To make progress on the $40,000 debt, a minimum of $400 extra per month is needed, which would pay it off in two and a half years. Selling the current car and buying a cheaper one could reduce this payoff time to two years.
"So, those are the minimum dollars that have to be coming in. Really to make any progress on this. Bankruptcy is not going to really solve much. U might be able to do a consolidation maybe or debt thing, but again that doesn't take your major debts are the ones and that aren't going to be forgiven in any of these unless you get rid of your car or your family dies. So, and we don't want any of that to happen. Okay. I would do the car tradein thing that maybe brings us down to two years instead of two and a half. That helps."
