Okay let me start off with that I am single 40 year old who works 2 jobs and is struggling. I had to pay for my own college so between student loans and credit cards I survived. The student loans are paid off but the credit cards never left and kept getting bigger.
So here I am…I make just over $80k at one job and over $3,100 at the other job. I have $60k in credit cards, $27k in personal loans, $31k car loan and $178k mortgage. My monthly output just for these things are $4,530 which brings my debt to income to over 65%. I’ve tried to do a home equity loan to pay off the credit cards but I only have $70k of equity in my house and it brings my DTI to 45% which is 2% over the maximum of 43%.
I’m drowning and don’t know what to do at this point. Does anybody have any insight or suggestions or anything? I was in tears last night and can’t eat (which has saved some money).