What has changed with the newer laws for bankruptcy?

[Cindy]

I started with around $30,000 in credit card debt a few years back and decided instead of filing bankruptcy to start paying them back by settling accounts at less than the balance owed on each. Now two years later I have paid 5 cards off and still have four left with around $20,000 of debt left from 4 cards. I remember hearing the old laws used to wipe your debts clean and give you a new start. Now with the new laws, I guess they make you pay your debts back. How much do they make you pay back? Is it worth it to do this b/c of the 7 years that this mark goes on your credit report? How much does it cost to hire a lawyer in Connecticut to file for bankruptcy? Would it just be better to do what I have been doing even though it takes a while to get out of debt this way? My credit is already ruined with all these cards having a negative affect on my report, but as I am paying them off little by little the score is rising and getting better each year.

[Oldboy]

You are doing it right. BK will stay on your credit for 11 years not 7.

Here is a little trick if you can do it. If the credit cards you paid off are still open keep them open.

Hide all your cards and never use them again but by keeping them open it will improve your FICO score. One of the factors used to determine your score is how much you have available to borrow and what the balances are.

Good luck seems like your doing the right thing.

[Blessings]

You are handeling your sitituation the intelligent way.
Although, it may take a lot longer, I think it is best that you just keep plugging at them one at a time.