What is the best way to analyze whether I should try to end my debt struggle through debt consolidation, or bankruptcy, or keep going?
I have a huge, embarrassing, amount of debt: $76,000 credit debt (97% of credit limit), plus $16,000 student debt with current minimum payments of $1,800 per month. My credit APR rates vary from 10% to more than 20% with small bits at even higher APR. I can't involve my spouse, so can't do a home equity loan, which would be my best bet. I still have a good FICO Score 735-740. (My Roth IRA has $22,000, my 401(k) has $30,000 and our joint savings are $30,000). My age is 48. At the start of the year, I made a (helpful) visual Excel sheet/graph to help track progress (right now my minimum payments of $1,800 bring the total balance down about $800-$1,000 per month, and I struggle to make that minimum). I do see that I could get through this if I can keep up and even increase payments in future, and later do a balance transfer to 0%. So I am inclined to forge ahead, but the "mountain" is very large, and I am self-employed so I don't qualify for loans, due to variable income and my debt/income ratio.
Option 1: Forge ahead with discipline, consider getting an extra job or income.
Option 2: Consolidate my debt, but ruin my credit score.
Option 3: Declare bankruptcy (but how does that affect my retirement accounts and domestic partner (not spouse), and home mortgage?).
How can I calculate how long this will take me at my current rate? If I was able to find a job paying say $70,000, could I self-qualify for a loan with W-2 income?