No. of Recommendations: 12
Well, you've pretty much come to the conclusion that BK isn't really an option, so you need to focus on repayment. In order to do that, you have to figure out your income and your outgo, and see if you have enough income to meet the required outgo. And, you need to use the actual income your husband can count on NOW, not the income you HOPE he will have in a few months.

Do you know what your monthly expenses are? Have you examined them for what can be cut? What are your minimum payments for ALL of your debt? When you add the monthly expenses to the minimum debt payments, how does that compare to the monthly income that you currently get? (Note - the income should not be the income that you HOPE will occur in a few months, but what you can actually count on now.) If there is too much outgo, and not enough income, then you need to figure out what outgo you can cut.

As far as the employee stock purchase plan, while you are in debt, your husband should only be purchasing stock in an ESOP with the intention of selling it immediately to take advantage of the discount offered. If the ESOP does not have a discount, then he should not be participating until you are out of debt.

If you want to provide more details of debts, expenses and income, you can get lots of advice - much of which you will probably seem harsh and/or you will want to reject immediately. But in your situation, you probably need to take a harsh look at what you are spending vs. what your income is.

AJ
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