What can my friend do about the debt amounting to $15,000 and more?

Your friend should see a debt counseling service such as Family Services, Inc to see how to budget their money. The amount owed is not so much that your friend could not work out from under the debt load. However, who the friend owes may impact the ability of Family Services, Inc. to put together a work out plan. If Family Services, Inc. cannot help your friend, then the friend should go see an attorney who represents people in consumer debt issues including bankruptcy. No one wants to file bankruptcy, but, sometimes it is the only option. Just as surgery may be the only way to handle a medical problem, bankruptcy may be the best option for your friend. Your friend needs to listen to Family Services advisers and/or attorneys who deal in this area of the law. Too often, people listen to street advisers who do not have all of the facts. In the end, your friend will have to make the decision as to what will work best for him or her. That decision should only be made after meeting with professionals who will give your friend advice. There is financial life after bankruptcy or a debt workout. Doing nothing is the worse thing to do. Many famous and successful people have had financial problems. What you learn from the experience may actually make someone more successful later in life.