Ruth,

The whole purpose behind a bankruptcy is to give people like you a genuine chance to start all over again.

You’re definitely not going to make it by holding on to your iron-ball debt.

In regards to the moral issue of buying two new cars, I’ll leave it up to you and your conscience, but you’d better have something reliable to take you or your husband to work, if not, you’ll be shooting yourself on the foot.

It’s more of a transportation rather than a “collateral debt” issue.

Having said all of the above, you do have a point. First, consider calling your credit card company, tell them you will be filing for bankruptcy, and that you’re willing to listen to a settlement offer.

You’ve got nothing to lose. If you don’t like the offer, you walk to the court.