@Anonymous wrote:
I dont know how i was so stupid but i was. I built my credit to be considered good and my husands execellent. We bought our first home this past year and in less then a year I put us in more than 50K in credit card debt. I don't even know how i did that so fast. We are a family of 5 and am the only one working. My husband hasn't worked in almost a year and he doesn't even seem to be caring much about getting a job, but anyways thats for a whole other forum. I just called capital one today to volunteer surrender my vehicle. I never had a repo on my credit before but now i will. Other than pay them off slowly which of course i have to do. What can i do to not get sued or lose my house or anything? any advice? Do i call each card up and say im gonna pay you just not now? I can't do a payment arrangement with each cause i'll end in no being able to catch up. I only bring home about $2800 net. mY mortgage alone is $1747 plus utilities. I have one other car payment $450 plus $170 insurance and of course life. SOmeone please help. Is this gonna force me to do bankruptcy and if so does that mean I will lose the house? thank you in advance
OP, I don't have the financial advice you asked for. Apologies for that. You have received a lot of sound personal finance info higher on this thread. I hope things work out for you.
You have been on my mind since I first read your post. You are not stupid. You are doing all you can for your family. A roof over your heads and food on the table is not frivilous. The mortgage is pricy on one income. I hope your husband finds suitable employment quickly. A second income would be invaluable.
As to the credit card debt it can happen when you are taking care of a family of five on a limited income considering the obligations. Please don't beat yourself up for that. You are a wife and a mom doing for her family. 50k is easy to do in a year when it is supplementing income for your household.
I hope you return to let us know how you are doing. I admire your efforts. Sometimes things go badly. We try our best to deal with a difficult situation.
I wish you well.
