Here in a deep hole(Loosing Hope) ((((((UPDATE))))))

[Remember0]

Not sure if it's already been mentioned, but you said some of those CC's were at 25%?!

THe FIRST thing I'd do is call the lender and explain hey can you reduce APR? 25% is outrageous. If they say no, then I'd call back the next day and explain the change in income and say it's hard to make it unless you can work out some payment plan. The bank may close the card, but I'd be SHOCKED if they didn't set you guys up with some no or low interest payment plan. With ~30k in debt, 25% costs you $625 a month in interest. If we could get that interest down (even if they closed the cards), I think you'll be in much better shape.

Someone I'm sure will chime in if I'm wrong here...

[Airforcekid]

Can you find a cheaper internet plan $15-$20 and use VOIP for phone usually no cost and with google voice you can keep your number plus online tv etc is free.

[john398]

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@BearsAndTurtlesRtheBest wrote:

Let me tell you this I have to go to work and I will have time there to post everysingle card with its baalnce and hopefully APR

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Hope everything is ok....do not lose hope

[Gunnar419]

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@spritezero1017 wrote:

I'm really new around here and generally only post when I have some small questions or celebrations of my own so you may think I have little room to opine here but I'm just gonna throw this out there because I hear some wanting to say it but won't. I have a good intuition and a pretty strong radar for *****. This thread smells far and wide like utter *******. The previous thread's themes leading to this one is a chain of events that is a bad fiction plot and the numbers being spoken of by the author are just not believable. So many people, so much debt, so little income, so high expenses, so much drama. So little bother by the author to give any full quality information about the situation from someone who claims to need help. It's not ok to say "we have $1500" in misc expenses," when people are trying to help you. What are those expenses? 

And no, I don't think it's wise to "take it easy" on the claims here bc debt struggles are so hard and sad and awful. There are lots of people reading here and trusting in the words, experience and advice of those that came before them and there is a responsibility to call out things that seem and sound way off. This is way, way off. A lot of it. 

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Bears (the OP) is a known and trusted member of this forum. While there are certainly things unclear about this situation, I don't think Bears would BS us.

I'm wondering if part of the confusion doesn't simply come from a misunderstanding. Specifically this:

Somebody asked: 1) Can you supply the month gross income for all parties in the household that can contribute to debt reduction?

Bears answered:  $2,000

Both the Q and the A seem ambiguous. Is it the gross income OF all the parties in the household, or is it just the portion of the gross income that they can contribute to debt reduction? Not clear to me. But I've never seen any reason to think Bears was anything less than honest.

[mrvoicelc]

Spritezero may be on to something...bears went to work four days ago and was going to post...the post has yet to appear...it is difficult if nary impossible to create a solid plan of escape from all of the debt without knowing all that comprises the household...

[texamel]

I think you should go chapter 7.  First its not that bad, believe me, I did it.  Also, once the discharge occurs, you would be surprised how many creditcard companies will be begging you to take their cards.  It was wild.  Think of all those companies who go bankrupt.  They now use it as a business stratgegy.  Your family has probably paid off the principle more than once with all the interest.  Once your family does it, a heavy weight will get off your shoulders and you will wonder why you didn't do it sooner.  Crap happens in life.  There are not a lot of protections for the normal consumer out there against all these big companies but this is one of them.  Besides, the creditcard companies just write the debt off and move on.  . 

[09Lexie]

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@texamel wrote:

I think you should go chapter 7.  First its not that bad, believe me, I did it.  Also, once the discharge occurs, you would be surprised how many creditcard companies will be begging you to take their cards.  It was wild.  Think of all those companies who go bankrupt.  They now use it as a business stratgegy.  Your family has probably paid off the principle more than once with all the interest.  Once your family does it, a heavy weight will get off your shoulders and you will wonder why you didn't do it sooner.  Crap happens in life.  There are not a lot of protections for the normal consumer out there against all these big companies but this is one of them.  Besides, the creditcard companies just write the debt off and move on.  . 

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The bulk of the debt are OPs parents.  OP is barely out of high school and as Gunnar stated is a well established member.  The combination of his age and the debt being his parents may make the responses slow to the board. 

[RushXTC]

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@BearsAndTurtlesRtheBest wrote:

From the new accts onlt 2 have a balance BofA AMEX $1090 0% APR for 12 months, and Hyatt $1,200 15.99 APR

@Pupeitmeister Yes Its $30,000 in CC debt paying @ 24.99 in APR. We arent working all our hours so basically all our checks are going to mininum payments since with do also have 2 auto loans and a mortgage.

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Are all the accounts under a single name? If not, How would BK work....?

I think $30,000 in CC debt is the least of your worries.

I have $30,000 in CC debt, $19,600 left on my car loan, I pay $300 monthly on car insurance and there's another $15,000 in personal loans.

I had my OT cut out long ago... I only work my 40 hours weekly, That's it. Trust me, It's probably much harder for me than you guys, LOL.... Especially because I make close to minimum. Please, Try not to go BK!!! Credit is everything! Especially if you run into a situation where you need money AFTER the BK, Can't come up with it, How would you go about that? =/

I mean, I have nothing against people who go bankrupt, But do everything you can to avoid that route!

[Revelate]

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@mrvoicelc wrote:

Spritezero may be on to something...bears went to work four days ago and was going to post...the post has yet to appear...it is difficult if nary impossible to create a solid plan of escape from all of the debt without knowing all that comprises the household...

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Because none of us have anything better to do than post on this forum? 

There's a billion reasons why he might not have posted, and cancelling their Internet service as was intimated was in their new financial plan is certainly one of them.

[09Lexie]

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@RushXTC wrote:

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@BearsAndTurtlesRtheBest wrote:

From the new accts onlt 2 have a balance BofA AMEX $1090 0% APR for 12 months, and Hyatt $1,200 15.99 APR

@Pupeitmeister Yes Its $30,000 in CC debt paying @ 24.99 in APR. We arent working all our hours so basically all our checks are going to mininum payments since with do also have 2 auto loans and a mortgage.

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Are all the accounts under a single name? If not, How would BK work....?

I think $30,000 in CC debt is the least of your worries.

I have $30,000 in CC debt, $19,600 left on my car loan, I pay $300 monthly on car insurance and there's another $15,000 in personal loans.

I had my OT cut out long ago... I only work my 40 hours weekly, That's it. Trust me, It's probably much harder for me than you guys, LOL.... Especially because I make close to minimum. Please, Try not to go BK!!! Credit is everything! Especially if you run into a situation where you need money AFTER the BK, Can't come up with it, How would you go about that? =/

I mean, I have nothing against people who go bankrupt, But do everything you can to avoid that route!

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No, the debt is mostly the parents.  Here's the breakdown:

@Anonymous wrote:

DM owes $13,102 in CCs

DD owes $14,821 in CCs

DS owes $2,550 in CCs

Auto loans and mortagage are under bothg my parents name