I talked to them about their numbers.
It looks like chapter 7 for them.
With living in the red for many months and having to cover the difference with credit cards, they've racked up $27k in credit card. There's no way that they could pay that off in a 5 year re-org.
There income is below the median, the 60 month formula for paying down the debt in a re-org isn't even close.
I am still trying to talk the wife's parents and my parents into selling all of their stuff and go in with us on buying one big compound that we can all live in. Like a property that has 2-3 houses on it. They are both in bad financial shape and we need to find a way to pool our resources to hunker down through this economic winter as well as for them to live long term in retirement.
Sucks. Thanks for your input.
'06 GMC SLT LBZ C/C 4X4 Summit White, Light Pewter Leather
275/65/18 Toyo Open Country A/T E rated on 18x10's -10 offset
Footwell lights, front and back
"All lights on" mod
Loungers-Driver's and Passenger's
Trans Go JR installed