<prompt> Human: My parents are both employed and make a good income, but are somehow in shitloads of debt. Ive thought of a few options here to help them:Option 1 - We pay it. They make enough to climb out of this themselves over the next several years. I also have 35k of capital I can throw in to accelerate the credit card payoffs right now.Option 2 - Bankruptcy. I assume they dont qualify for Chpt 7, so this would be Chpt 13, but Im admittedly not well informed on the benefits and drawbacks of this option, which motivates this post :Option 3 - Negotiation. Can I call up the creditors, explain we are near the point where Chpt 13 bankruptcy is mathematically optimal, and see if they are willing to discharge a portion of current debt?Dads income: 120kyear, Moms income: 50kyearDad is age 59.5, Mom is age 55Assets: House - 40k equity Car x 3 - 5k equity total Dad Trad 401k - 420k Dad Trad IRA - 70k Dad Pensions - 3 - 30kyear not yet activated Mom Trad IRA - 40kDebts: House - 400k Car x 3 - 26k Credit Cards - 75k 12.5 interest average Medical - 5k Son A - 30k no legal documents Son B - 15k no legal documentsWe live in central Massachusetts, medium CoL. Is it worth working out a plan to pay off their sons the amount owed, wait however long the law requires for it to not be considered fraud, then file for bankruptcy? Just spit balling here, that doesnt sound legal.Thank you in advance if you put in the effort to make a thoughtful response. If any info has been omitted feel free to ask.  <response>: Their total obligations are far lower than their income. They need to suck it up and pay their absurd credit card debt. 