<prompt> Human: Looking for advice from attorneys, industry insiders or people who have been in my shoes. Thank you!Heres the breakdown of what I owe:30k WF unsecured business line of credit60k WF unsecured business line of credit25k Chase bank credit card10k WF credit cardCar loan 1 14,000Car loan 2 8,500Department store card 1 2,000Department store card 2 1,700Heres the kicker, I own a house outright over 400k and recently put it into a trust for estate purposes. The attorney that prepared my will and trust tells me that the trust doesnt protect an asset in bankruptcy. I was doing well, but ran into difficulty after a business partner screwed me over and had medical issues.Banks are pissed and one sent me a notice to appear in court this August...Im sure more are to follow. I feel like a roach, but what is the best way to get out from under the mess I am in without risking my house?A separate attorney, specializing in debt settlement told me he would handle my collections for 1,500 but Im not clear on the scope of work that would entail. The first bank I tried to negotiate with myself sent me to court right away, so Im clearly out of my league. Outside of my house, the only other assets are a whopping 2k-ish that I have in a retirement account.I reside in Colorado.Thanks for any advice!  <response>: TL;DR at bottom for you lazy turds. 1 I want to express very strongly that I am not an attorney. I am a law student that has taken Bankruptcy courses and plans to be a bankruptcy attorney upon graduation. 2 This is not in any way legal advice. It is one internet stranger giving non-legal advice to another internet stranger. Do not rely on it. 3 Go see a Bankruptcy attorney. Any worth their salt do free consultations. Okay, now that that is out of the way, lets get down to business. 1 Depending on how much money you make, you will have to file a chapter 7 or 13. If your income is high and you need to file a Ch13, that just means you will have to enter a payment plan for 3-5 years and pay back a portion of your debt. It is way to complicated of a formula to give you without knowing your full circumstances. An attorney can do this for you easily. Chapter 7 means you have below median income for your state and can just discharge your debts in 4-6 months. 2 You are worried about losing your house. Under Colorado law, they allow you to exempt 75k of equity in your house. 150k if you are married. Unfortunately, this means they will likely sell your house and give you that amount of money. I will tell you that you can actually stack exemptions if you do not use them all on one category. For example, if you do not have 50k worth of livestock and tools of the trade, this can be applied toward your house instead. I dont think you will have enough exemptions to exempt your entire house, but I could be wrong. Here they are: Also, here is what happens if you file chapter 13 with a house. So basically, you could keep your house, but would have to pay the amount that the creditors would have gotten had you been forced to sell the house anyway, only through the payment plan. So I would not recommend this unless you are absolutely attached, think the house is way undervalued on the market, or it is a family heirloom. However, if you file for Chapter 13, you get to keep your home. This is because in Chapter 13 the trustee does not sell your assets even if they are not exempt. Instead, you must pay your unsecured creditors an amount equal to the value of your nonexempt assets including your nonexempt home equity through your repayment plan. I really hate to tell you this, but it looks like you are going to have to get rid of the house. Almost undoubtably, if you can sell it on your own, this would be preferable. If it were me, I would sell the house, pay the debt, buy a new house with a mortgage or a smaller house. 3 Bottom line, because you have that massive asset and it is not exempt, you are going to have to sell the house. IF you want to keep the house the only real option is to pay off the debt. Debt settlement is not a terrible deal in your case for that. If you dont have the income to pay the debt though... selling the house is the only real option you have. TL;DRThe only real option you have in my opinion is to sell the house and pay the debt off. If you can which I doubt it take a mortgage out on your house and use it to pay the debt off, that would be awesome. The debt settler will just negotiate on your behalf but will not be able to shave off enough for you to keep your house. Also, just for fun. If you were in Arkansas or Texas and a few other states you could actually exempt your entire house in 99 of circumstances, regardless of equity. Sucks that you are in Colorado. Also, cross post to rlawschool and rbankruptcy 