Looking for Financial Advice/Help?

I was hoping that someone might be able to help me out. I am trying to figure out how to resolve $74,000.00 in debt. This exists due to the fact that my husband is a compulsive spender and has strong armed me into purchases that didn't need to be made. He works full time and has been working overtime from his job when it is available to try to make ends meet. I have run my own home-based daycare for two years now taking care of everyone else's chidlren but I currently only care for one child every other week. I have also been looking for something more stable. Any ideas/suggestions/help that you can lend would be sooo greatly appreciated!

Thanks sooo much for your time and assistance! You are all true angels!

P.S. We have completely stopped making ALL unnecessary purchases but we are at a point where affording food and gas are a joke!

I think all of us men are compulsive spenders! First off, he is doing the right thing by working harder to bring home more pay since it was his fault that you are in so much debt. If you do not have any children, try finding a job at a daycare place since you definitely have the knowledge for it. That will slowly take chunks out of the debt if you can live off of your husband's paychecks, and apply ALL of your paychecks to extra payments on each of the debt that has been accrued. If that is not possible, then the only other solution would be bankruptcy. NOT recommended since it scars your credit for so long, but if the light at the end of the tunnel has gone out, then that is what you will be left with at the end of the day. I hope this all helps, and if you need further advice, or have any more details of your situation to add, please email me.

from whom you borrow the money? if posible borrow from other that use lower interest rate.....
how much your income? does all that thing that is bought can be sold again?
if you can live again with your parents, you may consider sell your house for now, at least the interest rate is higher than the land value increase

One idea might be to borrow from your husbands 401k (if he has one). Some company 401ks allow the interest on the loan to be paid back to you, so it is basically an interest free loan. This is probably one of yout last resorts.

Another idea may be to liquidate as much of the "crap" you bought with that money in the first place and pay off your debts.

Finally, you might think about selling an extra car (if you have one) & possibly go without or buy another cheaper one.

Good Luck!