Let me begin by saying I have excelent credit now. Alot of it.. and over the past 20 years I have never missed a beat or payment. Our household income is roughly 150k per year.
I just heard rumors that the comp my wife and I work for may go out of business. If this happens we will loose approx 60k of income. When and/or IF this happens I will not be able to pay all of my debts.
I have no REAL assets as I owe on everything.
No savings to speak of other then a 401k which I have two loans on already.
House is financed at 90% at approx $270k
New car 30k
Revolving and Credit card debt at 90k
No other real assets.... another older car, household items, etc...
What are my options. I am really starting to get worried about the future.
How long would it take before everyone comes after me for not being able to pay all my revolving accounts.
Help....

