Reply to Please HELP-Unemployed Spouse, is Bankr. the only option?

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[quote=Anonymous]Hello,

I've read a few of the threads on here and everyone seems really supportive so I'm hoping that you kind strangers will give me some advice. My partner was laid off late spring of last year, just as I was delivering our baby (literally, I found out in the hospital).  He had been in the position for 8 years, with the company 10.  Well, now that the savings is drying up and I am in a total panic.  I am back at work but since I was forced to take some unpaid leave while pregnant, we are really in a mess. It just seemed like the perfect storm of problems. I get no sleep as I'm either up at night nursing my baby or stressing about our money situation, literally!.  We have a lot of debt that we were slowly taking care of. I'm hoping to get some practical advice on how to proceed. I've always paid all of my bills on time and pay more than the minimum on cc bills so the fact that I can't do that now is freaking me out. I know my credit, that I worked so hard for, is shot.

For bills we have:
Mortgage
2 cars/insurance
cable/phone
cc debt
student loans
gas/water/pepco
1 private loan

After reading this board I've negotiated a lower cell phone rate, frozen our student loan payments, and we are serioulsy discussing selling a car. Oh, I'm negotiating an early termination with cable as well.  The biggest issue now is the cc debt.  It is all mine and there is literally not enough money to pay all of that (about 500/month) and pay both car loans etc.  So, what do I do? I've been able to juggle everything till now but no longer can.  Yes, before you say it, I know it is terrible that I have so much cc debt, which is why I was working so hard to get rid of it and I feel terrible for it.  I didn't cancel the cards because I always paid more than the minimum and some months I've had to charge groceries etc.  But now that I see that I can't pay everything, I'm not sure what to do. The thought of missing a payment is making me sick but if it comes between paying a cc bill and feeding my kids...

Any other suggestions? Lastly, yes, I'm seriously wondering if bankruptcy would help in that it would free up the cash that I currently pay on cc for us to live. I have no idea.  Add to that, two toddlers and an infant that must be fed and taken care of....ahhhh, this is why I'm going crazy! I NEVER thought we would be in this position.  We are both professionals and have worked hard to make a good name in our respective fields. I guess the other issue of supporting a spouse through something like this, while also trying not to freak out, is a question for the couples board? He has literally sent out hundres and hundreds of resumes and at this point, even places like Target aren't calling him. I know he feels terrible, as do I, this just sucks.  Anyone been through this and made it out on the other side, sane?
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