You should first contact your credit union to determine if it can consolidate your debt into one loan with one interest rate or refinance your existing debt at a lower interest rate. If you financed your car through the dealership, the credit union may be able to refinance the loan at a lower interest rate. The credit union can calculate what your monthly payment will be so you can figure out if it's less than the amount you pay now on your obligations.

Bankruptcy is a last resort. It will have a negative affect on your credit for several years. Also, your student loan would not be dischargeable in a bankruptcy unless you can prove that paying the student loan would be a substantial hardship.

In order to maintain good credit, make sure to pay your bills on time each month. It's to your advantage to pay your bills early, if possible, as that may result in an increase in your credit score.