Should we File? Take a look...

[inozip]

Credit Card Debt $50K- we can only make min payments of $1150/month

Two Car Notes: $280 and $700 .. upside down in both cars.

Own rental property: Vacant - Payment $975/month - *hopefully will rent but may have to reduce rent to $800 /month - Equity is at least $50K but this is a trailer and we have tried to sell it but banks won't loan money on it because it does not have a HUD certificate on it! We are stuck with it!

We are currently living in a rental home that we do not own in South Florida.
Rent $1000 a month, lease ends Dec 1st.

I am working a one year contract with a $19K bonus coming in 4 months.
Thats the good news.

Bad news: Hubby has not been able to find a good job in new place. We are
working on one income *mine $3500 a month plus his part time job of $1500
month.

All we do is fight about money, his not having a good job *he is working part time but commission only, and his expenses take up most of his income.

Debt load is $95K for cars and CC...

We can hang in there paying min payments, with hubby trying to find better job... but with trailer now vacant and pressure of making that $975 a month
payment in addition to our rent of $1000 a month, I'm drowing here.!!

[Chrisi18]

Is there a reason why you guys can't live in your rental property since it's vacant anyways?

[inozip]

We have lived there twice. Each time, the reason we moved was because there is no work for us in that area of Florida. (unless we want to work for
min wage). We moved the last time so I could work for more pay and for the bonus money... Trust me, I have thought about moving back *again, but
literally, there is no job for me there now.

[HHM]

Yes, I think you are BK candidates. The credit card payments are eating too much of your cash flow that you need for other things. The trailor is a non-issue, if you can't rent it, can't live in it, and can't sell it, it is worthless to you. Let the BK trustee deal with it.