business debt and personal bankruptcy

[business failed]

Hi all. I am new to this forum and am hoping someone can clarify some things for me. I started a small business last year which unfortunately failed miserably. I have about 300K in business debts which were personaly guarenteed and about 30K in cc debt, most of which is also business related. We also lost about 200K in start up capital which was our life savings and my 401K. My wife and I are in the process of filing personal bk due to the personal guarentees. My wife and I both had to personally guarentee the business loan and lease of the building. My wife is currently back to work and she makes about 65K per year. I am currently unemployed as I had left my previous job to start the business. My question: Since the debts are mainly business related does the trustee still require the income/expense ratio to force us into a chapter 13 or will we be ok in a chapter 7 due to the nature of the debts? We will have about $600.00 extra each month after living expenses. Thank you.