HELOC and bankruptcy
i have two helocs and a primary mortgage on my home. primary is $350k. one heloc is $50k and other is $40k. home value just around $400k. credit card debt is around $45k. so in a mess to say the least. i was told that if i claimed bankruptcy, the heloc companies would settle my debt for far less than what is owed. how true is this? what options can anyone suggest?
What options do i have regarding my loans? and also regarding bankruptcy? i appreciate any help.
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