Even if you go through bankruptcy they cannot be discharged, so I would pay those off first and fast. 

Only three years of seasoning is required on foreclosure, short sale, bankruptcy, or deed-in-lieu.No employment or income documentation required.

Your 401K has protections from bankruptcy and divorce.

I was 26, i started building a house ,$160k, before I left the Army in 2007. moved in 2008, just 1 month after leaving military. by 2010 it was down to $72k. we just up and left it, our street only had 6 occupied homes and over 15 who had short sold or just up and left also. we foreclosed,  and bought current house in 2018, had to rebuild credit, did not file bankruptcy, saved 10k and got a va loan for our current house and a 690 credit score

Of course mortgage insurance and other factors play into this, but ultimately many people end up filing bankruptcy after foreclosure. 

If the seller files bankruptcy it can complicate the transaction tremendously for the buyer.

Hands-off, Core Four, magic spreadsheet, minimal reserves, BIG believers in the power of positive thinking, putting lipstick on pig after pig all the way to bankruptcy court.My husband was also an English major, and while I (the computer science major) usually focus on acquisitions, he always has veto power and he's not afraid to use it-- lol. y'all English majors debbie downers. 

Cons:-Unless You Get A Scholarship Or Have Someone Paying Your Way, You Start Life Substantially In Debt And it's BAD debt - there is no relief from that thing, even in bankruptcy. 

Remember, they can always refer themselves😊Now, make it a goal to call at least 5-10 of these people EVERY day and ask a MAX OF THREE off the list below of who they know that:Just inherited a homeHad a loved one pass awayIs behind on their mortgage or tax paymentsHas a relative that can’t take care of their house anymoreHas a house they’re having trouble sellingIs facing bankruptcyKnows a probate attorneyKnows a bankruptcy attorneyetcWhy only three off the list per contact?

There are even online portals where people are flipping notes to unsuspecting newbies who don't know how to value a lien throughout the entire process, including cost of capital sitting on a note or trapped due to a homeowner bankruptcy case, etc...