Married, 30yr old, We both work and just had a baby.

49000 in CC/Unsecured Debt
114000 Mortgage
19000 HELOC
7500 and 16500 Auto loans

We just dont have any money left over to pay above the minimums and some months the minimums are a struggle.

We checked on bankruptcy last week and do not qualify for Chapter 7 could do a 13 but would save maybe 200 a month from what we are already sending out and that just doesnt seem worth it to me to get the bankruptcy on the credit report.

Can anybody give any advise as to what I can look into doing as an option next? I have gotten the interest rates on my CC's at 10% or less and some are fixed at 4% till the balance is paid in full. I owe more on the higher priced vehicle than what it is worth so getting out of it would be difficult.

Sell one or both cars if possible and borrow the difference + enough to buy one or two 3000 or less cars. This reduses 24,000 to 5 or 6 + upside down amount, which should still be much less debt. Dad needs to get a second full time job.

You both need to sit down and write out a budget that pays only for necessities, no beer, ciggerettes, candy, meals out, movies, dingdongs etc. Only needs.

Sell everything but the baby.

Then, save up an emergency fund of 1000.
Next, list your debts from smallest to largest, while paying the minimums, put every extra penny towards the smallest debt and pay it off, then move to the next.
Once you have payed all the debt ( do not add any debt while doing this) save up enough money to fund your emergency fund to 3 to 6 month expenses.
Then you can think about college funds and investing at least 10% of your gross pay.

If you are not able to do this. Make a priority list like this:

Food
House
Gas
Utilities
7500 car payment.
Sell 16,500 car no matter what.
HELOC payment
Lowest CC balance
And so on.

Pay in this order as your money comes in. You have to get mad at debt and desire to get rid of it over anything else. Cut up your cards. Here is a healthy financial plan.

First, 10% of your income goes to funding an EF and longterm investing. FIRST.
Second, Only buy a home you can afford on a 15 year note and only 25% of your take home pay.
Third, make a budget that tells every penny you earn where to go.
Fourth, only buy cars, tv's, anything after you have payed for food, clothing, insurances(including life and health) and only with cash.

This is how you prosper. Good luck. Get the second job until you are debtfree.

The Credit Card debt is pretty huge - what steps have you taken to minimise credit card spend, and to pay off extra on your credit cards?

Also, the two car loans - what's your position in terms of selling your existing vehicles to have second hand ones?

the credit cards I have called on and gotten my interest rates reduced. We try not to use them but with the cost of everything goin up lately seems like by the time I pay all the monthly payments and other items, there is just no other thing to use to get food and gas and items that are needed. When ever we get extra cash I have tried to always send it to Credit Cards but just seems like I am getting no place. We checked on the Bankruptcy and apparently we make too much money to qualify for it.

We have met with a person from Prime America today, does anyone know anything about them?

Never heard of Prime America...have you done some research on the company or do you know anyone who has directly worked with them?

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New graduate with an emphasis in debt counseling.

Prime America does have a sub-prime market. They also promote insurance and consolidation products. The division of Prime America that sells Mutual Funds has a terrible reputation. Their product are sold by people poorly trained and tend to be less than mediocre investments that are high priced. Personally, I would suggest you to stay away.

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Personal Finance Advice

You have to stop using the cards. Stop paying on them if you can not pay your needs first. You have to change your mindset to one of survival and debt reduction. Your husband should be working two jobs. Eat beans and rice if you have too. It's going to take time and sacrifice, but it is doable. Strictly define what are wants and needs and cut all the wants. Last, do this yourself, do not use an consolidation company. Get serious.