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Question (Category: Bankruptcy Law)
My wife and I are considering filing for bankruptcy and I wanted to see what our options are. I was laid off in January and started working again last month but am not making nearly the money i was making before. Also we recently moved and my wife, who's a school teacher, has not been able to find work. As of now we are current on our bills are current, however, since my wife is no longer employed we no longer make enough money to cover our bills. I think bankruptcy is an option but how exactly will it help us out? We have 2 car loans, several credit cards, student loans, and a personal loan on top of all our other expenses. By the way this would be filed in TX. Optional Information:State/Country: TexasAlready Tried:We've tried talking to our creditors to reduce interest amounts but they have been denied. Also, I tried asking for our loans to be deferred until my wife and I can get our jobs back, as well as for the deferred payments to be added to the end of the loans, but those have also been denied. As I mentioned before all of our accounts are current but since my wife is not working anymore we are not making enough money to pay our bills. If we file will we be able to keep our vehicles even if we have active loans on them? What type of bankruptcy will we be able to file for and how will it effect our car loans, credit cards, etc.?

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