Huge problem- loosing house-student credit lined maxed-Need more credit to get job as contractor.. HELP?

Here is my situation, I recently bought a house in my city (September 2008). I also havea 7,000 student credit line dept (my parents said they will be paying it off for my shortly as a helping hand) and 2,500 credit card dept (maxed) 500$ cellphone bill. I was layed my job 3-4 months ago. and have no been able to make morgage payements. collectors started calling, ect but was not able to do anything. i received a paper via mail from the couts saying something about i owe the CIBC (my bank) 108k. i think they are suing me? does that make sense? for not paying my morgage? What happens now? do they reposes my house? Ok to continue on, after searching for a job with no avail (huge unnemployement rate in my city) i decided to leave. Im a 5th year plumber, so i did make good money when was working, but was layed off beause the industry was dead. So in light of all that i decided to move (loosing house(i think) stress with money and not having it) i sold my things and moved. out west were theyre is work. now ive found an independant contracting job, but im broke. (flew down here with 200 dollars in my pocket. clothes and tools). I would need a truck, liabilty insurance, work comp, car insurance. a cell phone. The job pays VERY VERY well. and is reliable on hours, i will make a killing and able to re-establish myself financially in no time. But i have all this dept and no money. I'm young, 22 and i have been foolish wiht my money. Now im in a situation and i have no idea how to go about getting out. Im looking for detailed or any advice i cant get onwhat i should do. So there some type of loan i can get to merge my current dept. What do i do about the house, i have been in no contact wiht them at all, and dont know what the process is when you havent and cant pay. Like take the house?? which i dont live there anymore. what happens to the dept? the lawsuit (i think thats what it is) And how can i get some money to get this buisness going, (independent plumbin contractor). to get myself re-started again. I figuere start up cost will be atleast 15,000$ any help and advice would be helpfull. 16 minutes ago - 1 week left to answer. Additional Details Im being hired on at 50/hour, garantee 40 hours a week (most likly will be 60-70). And advancements within 3 months. His other plumber makes 80/hour

1 month ago - 2 answers