filing bK

[tallen30]

My husband and I have decided that he is going to have to file Bk on some unsecured debt and unsecured business loans. I read that you may be able tokeep some secured debt...what would that be?

IF he is behind on the truck pmt would he be able to reaffirm or get the bank to do anything? The thing is used in work and is almost pd for...if they would just work with us a little and reduce the interest.

The mortgage company has offered us a short sale on our home...should I wait until that is settled before He files? I am having a hard time finding funding. Would it be better to try to go through BK with it and would the current lender renew the loan at the short sale price?

What happens to property that I do not have posssession of but that I think my name is titled on with my parents and even their bank accounts?

Also, one of the business that he has a line of credit on, the business is dissolved no longer operating, but the two owners my husband and his friend are guarantors...what would happen if he files on that? They did buy some equipment like a welder and brake...what happens to those type of tools...will trusty sell them off? We have another business that uses those tools and they were pd for out of our personal account...we were reinbursed. I hate to leave the other party responsible but we cannot afford the pmt and he doesn't either 1/2 the time.

Next we also own a mortgaged semi..we would like to file on it, but I do not want to file...my credit is ok. Will it hurt me? I guess I would have to be responsible? If we are current would they reaffirm and lower the interest? You know we would sell it but we bought it just before the prices of semis crashed...we owe double the actual value of what they sell for today...IF they did something on his end...would it affect me?

Now Lastly...we own a piece of rental property. I am the only one on the deed both on note. His father put the down pmt on it and lives in the apartment. The other spaces are office area 2 vacant and 1 rented. What is our options of it? Will they take it or force us to sell? Can we claim the space is used for our business? Which it is in a sense since we cannot the spaces rented.

I would appreciate any insight you can provide....I will be going to meet wit the attorney soon.