Should i file bankruptcy biz? Hear me out

Should i file bankruptcy biz? Hear me out.

>10k credit card debt, across 5 or 6 accounts, ranging 1.5k to 2.5k each.
>5k outstanding loan that is automatically taken out of my direct deposits.
>cant seem to get ahead on any one debt, basically living check to check
>make 40k ish a year, fiance makes about the same
>fiance has little credit card debt
>fiance owns home, in her name. Still paying on mortgage. We split utilities and mortgage.
>baby on the way, due end of august
>need to start saving disposable, expendable income, dont have any cause debt, despite the fact i make ok money.
>not really worried about ruining my credit, as we already have a home, and we both own our own vehicles.
Also
>have 40k link

So what do biz? Should i go ahead and say fuck it to this debt? Which will free up a ton of money for this major life change coming? Which i feel we are already decently prepared for considering we have a home and two vehicles and two ok jobs.

Plus i have that lotto ticket link stack.

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Yikes!

+1

>baby on the way when OP has no idea how to handle his finances
>house is in his wife’s name - cuck status confirmed

You should post this on Jow Forumspersonalfinance

The ledditors are less inclined to troll.
Its as if they like the challenge.

No, you most definitely should not file for bankruptcy.

What you should do is legit chop those credit cards up, and see if you partner can help you pay down what you owe.

You're having a kid tougher, you're now in this together.

Do NOT file. Bankruptcy, legit.

You sound like a credit addict. You should start listening to dave ramsey because you have no control over how you spend money.

Are you me?

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take 15k equity out of the house or consolidate all existing debt into one loan at a lower rate. you would have link you dumbfuck

One of you should keep good credit, although that likely doesn't matter much since unless you're savvy/intelligent (you're not) many of the opportunities having good credit opens can become pitfalls.

My opinion is that you, a man whom society expects to provide for yourself, should keep good credit in case SHTF in a familial sense.

So, have her sell you the house. Then have her take out lots of unsecured loans/credit cards. At least enough to cover your debts (pay the credit cards off immediately, maybe allow the 5k loan to keep auto deducting depending on % rate), but as much as possible unironically won't hurt. Don't go over 5-10k with a single lender.

Don't have her declare bankruptcy, just don't pay it. It's that easy. Ignore the phone calls, letters, etc etc. If you end up with money to spare, settle the debts for 15-20% owed. If not, you're probably divorced anyway. 7 or so yrs from date of collections entry it will fall off her credit

Before you do this, have anything that may be influenced by a credit check with her and/or both of you done. life/auto insurance comes to mind.

try to cut your expenses and reduce your lifestyle as much as possible
then try to pay off as much of ALL the debt as you possibly can before the baby is born, you want stability
and you can try to HOLD the link until it hits like $1, but try to hold it for now