we need anyone's help

[raiders]

My wife and I owe $38,000 in credit cards and have like $18,000 in student loans. After all our bills we only have $300 a month for food, clothes, and household items. We are seriously at our wit's end with what to do and could use anyone's help. We have two cars that are junky and will need to be replaced soon. Please help us!

[ForumReader]

My wife and I owe $38,000 in credit cards and have like $18,000 in student loans. After all our bills we only have $300 a month for food, clothes, and household items. We are seriously at our wit's end with what to do and could use anyone's help. We have two cars that are junky and will need to be replaced soon. Please help us!

If you are becoming insolvent and unable to keep up with bills, then I suggest you go get some free consults from bk attorneys in your area. Go see them in person, not on the phone or online, but in person. Ask them your concerns and find out if you qualify for CH 7 or 13. On the other hand, if you are thinking of filing for bk, then stop paying your ccs and save up money for attorney fees if you decide to hire one.

[Ann]

If you are becoming insolvent and unable to keep up with bills, then I suggest you go get some free consults from bk attorneys in your area. Go see them in person, not on the phone or online, but in person. Ask them your concerns and find out if you qualify for CH 7 or 13. On the other hand, if you are thinking of filing for bk, then stop paying your ccs and save up money for attorney fees if you decide to hire one.

I 100% agree with ForumReader! Go to at least 3 bankruptcy attorneys and see them in person. In the meantime read these boards here as much as possible and ask as many questions as you need to. This forum has empowered me like nothing ever could have. As good as my attorney was I still got 99% of my information here on how to handle my own bankruptcy. Good luck and keep us posted. One year ago I thought my world was crashing down on me and today life just keeps getting better!

[goodyphilips]

I think you can also consider debt consolidation plan, it mergers all your loan into single one and you will be making single monthly payment which will be lower than the earlier one.

[DebtHater]

With the amount of debt you have I agree with the others that consulting with an attorney is a feasible option. A debt consolidation plan may help but will not guarantee a lower monthly payment.

One thing that has not been mentioned is the method in which you are prioritizing your expenses. You state "After all our bills we only have $300 a month for food, clothes, and household items". This is telling me that you pay your credit cards first then take care of your other expenses (I made the same mistake). Realistically, what you need to do is pay your living expenses first, then what ever is left over put towards the credit cards.

This is my recommendation. Develop a budget. On a monthly basis write down what you make. Then deduct your expenses by priority. Food, shelter (house), utilities, clothing, etc. Second to last I would put student loans as they are not bankruptable and very last (if there's money left over) your credit cards.

Every month you write a new budget and adjust as necessary.

[goodyphilips]

You are bang on debt hater, couldn't agree with you more.