I feel like I am at a complete loss here, My DH is about to lose his 2nd income, and its the only thing keeping our family together financially. We have come to the co nclusion that these are the only 2 options we have. In consumer debt (I think that's what it would be called, credit cards like Lowe's, home depot, chase) we owe $9,510. We still owe $4,500 on our Tahoe and we cant get rid of it because we use it to haul water. I have figured out that each month we pay $448 a month in minimum payments. Our house payment is $659 a month until January, and when January comes around it goes up to around $690. Our take home pay is somewhere around $1950 a month. So with just the Tahoe payment, the mortgage and the credit card minimums we are paying out $1,356 leaving us with less than $600 a month for food, animal food and utilities.
Anyone have any words of wisdom for me? Any recommendations of the debt consolidation companies because I know some of them are scams and I don't want to waste my time with them. Do you think its even possible for us to get a 2nd mortgage on our home?
Anything will help, even bad comments are welcome, I just need some perspective here from someone else. DH and I disagree on debt and credit cards so its very hard for us to have a calm talk about it. 2 years ago his mom gave us almost $16,000 to pay off all our debt, and we did, and look where we ended up again I think because we got out of this mess so easily last time he has not truly felt the consequences of his actions. Yes some of this debt is mine. A good portion of it has funded both his and my own business adventures (not a good thing because he MADE the money from his and just kept it instead of paying off the card he put it on, my business is not making money yet, I have put close to $500 into a business with my brother and so far we have only made $57 dollars back). DH thinks that debt is a good thing, I think its the worst thing in the world. I am fine with my house being not paid off, and we NEEDED to buy the Tahoe to get water but I am not OK with having almost $10,000 in credit card debt. OK enough ranting, help PLEASE!!!!