I haveequity in my home should I use it to pay creditor collection agencies

If you have the ability to pay everyone off then it seems like that would be the right choice.

I suppose it depends on your particular situation though if it's right for you.

Well depends on what you want to do. If you file bankruptcy this will kill your credit for years, so if you want to make any sort of financial decision b/t now and then, then you may consider that. But if you have equity in the home and can qualify for a refi, I would do that, as you were responsible for those debts to begin with.