Legal Question in Bankruptcy in California

Re: Confused about Chapter 7 vs 13

Unfortunately, to determine the answer to this, you will need to sit with a bankruptcy attorney and/or a legitimate credit counseling agency to review your situation in more detail. There is a lot of analysis that goes into determining what the best course of action will be for you. To find a legitimate credit counseling agency, go the US Trustee's website (www.usdoj.gov/ust/) and follow the links that point to Credit Counseling & Debtor Education. I do not recommend the companies you hear advertised on TV and radio - most are not legitimate, and counsel you to go deep into default on your debt, then negotiate reduced payoffs after the accounts are charged-off. Best thing you can do for yourselves is to meet with an attorney in your area who handles bankruptcy - most will give you a free initial consultation. Start with a qualified credit counselor, however, as given the numbers you posted, I would have to believe there is a way for you to resolve this possibly without bankruptcy.

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