First of all, no one is qualified to advice you about bankruptcy except your lawyer. I can only share with you about one of my dear clients we helped  do a short sale on her house.

She paid her last 6 mortgage payments by maxing out her credit cards before meeting me and ended losing her house anyway. We sold it as short sale, it was a long process and then I directed her to check this company that will eliminate up to 50% of her credit cards balances to avoid bankruptcy altogether.

It's a great feeling, we saved her from a FORECLOSURE and also helped avoid a Bankruptcy.

Debt Management Plans are definitely an alternative to bankruptcy. Think about it in terms of time. .. how long will it affect you? 2 years,3 years  or more? .

If your financial problems comes from too much debt or your inability to repay your debts, any  good credit counseling agency may recommend that you enroll in a debt management plan (DMP)

Slashing your balances up to 50% 

In a DMP, you deposit money each month with the credit counseling organization, which uses your deposits to pay your unsecured debts, like your credit card bills and medical bills, according to a payment schedule the counselor develops with you and your creditors. 

Remember, this MAY NOT BE THE SOLUTION YOU ARE LOOKING FOR. . .but you should at least investigate if there is hope that can keep you from a bankruptcy.

Call me and I will refer you to this company. .they don't charge you any money upfront. ( a good indication that a company gets paid on results and not on your fears) 

My direct number is 240-426-5754