Finance House

What is the name of your state? Illinois

In 2005, I bought a brand new truck on my own. In June 2007 my fiance's car broke down and I took out another car loan to buy a used car. We agreed to take the payments on both vehicles and split them equally. Well, we recently ended our 6 1/2 year relationship and I can not afford to make the payments on both vehicles (both vehicles together equal $940 a month in loan payments). I am upside down on both vehicles and it wouldn't make sense to trade them both in on another car. I've made the payments for January but I can't afford to make those payments anymore.

I have always made the payments on time ever since I bought both vehicles. I am trying to figure out if filing bankruptcy would be my best option. I am able to make the payments on the second vehicle I purchased but can no longer afford the truck. In all I am $31,000 in debt with both autos. Plus $4000 in student loans & about $2000 in credit card debt. I want to keep the second car and continue payments on it. I do not own a home or any property. So far this seems to be my only option. Any advice would be appreciated. Thanks