My Situation - what chapter to file?

[shanidane]

Hello, here is my situation. I am hoping you can give us some helpful info on what chapter to file?? We are current on all our bills, we have 50,000 in credit card debt, I owe 154000 on our house but our house is only worth 129,000. We have more expenses that income coming in. We make pretty decent money about 4720.00 per month, as you can see we have negative equity in our home and no assets to speak of. Will it be hard to file since we are not late on any bills and would we qualify for a chapter 7? We do not want to keep the house since we have no equity in it.

[325Falcon]

Depnds on what state are you in? It does not look like you are in that much trouble with only 200K debt and only 50K of unsecured and making 56K/year. You must certinly have more debt than what you post says. Cars, furntutue, student loans? ETC ETC