I have some questions and need some advice. I am trying to decide whether to file chapter 7, 13, or attempt to settle. I have about $50,000 in cc debt which is the problem. My husband and I lost about $700/month in income several months ago...not a job loss, but relatives moving out. So now, we can't afford to pay the minimums on our credit cards. We are now a couple months behind as I have stopped paying them. We have a mortgage on our house which we have never been late on and two car payments which we have also never been late on. We will not lose our house or our cars....that is not an option. We also have an old small jon boat which my husband will not part with. My question is can we file for chapter 7 and keep all this? We really do not have much extra each month even without paying the credit cards so I am not wondering if chapter 13 would work. If I try to settle, how do I do that? The highest cc balance is $10000 from usaa. The others are around $5000 each and vary from chase, bank of america, capital one, and discover. Please help me decide what to do! Thanks in advance for any replies!
