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JeffB8033 decided to share a decisión with other Simonites. Here is the summary.
Posted By: JeffB8033
Decision Name: Should I pay off my debt?
Date: October 08th - 2009
Description: Pay Off or Go bankrupt
Simon says: Declare bankruptsy

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Primary Personality
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Secondary Personality 		Intuitive
Decision style: Intuitive
Important


Decision Outcome
Decision Outcome Decision Outcome Decision Outcome Decision Outcome Decision Outcome
Selected Tools

My Scores
My Alternatives
My Factors
 pay off debt
 Declare bankruptsy
 Don't pay off debt
 Pay monthly minimum
 
 Quality of life
 Happiness
 Avoiding stress
 Budget
 Income
 Costs
 The economy
 Gut instinct
 Self-esteem
 Resources
 Avoiding consequences
Overall Results
How Simon calculates the result
Declare bankruptsy scored 17.00% higher than the next best option Don't pay off debt
1 Declare bankruptsy 83.03
2 Don't pay off debt 71.21
3 Pay monthly minimum 25.45
4 pay off debt 24.24
Results by tool for top 3 alternatives
    Declare bankruptsy Declare bankruptsy   Don't pay off debt   Pay monthly minimum  
0 My Scores 83.03 71.21 25.45
  Simon Points   83.03   71.21   25.45
Simonites' Comments (2)
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JeffB8033(owner)
2009-09-29
Thank you for you feedback. Much appreciated.
Roland Kratzer
2009-09-29
I would try to negotiate a reduction in your debt before moving forward with a decision. If you were able to structure a payment plan that reduced the principal balances, reduced the interest rates, included monthly payments that worked for your budget and reduced your stress level that seems preferable to bankruptcy, monthly minimum payments or a complete payment. If that was unsuccessful, then bankruptcy might be for you.
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