My brother-in-law is a bankruptcy attorney. Since last year he has been talking to people like you all day long. He can tell you exactly what is going to happen, and tell you what your options are. He has two offices, one in SD, and one in South County. Not all of his clients end up going into bankruptcy. But, unfortunately many do. I was surprised to hear it’s not the worst thing ever – and if you set it up right, and figure out how to protect yourself, you will come out ok.
If you want his email address, or phone number, please email me at lindismith @ hotmail.com