I don't want to file bankrupcy, help?

Do you have a job?

Yes, I am currently employed - been there for 10 years. That has not changed, it is his drastic cut in income that has caused us the problems.

Tell us more about your debt. Mortgage, home equity, credit card, signature loans, student loans - give us some more details and we can help you.

1st Mortgage was modified current payment is 652.39/mo Principal is 98,000
HELOC with PNC is 34,000. PNC would not renew loan because of lower income level. It has now been charged off.
Truck loan 329.38/mo has 10 payments left.
Boat loan 186.15 - I don't even know when it will be paid off.
Credit card debt totals about 50,000. (most of this has been incurred paying expenses when the recession first hit)

My income is only around $19,000/yr. We take draws from my husbands company as needed and when available. Some months are OK - but most are way under water!

1st Mortgage was modified current payment is 652.39/mo Principal is 98,000
HELOC with PNC is 34,000. PNC would not renew loan because of lower income level. It has now been charged off.
Truck loan 329.38/mo has 10 payments left.
Boat loan 186.15 - I don't even know when it will be paid off.
Credit card debt totals about 50,000. (most of this has been incurred paying expenses when the recession first hit)

Your salary is 19k a year and you've been working 10 years? My mom was making in the 40-50s as a staff assistant before she graduated with her bachelor's from online classes. It seems to me like you're being severely underpaid, unless the job is part time. If it's part time consider getting another job. As for your husband, have him look into supervisory jobs at lowes or home depot - his experience in construction will get him right in and that'll give you great benefits and, if he gets a supervisory job, probably 40-50k a year at least. I hate to sit here and give you life advise tips but based on the salary you provided and the fact that your husband's current work as a contractor is sporadic, you have little to no options. 19k annually with 50k in CC debt, 650 /mo mortgage, paying 320 dollars a month for a truck, almost 200 for a boat, I mean there's just no answer here for you unless you A) declare bankruptcy or B) your husband gets a stable job and brings in some more money. Home depot or lowes would love to have a guy with his experience in construction and as I said, the salaries for managers or supervisors are not bad at all and you get great benefits. He can do his contracting work along with that. I'm sorry if this isn't the answer you're looking for but if BK isn't an option for you, the only option is increasing your income. You will NEVER pay off that debt on your salary. It is just absolutely impossible.

Why cant you file bankrtupcy??

I just don't want to file bankruptcy.............. I am ashamed that we are at this point in our lives.

That's ridiculous. You're at or near the poverty level. File bankruptcy. It's nothing to be ashamed of.

Oh my gosh yes, nothing to be ashamed of. I am in a field of work where I see tons of bankruptcy notices everyday. This just describes the way the economy is today. In fact, a few of my friends are in a bankruptcy plan and I don't think any less of them because of it. Hope everything turns out OK for you.

Either you file bankruptcy or you drastically increase your family income.

You might feel ashamed but think about it....none of us asked for the economy to tank. Sure you might feel ashamed at filing....but you will feel and overwhelming sense of relief when it is all said and done. It gives you a fresh start.