Going back to work after a baby b/c of debt... help?

Question

My husband and I are in a lot of debt and are considering bankrutpcy. I really want to stay at home w/ my son if possible. Is it worth quitting my job, filing bankruptcy and possibly being stuck on foodstamps just to stay home w/ my son? If I work it's to pay debt and daycare.. totalling 1600 a month!! I just don't know what to do...

Answer 1

My boyfriend and I cannot afford to not have the 2nd income, so the obvious choice is to work. I would love the opportunity to stay home with my new baby, but it's not an option. Would you rather have everyone else support you? It offends me that you can work, but you're considering the option of getting government assistance---not because you need it, not because you can't work, but because you don't want to work. I think the answer is pretty obvious.

Answer 2

It takes years to get a bankrupty off your credit. It would make buying anything on credit (car, house) that much harder. Staying at home is great, but there's no way I'd purposefully file bankrupty if there was anything I could do to prevent it. Cut up the cards, don't open any more accounts or charge anything else, and get that debt paid off.

Answer 3

Why not work on opposite shifts - save yourself the daycare expense -and- keeping your child with mom or dad all of the time?

Answer 4

If we were in that situation I'd go back to work. Do you really want bankruptcy on your record? I'd go to work, pay off the debt, and then think about being a SAHM.

I understand you wanting to stay at home, I love being able to do it. But you also have to do what's going to best for your family in the long run.