I can't help with info about bankruptcy. However, I will say if you sit down (with your family) and put it all on paper, there are other ways to cut back and save so you have more money - to put toward the payments you will work out with creditors.

Pare everything to the bare minimum of your outgo. A few ideas are to have a yard sale, hang laundry out, no more eating out, figure out how to use all leftovers, get a second job, adjust your insurance deductible, downsize to one vehicle, get rid of cable and internet, etc, etc, etc.

When you have exhausted all possible options to cut the outgo and bring in more, only then should bankruptcy be a consideration. Sometimes this is like losing weight. It took years to put the pounds on, you can't expect it to all come off in 2 weeks, you have to WORK at it.

Some of it will hurt, and should, but be realistic in giving up things you cannot afford and can do without. It can, and should be done for repayment of your responsibilities.

dl