I have $70K in credit card debt on two cards and I lost my job a month ago. Before I got laid off my household income was over $175k a year. We used to have $60K in the bank (after the recent market crash it is valued at $30K). My wife makes $50K a year but our mortgage with taxes and insurance is $5K a month and we have $1000 a month in medical expenses, $365 car payment as well as normal living expenses. I am not late on any payments yet but will be very soon. BTW all debt is in my name not my wifes.
I have thought of CCCS, debt renogtiating with a payment plan, and trying to contact the credit card companies myself. I would like to shut the accounts down and have the cc companies stop charging me interest so I can pay it off. I think I can handle $1000 a month and would be paid off in 70 months. My wife and I both have credit scores over 760. What is the best way to do this? Should I try to negotiate myself? My bro-in-law is an attorney but I am really embarrased to ask for his help. Is there another way I can do this? Are there any credit couseling companies that are honest and will work for me?