We are thinking of filing chapter 13.. We have to many bills and not enough income coming in,owe over $60,000 in credit card debt.. we are only late 1 month on 1 of them,but we have no savings and live paycheck to paycheck and it's over whelming.. Our house is not worth now what we owe on it,and it's an arm and we could not get refinanced last year because of it... it will reset in 2011.. If we file chapter 13 will we loose our house? Can we keep it if we make the payments? Will it stop it from resetting in 2011? Thank you

It is my understanding that you will not loose your home if you file Chapter 13 as long as your plan is to keep your payments current; Chapter 13 will not keep it from resetting in 2011. Check this: Chapter 13 - Bankruptcy Basics