2 Answers

The value is subjective its a opinion . If they can tip the scales by playing with the value and income numbers to disqualify you ,rest assured they will . It is against the law to commit fraud before the bankruptcy court . With that in mind I will say only this ,Once you have payed the 300.00 or so dollars  to the court for filing bankruptcy ,then every one must go to their corners and cease all actions including foreclosure You buy a 120 day time out where every one must behave . You do not have to finish the procedure . During the 120 days you can get a lawyer and try to straighten this out . But if you don't have the money to continue the payments whats the point  its over anyway .

pay the money like i do