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No. of Recommendations: 6
A little late to this thread, but here's what I see about the situation:

I want to thank you all for your wisdom. We had a heart to heart last night. More tears...
Says he is willing to hand over his whole paycheck if that will help. So at least he can see on paper where the money is going or needs to go.

Try it for 3 months. You have already established that you knew how to keep the finances in check before you got married and had kids. Set up an agreement with him that he turns over everything to you: paycheck, any bonuses, etc. for 3 months. Give him a set amount of money per week for his expenses and lock up his credit cards.

Now, take your new purple tracking notebook and get to work. At the end of the 3 months, sit down with him and review everything. It will give you two things:

1) a chance to make a dent in the debt; and

2) a paper trail to show him how you are doing financially.

Then, talk about extending the project if it's working and you're seeing real change. If you aren't it's time to talk to a credit professional about your situation, which may for may not end up with BK.

Good luck!

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