Help for middle class family trying to make ends meet.?
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my husband and i are making about HALF what you make. i suggest you sell the house. my husband an i haven't made the mistakes you have made. we have ONE credit card bill. i WISH we had your incomes. maybe then I'd feel safer starting a family. I'm sorry, but i feel nothing for you.
file bankruptcy. then you'll lose everything, and your credit won't be fixed for 7 years. see what spending more than you earn can do for you?
Help for middle class family trying to make ends meet.?Either you need to increase your income, budget your current income better, or get rid of the loans somehow.
First of all, selling your house and getting a far cheaper house at a cheaper price, thus freeing up funds to cover the other debts, is an option, but since your credit isn't too flash, you're unlikely to get a home loan or a good deal on one if you do. You'd pay higher interest. Plus there would be moving costs. However, this is still an option if you can bear it. You may even be able to rent in the interim to get rid of your debts and work at getting better credit history.
You're both working, and you have a child. This makes childcare a potential expense also, which makes taking on extra work more difficult. I suggest you go through your budget if you haven't already done so and find every available cent to pay on the debts. This means buying only generic products, packing your own lunch for work, and not eating processed foods. Make your own curries, pastas, and stews, and buy in bulk if it's cheaper (use the calculator function in your mobile phone to find out what the best deal is).
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