Giving back property but not working

[Tacoma-Man]

I bought an ATV and owe like $10,000 on it. Its worth maybe $5000 when running but i blew the motor and sent it off to get fixed but couldnt pay the repair bill so now i have no motor. I dont want this $10000 debt now, am i stuck with it, or ??

[lrprn]

Unless you file bankruptcy and surrender the ATV, you are responsible to pay back the $10,000. And you've given us no information about your financial situation, so it could be filing bankruptcy is the worst thing you could do.

Can you give us more information about why paying off this $10K is difficult for you? What state do you live in? How much income from all sources did you make in the last six months? Are you married? Do you have children? Do you own a home? Cars? Other secured assets?

[Tacoma-Man]

Well i guess i overspent with the credit cards, Work has taken a turn for the worst and fuel prices are killing me. ( I am a truck driver)

Debts:
Credit cards $75000 about $1300 mo
Mortgage $2000 mo
Semi-Truck payment $1000 mo
Semi-Truck insurance $600 mo
Pick up $300 mo (no equity)
Medical insurance $400
68 Camaro Worth maybe $18000 owe $12000 Payment $260 mo
Medical bills maybe $6000 about $200 mo
Utilities about $200 mo
Quads x2 total $14000 payments about $200 mo
Cable/Phone/Internet $120 mo
Cell Phones $150 mo
Oh ya, i havent added food, POV gas or taxes yet.

Now for the income, about a year and a half ago i started out on my own as a truck driver. Work was good. I was making about $3000 a week and fuel was only $3.50 a gallon. That lasted about 3 months. Fuel started going up like crazy, the housing market went to crap and the trucking industry went right with it.
Now i am averaging about $1500-$2500 a week, mostly about $2000. and i have to spend about $1000 a week in fuel.

That should give you some idea about what kind of trouble i am in. Just a case of me thinking that my work was going to stay busy and spending the money before i made it.

I forgot to add that in January my ARM adjusted up from $1600 to $2000, those mortgage companies know when to hit a guy dont they?

[Tacoma-Man]

The only thing we really have any equity in is the Camaro, and a 1986 Tioga Class C motorhome. Thats worth maybe $4000. Everything else we owe more than its worth.