My 34F wife spent $12,000 in one month on her credit card. Now we owe over $40,000. What can we do to pay it off fastest without going bankrupt?

My wife and I are having a crisis right now. She grew up in a very poor household and always felt like she struggled to afford the things she needed; she never was able to have anything nice, and has felt deprived. She promised herself that as soon as she made a lot of money, she would treat herself to the things she never got to have.<br><br>And she did. We opened a joint credit card with a $50,000 limit, and in the course of one month she spent $12,000 on it. And she's still spending. The card is maxed out and she's having to put her groceries on a different card.<br><br>She bought a $4000 car seat for our baby, a $3000 stroller, $5000 in clothes, and over $2000 in toys. Then there are the $1000 mattress, the $700 weighted blanket, the $900 humidifier, etc. None of these are things she needs, and she has confirmed that we can cut back on most of them. But she found herself getting sucked into buying them because she had money now, and felt like she finally had the chance to enjoy herself and spoil herself a little.<br><br>However, she went from having one credit card of $5000 to several of $20,000, $30,000, and $50,000. Now we owe over $40,000 to several credit card companies, and we're both in total crisis mode. We can't afford to pay for all the credit cards she's opened, and even though we have really good jobs, we don't know we can afford to pay for the cards she racked up.<br><br>We're considering either debt consolidation, bankruptcy, or just paying them off as aggressively as possible, but I can't see us affording to pay them off. She feels guilty and horrible, but also like she's finally treating herself after years of feeling deprived. <br><br>So what should we do?