MasConcepts Incorporated

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July 2025 I got a 30k personal loan for an emergency fund. Life was getting scary with me being the only income for my family. My wife takes care of our home and 3 young children (2m,6f,8m).

I was making enough money to cover the bills with plenty left over to cover a new loan at 600/month and still save or have fun money. I’ve always been diligent paying back my debts and I’ve never had revolving credit on my credit cards, Ive always paid them off before the statement date. Credit score around 760-780 for the last 5 years.

August 2025 I got drunk and either got drugged or did drugs while I was trashed. I don’t do drugs recreationally because of my job so this was a surprise to me when I woke up in jail for some pretty extreme charges.

My wife bonded me out for 10K and the lawyer cost another $10k. It seemed impossible to find a job for about 3 months but I finally found a place that would hire me and pay me well. The problem is my paychecks are lumpy in the winter so we went thru the rest of the loan by May of this year.

I figured everything would be ok as long as I can get through my legal troubles so I got another personal loan for 63k. My plan was to hold onto that money for bills etc and save as much as possible during the summer while I’m making more money working 50-60 hours per week.

I was approved for the 63k loan and dumbly put everything in my brokerage account… I lost close to 50k thinking I could make enough money to clear my debts and have something left over for my family if things go bad for my legal situation.

Now I have 15k left in the bank for mortgage payments set aside in a separate account that is only for the mortgage payments each month so I don’t touch it.

I’m making about 5k per month until October then only 600 per week because I’ll be getting short term disability for 3-6 months due to shoulder surgery. My current debt payments are 1300/m for the 63k loan. 600/m for the 30k loan. 1000/m for mortgage.

I’m planning on paying off my credit cards and stopping using them except for car insurance and other necessary bills like utilities. Credit cards balance in total about 4k. So that should be easy to knock out.

Do you guys think am I thinking about this correctly?

After the credit cards are paid off should I save my leftover money or throw everything at my personal loans?

Should I be thinking about bankruptcy after my shoulder surgery?