File BK now or wait for garnishment?

[ssgriffin]

NC- Only paying min. on c.card debt($30 thou.). This month can't pay. $100 thou. mortg., $17 thou carloan, never been late on any, make $55 thou./year. Should I file this month or wait 6 months until close to garnishment and save the $700/month cc payment? More efficient to file early or late?
Should I choose 7 or 13?
I must keep my house/car, can I file 7 and make those excempt? Then just discharge the cc debt? Sounds good if works that way. If not;
In 13, what can I expect to pay of the $30 grand? Over three years 10%? I would be happy to pay $3grand over 3 years vs. 30 grand in 5 years.
Also, any guidelines for someone this early in the process with BK emminent.

 

[bigun]

Your priorty is the mortgage, utilities and transportation.
As to your questions, it is impossible to advise with the info you gave. Whether 7 or 13 is apprioate depends on the equity you have in your home and auto vs what your state exempts from creditors. For example, your home is worth 100k but, your equity is 10k and your state exempts 20k then, you can file chapter 7 and reaffirm the mortgage and retain the equity. If not, that's what a 13 filing is for. My suggestion is get yourself to a lawyer. You have assets and a lawyer will show you how to protect them.There are bankruptcies and, there are bankruptcies. A lawyer is much more help if you are not behind on anything vs you rushing in there with a shoebox full of defaulted cc bills and a lawsuit in your hand.