Debt problem what should I do to avoid bankruptcy?

[smithbasia34]

I have been marries for over 30 years my wife work full time and we have 3 kids, we have some financial debt that we can't payoff because we don't have money what should we do? we have about

$49,000 in Unsecured Credit Card debt
$114,000 Mortgage with Interest rates of 5.6% I don't want to refinance
$24,000 in Home Equity loan
$7,500 In Auto loans
$5,004 in Private loans- from Bank of American that I still pay and can't pay because I don't earn so much money! as I say we just don't have any money left over to pay above the minimums and some months the minimums are a struggle. I am even thing about bankruptcy but not qualify for Chapter 7 could do a 13 but would save maybe $350 a month from what we are already sending to creditor every month! and I don't want to destroy my credit report!

Can anybody give any advise as should I do to save my home, and car and not file for bankruptcy?

[admin]

This is huge problem as I have not even count the total debt you have but close to $200,000 or even more I know that sound stupid but why you have not settle your debt, you have credit card debt ( revolving account) you can settle those debt it $49,000 dollars you can settle those debt and pay only 40% of what you own.. sound good ? Auto loans and private loans also can be settle , some settlement company settle auto loans( there is not much company that do that) but private loans( if this is revolving account) settlement company will settle.. all revolving account can go into settlement process!

What you can't settle is your home mortgage you have take home mortgage for 30 years right? ask bank if you can pay them in 40 years(* refinancing option) check out current interest rates and of course improve your Fico score before you take any refinancing loan!