Stressed beyond belief.

[Superk88]

So not really sure what to do right now. I've been fighting the good fight and paying off debt but things are getting tight. My wife and I are also expecting our baby girl to be here end of May/June. Here is my current Finacial situation.

Collateral Debt

Truck. I owe $42,358 kbb private is $32,000

Motorcycle 1 I owe $13,238 and kbb is $7,500

My active Debt

Gamestop $356.70 this I'm gonna knock out ASAP.

Rise Credit $3,362.45 payment is $390 per month.

Net Credit $5,990.72 payment is $380. per month.

One Main is $7,295.89 and payment is $228...currently 2 months behind.

Charge off is 

Several small accounts under 1k I'm not too worried about right now.

Citi Charge of for $1,691

Capitol One for $2,462

Regional $2,469.00

They have been charged off for about 4 months now, I have gotten letters from the collections groups stating they want payments. But I have not made any contact with them.

My monthly Payments come to $2,637 that includes truck, bike, bills and utilities. All minimum payments added up.

With my average income of 800 per week I have $563 left over. Each month.

I wanna pay my bills I went throught a chap 7 5 years ago and I am trying my best to not do a 13.

I have tried my best to sell the bike but so far to no avail, I thoughta bout trading my truck for a much cheaper vehicle but no avail either because the negative equity is soo high. With baby coming I am stressed..I'm not sure what to do. I know if I ignore the charge offs long enough eventually they will Sue me but from what I read that can be a few years.  My Wife pays Mortage and her car payment. We split food and I take care alll of the Utilities.

With a brief overview would you all recomend BK13 and get in a payment plan, or find some other way to deal with this.The stress is starting to effect my sleep, eating, everything. One thing I can say is my Wife is very supportive. I don't wanna bring her into this by having to get a loan but I know a consolidation loan would clean all this crap up. 

Thank you all who replay and have a nice day.

[LakeLife]

You've not mentioned anything about your credit scores or profile other than your debt.  That will help people help you.  I don't have any good advice for you other than be amazing to your wife, because you have a keeper if she's handling your mortgage on her own.  

[Superk88]

The mortgage is soley in her name, but we both work like crazy to keep up the house.

My credit scores are 548/550/541 last time they were ran which 

[Anonymous]

You've been fighting this for so long and it's still making you sick . . . go talk to a BK attorney. At least just to see what a 13 might look like.

[FireMedic1]

You cant file a Chapter 7 again for 3 more years. Converting now to a 13 isn't going to be easy. You'll need to talk to a lawyer.

[wa3more]

No BK. Sell truck. Get rid of. payments. 

so unsecured debt of 15k ?  Charge offs could turn into law suits but  only 7k

so bk on 22k ? I would not. Do best to avoid 

[wa3more]

Just read this again. So you are negative equity on truck ??

[CreditCuriosity]

Don't really have anything else to add as I am no expert but how is a consolidation loan going to clean up this situation you are in when it appears you already have 3 debt consolidation loans at fairly high apr's?  That certainly isn't the solution in my opinion.  Best of luck i truly wish you as your life isnt going to get any cheaper with a new baby being born.  Suggest picking up another job is my only suggestion and trying to play some serious catch-up...

[pizza1]

mmmm, well being honest here, your situation is kinda bad.

You technically can file a BK13 now if you wanted. You only need to be 4 years from your previous BK7 file date. Thats one option.

Another option is sell the truck and motorcycle, and get a used reliable car for a few years, and pay for it with cash.
Pick up a second job if able, doing anything, to help bring in more money. You could sell the home (its a buyers market right now), and rent for awhile and downsize. Any extra money post mortgage pay off go to your debts.

Your scores are low due to the following reasons:
1. BK on record
2. Negatives POST BK on record (double whammy here)
3. Near max on everything...CC's, and loans

There's no way you'll get a loan in your current situation by yourself. What does your wife's scores look like and credit reports?

I would visit with a BK attorney and your only option is a 13 at this point. You would have to wait another 3 more years to be able to file a 7 again.

Filing  another BK,  just note that you will have 2 BK's on your credit report....One closed (your 7), and one open (13). Your BK 13 won't "DC" until you make your final payment. By then, your BK7 would have fallen off, only showing the 13 then.

Actually,  filing for a 13 would force you into debt management, which is what you need desperately. Already back in major debt only 5 yrs post BK7 isn't good.

When you are in a 13 payback plan, you have to get approval from your trustee for everything, so adding new debt will be very hard to do.