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Please help with credit problems!


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Posted by ELR (152.163.189.170) on January 23, 2003 at 23:27:35:

If anyone can help we would greatly appreciate the advice. My wife and I don't know which direction to go. This is a quick overview of our status. My wife is has a good job making 30,000 a year and I lost my job 7 month ago. When I lost my job myself and a friend started a construction company. He left to go work with someone else becuase the money was not coming in like we had thought. Now I have the debt from the company ($3,500) my wife's school loan ($15,000) our house ($72,000) two vehicles ($46,000) second mortgage ($9,500) and medical bills. We are also behind and both cars for two months ($1,800). I have just started a new job but I am making $12,000 a year less. We have no equity in the house or cars. What can we do? We live in Indiana. This has all snowballed so quick we don"t know what to do. We are expecting are second child in three months and were looking to find a new home to have a little more room. Know we have know idea when we could buy a house or vehicles if our bank decides to repo the cars. All I can say is what should we do?


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