<prompt> Human: Heres the back story:I worked at a company for 7 years as a Traveling InstallerTrainer making 79,000 a year non-salary no benefits. The pay is heavily based on the total number of systems installed by me and the offices I managed. More than half of our sales team left the company for another and I wasnt high enough in the company to keep a good paying job regular installers make about 25-30k a year. I left and found a job that pays 39,500 salary with benefits, no travel and a 20 minute commute. I have 2 years of college done Information Systems. Stay at home wife with a 1 month old and a 2 year old. I was making it work before, but now it doesnt look like Ill be able to stay above water. I know I put myself in this situation, but when I was earning double, it was no problem. Is bankruptcy the best option? Not sure what other information is important.Heres the info:Net Monthly Income - 2548.00Car Loan - 615Student Loans - 452Rent - 695Utilities - 116Cellphones - 142 still have most of the 2 year contract leftInternet - 30Car Insurance - 143Medical bills - 209Credit card monthly minimums - 809Groceries - 350Gas - 150Entertainment NetflixHulu - 16 EDITThanks to everyone for the information. It looks like getting my car situation fixed, work something out with our student loans, getting a second source of income, and checking out some sort of credit consolidation are the things that Ive gotta do. Ill keep checking this in case there are other pieces of advice. Thanks again!  <response>: Others have given you good suggestions on selling the car and getting a reliable used one. There are many out there. Youll also save on insurance this way. By the way, is that your only car, or does your wife have one thats paid for?Why is gas so high each month with a 20 minute commute? How much additional driving are you doing?Even with these, theres still the issue that youre spending a lot more than you make. Bankruptcy is definitely not the best option at this point. Youll lose the car, so selling it is no worse, even though youll still owe some of the money. The student loans wont go away, period. All it might hit is the medical and CCs. Next, _talk to your creditors_. Tell them whats going on in your life and see if they can do anything to help you. Maybe the credit card company will lower the minimum andor the interest rate, especially given your history of paying on time. Similarly, see what whoever you owe medical money and student loans to can do to help. Youre paying 1470month in non-car loans -- more than 50 of your take home. The good news is, if you do manage to reduce those monthly payments by a good amount, youll get much closer to a manageable budget.BUT you do need to cut elsewhere. Your non-loan non-car-related needs are 58 of your monthly income. I dont know where you live, but given your proximity to work, I wont suggest moving to save on rent. But 116 for utilities seems quite a bit: whats going on here? Can you reduce or eliminate the data plan on your cell phones? Whats the contract termination fee? It might be better to do that and go with a no-frills pre-paid phone.Lastly, and people hate hearing this, you might want to look into finding a second source of income for your family. If it has to be you, maybe you can add one day of work either at your company or otherwise, the extra few hundred dollars you bring in will make a big difference especially with the needed cuts above. If thats too exhausting for you, would it be feasible for you to watch the kids while your wife works provided you can get the schedules to match, or for someone else in the family any nearby? to help you two out with the kids and have her work at least part-time during the week? 