After a long spell in which one or both spouses were unemployed, a couple with three kids finds themselves $50,000 in debt. Now, with wife and husband back at work, they're aiming to get all their financial pins in a row and bowl a strike. DailyFinance's Laura Rowley offers a strategy for success.

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Sky Fairlane

Regarding unemployment and debt:

If you’re unemployed or under employed, chances are you are not going to be able to pay your way. People are

getting arrested for their unpaid debts in six states. And collection agencies are behind it. A petition has been

started on to prevent the return of debtor’s prison in the USA. Once enough signatures are obtained,

it will go to the US Congress and President Obama.

To sign the petition go to

February 13 2012 at 2:11 PM Report abuse rate up rate down Reply

Maybe everyone should claim bankruptcy as that is where the government would like all of us. This way they can control eveything we do. If you put yourself in that position you need to find a way out and take responsiblilty for your actions. Downsize until you can afford those luxuries once again. Filing bankrutcy puts more burden on those who pay there bills. BE RESPONSIBLE AND OWN UP TO YOUR MISTAKES. There are ways out without b]putting that burden to those of us who are responsible. But it seems bankrutcy is just like going to the store these days. It has become a natural thing.TO MANY STIMULUS FOR IRRESPONSIBLE BEHAVIOR. BUSINESSES ALSO. LET THEM FAIL OR TAKE NEW OWNERSHIP LIKE IT USED TO BE. How can you learn if you don't fail at times???

September 26 2011 at 3:00 PM Report abuse rate up rate down Reply

And this story gave what solutions?? Give your finances to an outside source? Do your think spending more money on a "solution", is going to help? You need to make a budget,and stick to it! If you ran up credit, as this family obviously did, then you are behind the eight ball ! It will take years to pay it off, and the "juice" that the banks legally charge,will keep you tethered to payments, for quite awhile! You may get them to cancel the credit card, and put you on a payment plan,but it still will take a lot of that budget, to pay it off!! Better to claim bankruptcy,and start over again. After all, that's how the biggest corporations "change the game!" Whats good for corporations, is good for the American family, it appears,at least, that's what our Supreme Court says!!

September 26 2011 at 11:27 AM Report abuse rate up rate down Reply

Her employer moves 1,000 jobs to Mexico......doggone it....don't you think Mexicans should be able to vie for those jobs when they arrive. I am assuming the loyal employer is relocating all those folks that originally occupied those job to Mexico....isn't that how it works ??

September 24 2011 at 4:18 PM Report abuse rate up rate down Reply
1 reply to BIG KELL's comment

well no thats not how it works so i can only assume you are being sarcastic.

September 26 2011 at 12:40 PM Report abuse rate up rate down Reply

Keep your cash, keep your retirement accounts, and settle with card companies or just stop paying and file Chapter 13 if necessary. Credit scores will mean nothing in a few years, as a majority of the population will have been victimized by Experien, Trans Union, and equifax in their monopoly of distorting financial history to make it appear most convenient for banks and financial companies to raise rates.

September 24 2011 at 1:52 PM Report abuse rate up rate down Reply
Wm Good

A few things wrong here. First, those so called credit consultants don't care. They don't have any magical solutions and can't take any action with your creditors that you can't do yourself. They charge you for their services and to them you're just another of the many accounts they handle. Second, the hypothetical familty described seems to me to be a made-up one. Construction is flat right now and sparatic at best. This means this family making six figures should have had substantial savings for a rainy day and seems to be living way beyond what is necessary for their survival. This recession is not going to end soon. They will likely get back into the same situation again. Which brings us to the third, and most important. Credit cards are not, repeat NOT, to be used unless you can pay them off at the end of the month and habve the discipline to do so. Otherwise they're a death trap and in my opinion credit card companies are little more than legal loan sharks. Once you get into the trap it will take forever to get out. Remember McDonalds went to accepting credit cards recently because credit card users on an average will spent 47% more than when they use cash. They are convenient but they will bite you. Make a budget using only the cash you have on hand to make it through the month and save, save, save.

September 24 2011 at 2:05 AM Report abuse +3 rate up rate down Reply