Quote:
Originally Posted by Janabis
You need to liquidate this asap and put every penny towards the credit card. Then get two jobs until your family is paid back. You can probably be debt free in 3-5 years.
This is the last thing to do.
Absolutely do not liquidate real assets to pay off credit cards. Only if you are directed to do this by a bankruptcy court should you do this.
There is approximately zero chance you can pay of $70k in debt in 3-5 years unless you have ~$30k or more in annual free cash flow. I'm talking about paying $2500-3000 per month on the debit principal, above and beyond the interest payment.