Well, today I answered a call to BofA - previously I posted that two of the accounts were going to charge off on Dec 31st - now they tell me that a glitch in the system caused by our payment due dates have caused the accounts to be held over through January.

So now the offer is 15%, or $11,625 paid in six installments over the next 6 months. Wow. They said this is because of our 15 year history and that we never missed a payment until this past year. I would REALLY love to be able to accept this, if only I didn't have two second mortgages to worry about suing me, plus the other 100k in cc debt. And don't forget the 1099 for 66k in forgiven debt...

Well, I need to talk to an advisor (have an appt with one tomorrow prior to meeting the BK attorney) and the BK attorney and really feel out all my options. Maybe selling most of our personal belongings and getting 2 jobs (after my surgery) for the next year or three or five is the way to go. At least that might feel better than filing... This would be a much easier decision to make if I knew whether the two second mortgages will come after us down the road! If I didn't have to worry about that 170k+ hanging over our heads.

What is the likelihood that they would sue me down the road? Any thoughts appreciated. Hmm, maybe I should post in the forum as well.

****I did post in the forum, here's the link - very helpful responses to anyone who is considering this issue.