Considering Bk or DMP. How do you decide?

Hi All 👋

I have 84k in unsecured personal debt that is eligible for this nonprofit DMP offer... but I think I might also be a good candidate for a bankruptcy filing to help fix this.

I live in Arizona with spouse + 2 young kids.

Went through some hardships beginning around 3 years ago, lost my job, then my oldest child was diagnosed with a life threatening autoimmune disorder. It's been a personal, emotional (and financial) rollercoaster.

We have about 350k in mortgage debt (265k+85k HELOC). No car note as I completed the payments on that early this year.

In the current market that leaves us with less than 400k home equity. It may be close to 200k (or less). We don't really want to stay in this house... but moving without solving the huge debt problem on my back can't happen.

I'm facing paying $1586/mo for 6 years on a DMP, or choosing/pursuing the right bankruptcy.

Mortage payment is currently that amount. It's a tough stretch, but I think I can make payments. Interest payments accruing now ate higher than that on my current debt so even these scenarios provide some relief. That's why I know I'm in the right place 🫠

I do want to minimize the impact on my spouse and their credit, and rebuild swiftly as I can, maintaining the home and all... If possible. They still work FTE at around 90k salary and that is the only stable income at the moment. I have some 1099 which varies month to month.

I need control back in this area of my life!! What should I be thinking and doing?