We are your garden variety story. We did well in the mortgage industry, business slowed, we borrowed, industry crapped, were screwed. We have 80k in credit card debt, and a 150K 2nd mortgage from the house we lost in foreclosure. CA law does not allow the first to come after us, but the 2nd could for a deficiency judgement. Can we preemptively go bankrupt on the 2nd? It is officially unsecured debt.
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