I am wondering about filing bankruptcy. 
I am 20k in debt @ an average of over 22% interest rate on C Cards,
along with 5k on a hospital bill. I Currently make about $12/hour 
eek.
What are the most commont types? I've heard Chap 7 is the most convenient. Why?
 
The big question is how bad does it really effect your ability to get
any type of lending in the future?

Do people who file usually regret doing so? or is it pretty easy to live with?

Thanks Much- Geoff

To answer your question will likely require more than $5 of research. 
You are welcome to set your price as you see fit, of course; but if you find
your question remains unanswered, you may find more success by
increasing the price you are offering.

You may find this helpful when choosing your price:
http://answers.google.com/answers/pricing.html

That said, if you can honorably pay off your debts (even by making
settlements for much smaller amounts with your creditors), you should
do so. It looks so much better on your credit report...and it's easier
to live with yourself, too.

Kriswrite

http://moneycentral.msn.com/content/Banking/bankruptcyguide/P42912.asp

If you are considering filing for bankruptcy then I would suggest you
hire a lawyer now.  The bankruptcy laws will change at the end of this
summer, making it more difficult to file, even with medical bills. 
Your lawyer will also be able to tell you better whether you qualify
for chapter 7 or chapter 13.  If you are currently working and will be
working for some years in the future, my guess is that you will have
to file for 13, which requires you to pay back some of your debt over
the course of 3-5 years.  You may also be required in both 7 or 13 to
sell off some of your assets.  Lawyers require you to list what you
own and the value of it (for example if you have a lot of jewlery,
etc.) Both chapter 7 and 13 bankruptcys will stay on your credit
record for 7 years which will lower your credit score, making it
difficult to open a bank account, get loans, etc.  You can apply for
secure credit cards, where you pay the creditior ahead of time and use
it as a debit card.  This may also help to increase your credit score
over time.
If you cannot reasonably pay off your debt, then bankruptcy is right
for you, that's what it's there for.  However, there are consequences
(like the one mentioned above) that you'll have to live with.
Good luck.

I can answer this first-hand.

It will take you about 2 years for creditors to start offering you
"guaranteed" credit cards. That's where you send THEM a couple hundred
bucks, and they let you use it like a credit card. Keep paying them,
eventually they increase your limit regardless of your deposit amount.
But don't screw up 'cause they charge an arm and a leg in late fees.
They also charge lots in interest rates.

Frankly, when the debts are really gone like that, you won't believe
the freedom and how much money you have. If you don't plan to make any
large purchases in the next 7 years, go for it.

As for living with myself afterwards...I did it all legally, and did
the best I could at that time in my life to straighten things out,
including consumer credit counseling services, etc. Some of them will
come right out and tell you that you're too far into debt to be
helped.

I never had any difficulty opening bank accounts or anything like
that. Just couldn't get credit for a while. Once I got my credit back,
they were all right back to increasing my balances regularly
again...far beyond what I could possibly afford again...

I think there is always an alternative to bancrupcy proceedings.

I found this company who specialise in negotiated shortfall
settlements. Theye're very professional, totally confidential and
managed to settle my debts for half of what I owed.  I didn't take a
loan or anything, they just negotiate directly with your debtors to
come to an agreed settlement.  That means no black listing, no bad
credit records. Got to be worth a call at least.

www.firstcall.org.uk

They're based in the UK but imagine they could do work overseas?