Should I tell my creditors that I am thinking of filing for chapter 7 bankruptcy

I feel it is a good idea to have a goal in mind before you say anything to your creditors. Without a goal, such as seeking to negotiate a settlement, why would you tell them anything? Telling that to a bill collector is unlikely to reduce the pressure on you, because anybody can say that, whether they ever follow through or not. Creditors hear "I am going to file bankruptcy" from people all day long, so they don't give that much credibility unless you have actually retained an attorney that you can refer them to. If you are hurting financially, you should go see an experienced local bankruptcy attorney right away. That's the best way to really understand your options and legal rights. Most lawyers charge nothing for the first consultation. Good luck, and I hope you overcome these troubles real soon and get a fresh start.