You borrow some money, and start paying it back. If something strange happens, like you forgetting to pay one of your creditors and you are a couple of days late then your credit cards may raise your interest rates substantially. If you multiply the APR interest rate times the amount of the debt and divide that number by twelve then you will see the amount of monthly interest that you are being charged by your credit cards.
The bankruptcy code was changed in 2005. For all bankruptcies filed after October 17, 2005, the debtor must undergo a Means Test analysis. The Means Test was written into law by Congress with the intent of making most people file a Chapter 13 bankruptcy rather than a Chapter 7 bankruptcy. That attempt by Congress failed. An experienced bankruptcy lawyer can help you determine which chapter is most beneficial for you and exactly when is the right time for you to file.