The speaker suggests a three-month period of extreme budgeting and no spending to prove behavioral change before considering bankruptcy, highlighting that bankruptcy is costly, stressful, and will impact their credit for 7-10 years, potentially limiting future housing options.
"This is what I think I might do. I might prove our behavior by budgeting like crazy. Stop paying on some of the debts. Budget like crazy. No more spending. Show that you're being disciplined. And if you can do that for 3 months, come on the Financial Autofoll channel. Let me see. Three months of statements. And if you do that and you actually budget, you don't around. Bankruptcy sucks. It ain't cheap. Few thousand bucks. It ain't stressful or it ain't not stressful, especially as a couple. Some can be less stressful, some can be more stressful. These are a lot of accounts. Um, and you got to pay for the legal behind it and it's still going to be on your credit 7 to 10 years depending. It's going to you're going to essentially have to stay at your place cuz good luck getting another big apartment complex type rent. You need to stay at your place for as long as you can."
