Need help with desision

[robdmngz]

What is the name of your state? IA

I am 36 yrs old and my wife is 45.
We have acombined income of 70 to 80k a year.
We have a morgade and an equity loan 105 k an 25k . Home value around 150 k. payments of $800 and $900.
we have misc expenses of $1,500 month Student loan, ins. day care utilitys exc..
50k in credit card debt all just about max. payments on time so far. $800. month min payments

I have a couple of questions. I realy want to keep my house. would it be a good idea to consolidate the two home loans before declaring bankruptcy?

Does any one have names of reputable debt counceling or consolitation?

I have 3 children at home and we love our house the thought of loosing it is terrible. At this time after I factor gas and groceries and other misc expenses we are about $700 to $800 over drawn each month. Ive used acces checks for the past year to keep current with expenses.

Any ideas would be helpfull

[kully]

I tried a debt counseling service. I went to Consumer Credit Couseling Service in Florida. Not sure if they are only in Florida or not. They were great! I highly recommend them. I also got information on several other debt counseling services. If you look at others, make sure that they don't expect any money up front. Consumer Credit Counseling Service is a non-profit organization and only wanted $20 for the counseling session. Other's wanted hundreds of dollars up front before they even started...beware of those.

I hope this helps

[bigun]

Iowa allows unlimited homestead exemption so you can keep the house.

[url]http://www.thebankruptcysite.com/bankruptcy-exemptions/iowa.php[/url]

With those sort of numbers and the size of your family, I'd think bk is a better option than CCCS. I'll bet you are woefully underestimating your expenses. Plus, the student loans will survive bk.
Most bk lawyers give a free initial consultation. Talk with a couple and get your options explained.
Fill out this expense calculator and see where you stand.

[url]http://www.ca-bankruptcy-attorneys.com/calculators/expense_calculator.html[/url]

Also, don't do any consolidating unless you can lower your payments. Plus, keep a close eye on closing costs. For sure, run the idea by your lawyer.