hello I lost about half my workmen comp and wont be able to pay my debts I have been living pay check to pay check ,I have been told to stop paying my charge cards but continue to my my house payment which my wife and I have a 345,00 fail business loan and a 45,000 home equity
loan ,we paid 259,000 11 years ago but because of housing market it probably worth 150-200,000 now ,our cabin up north which my wife inherited in 2007 has a 130,000 home equity loan on it . we owe about 50,000 in credit cards ,our plan is to live in the up north property because were both retired ,i worked at GM for 42 yrs and retired on disability
so I get my GM pension
of 1400 a mth and total socerity of 2200 a month and now 516 a week for workmen comp down from 739 a week and I understand it going down next birthday too ,I was 65 on my last birthday in April my wife is 59 ,i have about 100,00 in my 401 .
My question is what should I really stop paying and should I stop using my charge cards friends have said they bought things on their before going bankrupt and my question is what do you think ill end up with house wise could they take both ?