No. of Recommendations: 0
You said you weren't expecting advice to use the rest of your credit, but I'm going to do that, and actually advise you to find even more if you can - provided you can use it responsibly.

You could save a lot of money by consolidation. Now you probably can't move things onto your nice Lowe's card, but there are still opportunities. For instance you have $30K, the highest balance, on what is your highest rate card. That card is costing you $9,000 per year on interest alone. Meanwhile you have available: $5000 on Cap One #1 at 6%, $7000 on Advanta at 8%, $3000 on Cap One #2 at 9.5%, $2500 on Union Bank #2 at 17%, and $10,000 on Chase #3 at 19%. It is a sad thing when your 19% card is your low-interest opportunity, but there it is.

If you took that $30,000 and redistributed it to these lower interest cards, you could save $4000 per year in interest alone even without paying anything off. Some of those cards may still be on teaser rates but even if they go up - assuming they don't go up to 25% - you are still coming out significantly ahead.

If you took that $4000 and put it toward paying off the balances, you'd save $1000 MORE the next year. Interest kills.

While I would not advise carrying more TOTAL debt, it might be to your advantage to dig up some more credit if you can. Almost any credit you can find will be lower interest rate than what you have. New cards... home equity loan... borrow against the car? Anything is an improvement. The 29% BofA #1 is only the worst offender of the lot, Chase #1,2,4 aren't much better, and you have about $40,000 on those combined with $3000 that can't be moved off of your BofA #1 because there's nowhere to put it. If you could cut this $40,000 from 26% average to say 15% average, that would save you $4000 MORE per year in interest. So just moving balances around, you could potentially save $8000 per year. That's like a 10% raise - and it's completely tax free!

The key to making this work, though, is that you MUST get positive net income and you MUST NOT increase your total credit balances any more. That $8000 in interest savings could go a long way to helping the net income. But if you can't do that, the savings will evaporate, and you'll be worse than before.

The obvious thing for you to do, really, is for your wife to go to work. Since your daughter has some disability that isn't actually autism, depending on her age and condition, you might not require unusually expensive child care, or possibly any at all. Substitute teaching is an excellent idea. The hours are extremely flexible and while the work isn't pleasant (my mother did it for a while) it is money. It's also often a union job with excellent benefits that might reduce your medical expenses. If your family can spend less and earn more, you can get this debt down to a manageable level in just a couple of years, and your wife can go back to stay-at-home-mom, if she wants.
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